Friday, July 24, 2009

Oil in storage -- Someone else is noticing

The WSJ must be reading my blog already :) WSJ:OPEC Braces for Decline in Crude Prices
The Organization of Petroleum Exporting Countries is bracing for a sharp drop in
crude prices in coming weeks, as huge reserves of oil-based fuels continue to
pile up and the space to store them runs out.

Considering the current high correlation between oil and stock prices it will be curious to see if/when oil prices drop how much of an affect it will have on stock prices.

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