Thursday, July 13, 2006

In a Nutshell

Oil prices break the record: $75.89

Cue the domino effect on Wall Street.

And the world hunkers down to wait for the other shoe to drop:
"Geopolitical risk is out of control," said Tony Nunan, a risk manager at Mitsubishi Corp. In addition to Nigeria, he said, "Israel is taking a strong stance and that's adding fuel to the fire, but more than anything it's U.S. gasoline demand holding up and the Iran situation."

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