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Welcome to Ministry of Wealth and Gifts for your loved ones!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down


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Friday, 24 December 2010

Oil hits new 26-month peak

LONDON : Oil prices hit another 26-month peak on Friday, lifted by freezing weather and upbeat US data, before pulling lower on profit-taking before the Christmas and New Year break.


At about 0430 GMT, London Brent North Sea crude for February delivery soared to 94.74 US dollars per barrel - the highest point since October 2008.

The contract later stood at 93.86 US dollars, down 39 cents from Thursday's closing level.

New York's main contract, light sweet crude for delivery in February, had rallied 1.03 US dollars to 91.51 US dollars on Thursday, when it struck a similar 2008 peak at 91.63 US dollars. The New York Mercantile Exchange was closed on Friday.
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Createwealth8888:

Historically, Crude oil is the leading indicator of the direction of stocks so what it means that stocks may still have legs to run.
Posted by Createwealth8888 at 22:15
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