Wednesday, January 10, 2007

Oil Lower again

Oil fell once again, this time to below $55 per barrel. This is a 19month low in crude. A factor in this move was the compromise which has been reached by Belarus to resume exports of crude to Europe (Source Reuters).

Talking to friends in the market, everyone seems confused and having trouble making money. I have the same positions as previously detailed, except that I sold Usd/Cop today at 2257.

Good Luck and Good Trading



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