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Wednesday
May192010

Crude Trading Lower

http://www.rigzone.com/news/article.asp?a_id=93499

As of a few minutes ago crude is still trading lower. You would think that the spill in the gulf might help to raise prices but that has not been the case so far. The strong dollar is helping to keep the price of oil down. As well, the Cushing, Oklahoma stock piles appear to be abundant. With the economy suffering good/bad news daily, we don't seem to be able to get any momentum in the price. The dollar/Euro trade is another mystery that we will just have to keep a closer eye on. My bet is that oil continues to trade at currentl levels.

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