Forget Russian Brawn. Oil Follows America: Liam Denning - Bloomberg Business:
"So it turns out the humble American laborer is more powerful than the Russian air force. Who knew?
With U.S. crude-oil prices having fallen by about half in the past year but trading in a narrow band of roughly $40 to $50 for the past two months, bulls sense a potential turning point. Storied commodities investor Jim Rogers hinted strongly at it in an interview today, Bloomberg news reported, without quite committing. And indeed, overnight in New York, the WTI contract added a buck a barrel, as this chart shows.
Syria drove it higher, jobs drove it lower.
One justification for the jump is the start of Russian air strikes in Syria. The thinking goes that, with so many different countries, including the U.S., muscling into the same sandpit, there’s a higher risk of an inadvertent confrontation."
'via Blog this'
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