U.S. Oil Cracks $70, Dollar Heads Towards 2018 High

Oil prices jumped to their highest since late 2014 on Monday on a deepening economic crisis in Venezuela and worries that the Unites States could re-impose sanctions on Iran, while stocks firmed and the dollar rose towards its 2018 peak. Most Asian markets also rose after Friday’s tame reading on U.S. wage growth lessened chances of a pick-up in the pace of interest rate hikes by the Federal Reserve. Gains were capped by Sino-U.S. trade tensions. U.S. equity futures pointed to a positive open for Wall Street. 

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I paid $25 to fill up my car few years ago. $25 doesn’t even get me a half tank anymore.

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This system has been exposed to be rigged...

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Nice and optimistic >:( Oh, good.The trade war wasn't enough. Certainly the Midwest can absorb the devastation of the collapse of soybean sales to China and $4 power gallon gas.

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Once again the "oil syndicate" has begun to get organised and have started to artificially Jack up oil prices

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Denounce OPEC you might feel a chunk of a bite.

 

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$3.00 a gallon already. Stations across the America not wasting any time in raising pump prices. There goes that big tax cut...

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Yesterday Venezuela, today Iran, tomorrow again Venezuela, Wednesday Iran, etc... Vicious circle. Bad and worst... This will not be a good news story for the economy.

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There you have it the result of the Trump's tweet against OPEC.. things will get awrier than ever in the global oil market. Also i find really amazing that Venezuela is being blamed as a cause for this oil spike when venezuela stopped being relevant in terms of oil overall output to markets since long.. 

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