News and analysis of energy stocks. No buy or sell recommendations.

Visit SeekingAlpha Energy Stocks

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

Posted on May 16, 2008

The spike in the price of crude in May is having the anticipatedeffect of arousing the Congress in this election year. Earlier this week,Congress passed a bill with veto-proof margins to suspend intakes into theStrategic Petroleum Reserves till crude oil prices go under $75/barrel and staythere for ninety days. Enron Loophole: Position LimitsClose at the heels of the SPR bill, the current FarmBill has provisions which will plug the so-called EnronLoophole which allows speculators to bypass regulations regardingposition limits enforced by the Commodities Futures Trading Commission [CFTC]....

Original article link


crude , petroleum , trading