Gasoline Gains as Looming Syria Strik...

Gasoline Gains as Looming Syria Strike Sends Crude Above $112

Posted in the Minneapolis Forum

good for the economy

Minneapolis, MN

#2 Aug 28, 2013
my oil and gold stocks will sky rocket - bring it on !
Reason Not To Attack wrote:
Source: Bloomberg
Gasoline jumped to a five-week high, following crude’s rally, amid concern that any U.S. military strikes against Syria will lead to a widespread Middle East conflict and oil supply disruptions.
Futures rose as much as 2.3 percent. West Texas Intermediate crude surged to the highest level since May 2011. U.S. officials aren’t limited to a one-day operation, an administration official said as the U.K. drafted a United Nations resolution to condemn last week’s suspected chemical attack in Syria. Syrian Foreign Minister Walid al-Muallem said yesterday “we have the means to defend ourselves, and we will surprise people with them.”
“We’re off the highs, but until we have a clear feeling on how the aftermath of this potential strike in Syria will go, you can’t afford to be short,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago.“All the major oil producers are on opposite sides of the conflict.”
Gasoline for September delivery rose 3.89 cents, or 1.3 percent, to $3.073 a gallon at 9:46 a.m. on the New York Mercantile Exchange. Prices touched $3.1033, the highest intraday price since July 22. Trading volume was 10 percent above the 100-day average.
Read more: Link to source
Just received notice that our mid-michigan area prices are going up .25 as I type.
Happy Holiday...

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