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Oil is quietly marching higher, gaining back all of the ground it lost on the Gaddafi shooting...

Oil is quietly marching higher, gaining back all of the ground it lost on the Gaddafi shooting rumor yesterday. Libya's Deputy U.N. ambassador says the export of crude may be stopped soon for security reasons, and warns/promises Gaddafi will not be taken alive.  OIL +1.9%. BNO +2.0%.
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Comments (3)
  • Morg
    , contributor
    Comments (250) | Send Message
    Oil dropped yesterday because the ICE raised margin requirements for oil contracts now because of the rumor Gaddafi was shot. The hike effectively squeezed speculators that were over exposed causing a temporary price drop as those involved raised the necessary cash requirement.
    25 Feb 2011, 02:35 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
    "Gaddafi will not be taken alive..."


    He's currently in an undisclosed location reading, "Decor for Spiderholes" and "Heating your Cave with Goats," both big hits among the you-better-dig-a-deep hole set that's growing by the day.
    25 Feb 2011, 02:41 PM Reply Like
  • Duude
    , contributor
    Comments (3399) | Send Message
    If they totally stop the oil flow, Gaddafi will be done. He's held onto power by paying off the right people in the military. With the current insurgence he'd likely have to pay an incredible premium above and beyond what is normal.
    25 Feb 2011, 03:43 PM Reply Like
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