Monday, June 18, 2007

A $69 Handle on Crude ($WTIC)

West Texas Intermediate managed to poke above the $69 level just a little while ago. Is a run at $70 next? The Schork Report notes that funds have further increased their length to 64,471 contracts, which is a 1-1/2 month high and an indication that a big chunk of the market is primed and ready for a run to $70.

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