According to Oilprice.com, there is some economic hope in
the new government in Greece, but if oil prices are any sort of barometer, the
global economy has a long way to go before 2008 is in the rear-view mirror.
In general, crude oil prices are down more than 20 percent
for the year, amid lingering concerns that a dismal European economy will do
anything to encourage demand.
Iranian threats early this year caused a spike in oil
prices, but those fears have eased. Now,
as prices move further away from $100 per barrel, it seems the threat to global
economic recovery comes not from decisions made in Tehran but from the lack of
decisions in the Eurozone.
It may be premature, however, to pull the net away…..
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