Monday, May 12, 2008

Oil Price: The Iran Factor?

Vox takes it a step further.

We mentioned that Iran may experience the tender love of cruise missiles in the near future.

Raimondo observes:

The markets sense it, too, which is why the price of oil keeps climbing to record levels.

Frankly, while I think that Raimondo has three toes over the 'loony line' (read his linked post and form your own opinion), there's a lot to be said for the theory that oil is "war priced."

Belling has been confused (as am I) about the 'straight-line' increases in spot bbl pricing. That simply doesn't happen (albeit there are exceptions.)

So get your Persian rugs early, folks.

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