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Thursday, June 08, 2006

Al-Zarqawi Pays His Price

The man at the left got bagged today by the US military in a precision strike that was aimed at taking this character out in the first place.
Responsible for Gawd knows how many deaths, alledgedly he also was leading insurgents in attacks on Iraqi oil infrastructure.
Funny darned thing...
Every time you get a little positive news in the oil markets,there's always something that screws things up to the consumer.
When his "passing" was first announced this morning, oil prices, in electronic trading, lost well over $1.50 US on a barrel.

Lo and behold, the New York Mercantile Exchange opens and what happens?...
Oil is down today by .47 to it's close at $70.35US a barrel.

Gawd love the whole notion of security of supply and terrorism concerns that were expressed in the markets overseas this morning. Gone was the larger than expected drop that should have been seen in the markets in North America.
Gone is the notion that a "little good news" like this should have to the consumer and, gone should be the notion that we sit and not see anything done about it.

Is the exchange in New York the problem with pricing in itself?

I dunno about that but, I think we all know that there are huge commissions being paid out to keep them up!



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