Quote:
Originally Posted by Old Tele man
...the proverbial case of the Iranian "tail" wagging the global "dog"
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The sad part is as our supply has INCREASED so has the price, we have been over 90% of storage capacity on both oil and natural gas since early this year and that is including new storage being added, meaning we have even more reserves now.
I don't believe the Iranians are completely to blame as we have a large set of banks manipulating the oil market here. Especially the eastern fuel oil market, nice that our bailout money helps banks buy more oil to store.
Very sad.