GREY:CLLZF - Post by User
Comment by
dukemanon Nov 21, 2007 10:21am
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Post# 13843398
RE: OIL UP $98.67US going over $100US TODAY
RE: OIL UP $98.67US going over $100US TODAYChina has cut back on oil imports due to the high cost of oil.This move may backfire on them because it only forces them to buy into higher oil later in order to keep up with demand and placing additional pressure on already skyrocking oil prices.The price of crude may eventually hit USD120/bbl in the short-term future.