| Forget the Dow. Now’s the time for investors to keep their eyes glued to the price of oil. Renewed violence in Iraq, and fear of an all-out civil war there, is to blame. The fear of an oil price shock has been etched into the minds of investors ever since the Arab oil embargo in 1973-74, when oil prices quadrupled and the U.S. economy sank into a recession and the stock market suffered a brutal bear market.
So, it’s no surprise that the latest conflict in Iraq, which just happens to produce nearly 3 million barrels of oil per day, 80% of which is exported, has put Wall Street once again on oil-price watch...............................................Full Article: Source
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