Oil nears high as gasoline stockpile report will show adequate supply due to cooling economy
Sonia Abazedi
Mar. 26, 2007

The oil price is nearing its high. The geopolitical and news syndrome acted in concert to push the price up to the recent highs of the year.

But the stockpile of gasoline and crude oil is actually on a stealth rise as the economy starts getting depressed at various levels.

Tomorrow the gasoline stockpile report will show adequate supply due to cooling economy. It will drag gasoline and crude process down. The diplomats are eager to work a deal to free the British soldiers held by Iran. When such a deal is reached, oil will fall back to $55 a barrel level.

Overall the economy is affected by deflation and is headed for a deep recession or even depression. The crude oil price will confirm the same by falling below $30 by 2009.

Oil nears high as gasoline stockpile report will show adequate supply due to cooling economy
Sonia Abazedi
Tomorrow the gasoline stockpile report will show adequate supply due to cooling economy. It will drag gasoline and crude process down. The diplomats are eager to work a deal to free the British soldiers held by Iran.
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