Oil prices rebound on Iran tension...

drudgereport.com Jul 9, 2008

Oil prices rebounded slightly Wednesday on renewed fears about possible supply disruptions as Iran, one of the world's biggest producers of crude, tested a missile, analysts said. A day after oil prices slumped more than five dollars, the market was also digesting a pledge by world leaders at their G8 summit in Japan to make the crude market more transparent. In addition, traders were awaiting publication Wednesday of the latest weekly snapshot of crude inventories in the United States, the world's biggest consumer of energy. The data often moves the market. London's Brent North Sea oil for August delivery jumped 1.91 dollars to 138.34 dollars a barrel in electronic deals. New York's main oil contract, light sweet crude for August delivery, won 1.61 dollars to 137.65 dollars. "Oil futures bounced back up, with investors... [read full story]

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(anonymous) - Jul 11, 2008 8:52:33 PM

We should leave Iran an honorable path of retreat. Engaging Iran in the global economy is the only approach that has merit. Regardless of Iran's size however, we should be careful what we assume about Iran; it has some ten million men of military age. Puor bien savoir les choses, il en faut savoir le detail, et comme il est presque infini, nos connaissances sont toujours superficielles et imparfaites. Unfortunately, what we do know is that the Bush administration cannot be trusted to do what it says. Iraq taught us that lesson. Many experts have long been predicting that Bush would invade Iran before he leaves office. But of course, the Bush administration would never admit to such a thing. “On ne donne rien si liberalement que ses conseils.” But it is the man who follows his own counsel, he’s the one that should lead.

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