Red-Hot Resources

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Monday, January 15, 2007

Oil Rising Again

It's a quiet day on global markets without the US to drive it, but the Associated Press tells us...

SINGAPORE (AP) -- Oil prices rose above $53 a barrel Monday amid reports that OPEC may hold an emergency meeting to try to reverse the 13 percent plunge in oil prices this year.

XX My take -- OPEC hasn't even enforced its last cuts. Let's see it do that, then we can talk about new cuts having an effect on the market.

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