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Page added on July 6, 2013
Egypt Causes Turmoil for Oil Prices
The Schork Report Editor Stephen Schork on concerns the unrest in Egypt would interrupt the shipping of oil through the Suez Canal.
3 Comments on "Egypt Causes Turmoil for Oil Prices"
BillT on Sun, 7th Jul 2013 5:12 am
And the beat goes on. Any excuse to raise the price of oil, but that needs to be done so we cut back on it’s use. It’s going to be a long, hot summer.
smokeyjoe on Sun, 7th Jul 2013 2:36 pm
I don’t think its an excuse at all. Just yesterday they bombed a pipe line from Egypt to Jordan. The Suez Canal is a very tempting target. A sunken ship would block the canal and send oil prices sky rocketing. The risk is real and the price has to rise to reflect that risk. BTW the talking head is real clown.
DC on Sun, 7th Jul 2013 4:44 pm
This is just market speculation and presstitute hype. Egypt counts for very little in the world oil scheme of things, despite its strategic Suez Canal. The ‘market’ however, loves to hype any excuse it can to talk about price of oil going up.