Thursday, August 21, 2008

Oil Rises Above $119 on Geopolitical Tensions

Oil rose more than $3 a barrel to over $119 on Thursday, climbing for a third day, as Washington's missile shield deal with Poland angered Russia, adding to international tension.

The Financial Times said Lehman's talks with China's biggest brokerage, CITIC Securities and state-owned Korea Development Bank (KDB) on a sale of up to half its shares had failed, fuelling speculation about the U.S. bank's efforts to raise more capital.

All those boost a big rally of the Euro, however this is only tem. and this is a good time to sell it

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