Oil Over $65

The market is down again today thanks to oil fears. Oil is now over $65 a barrel. I just don’t get how oil can be this high.

Crude for September delivery touched $65 a barrel in New York, an all-time high. Oil futures have climbed more than 7 percent this month as the death of Saudi Arabia’s King Fahd and a threat to the U.S. embassy there raised concern about supplies from the world’s largest exporter.

I would definitely not be long oil right now.

Posted by on August 10th, 2005 at 3:35 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.