08.07.2013 - Why oil will stay strong for some time to come
Egypt is the big topic on oil traderís minds this week but it really shouldnít be. Although itís been tapped as the reason WTI oil has drifted above $100 a barrel, itís only the last of several financial and geopolitical reasons that have kept oil strong for the past several months despite the shaky performance of just about every other asset class. And now that the military has asserted itself in Egypt and taken Morsi down from power, there might be a tendency to think that the situation will cool and so will the price of oil, but I donít believe that. The commentary on Egypt has been celebratory, but I doubt very much that the Muslim Brotherhood will take their stripping from power easily...............................................Full Article: Source
Print