Crude oil prices have risen modestly this morning on news that BP has shut down one of its oil and gas pipelines in the South Caucusus region of Georgia due to the hostilities there. Ironically, Russia is saying that they have ceased their military aggression in the region, despite conflicting information. If indeed the hostilities have ceased, I suspect that crude oil prices will dive again very soon, just as they did after the pipeline through Turkey was bombed last week. Traders would use the rise as an opportunity to join the downtrend.
Russian Attacks Continue on Georgia Despite Russian President's Calls to Halt
Russian Attacks Continue on Georgia Despite Russian President's Calls to Halt
