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Energy Bombshell: China Raises Oil and Diesel Prices

Oil demand from China will not decrease, but in fact will increase as the two big state oil companies buy more to increase what is now a profitable product.

Demand destruction in China will not occur at these levels as cars are still the purview of the rich and upper middle class. Here in the US, demand destruction is occurring at $4.00 per gallon, but lower US demand is a short term, and modest effect of higher prices.

Monday should see the spike of Oil as Nigeria takes 10% of its production off line, and Israel rattles sabers against Iran.

Don't count Israel out--they have struck Syria before, and are saying that a strike against Iran is "inevitable"...

Look for $150 plus a barrel this summer and beyond. The Saudi's attempt at ramping up production is a sham--they simply don't have the spare capacity to increase in a meaningful rate anymore.
Jun 21 22:04 pm |Rating: 0 0 |Link to Comment |View article

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Energy Bombshell: China Raises Oil and Diesel Prices

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