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Posts Tagged ‘ Naval Blockade ’

$100 Oil on Hold

Aug 11th, 2008 | By Dave Gonigam | Category: Financial News, Oil Investment & Alternative Energy

So much for $100 oil. The war between Russia and Georgia — which had zero impact on oil prices last week — suddenly has put a floor under oil as the new week begins, at least for the moment.The proximate reason is the shutdown of oil shipments (and all other shipments) from Georgian ports, coupled with Georgia’s claim that Russia tried to bomb the Baku-Tbilisi-Ceyhan (BTC) pipeline that runs from the Azerbaijan to Turkey, through Georgia.

Tags: Baku Tbilisi Ceyhan, Btc Pipeline, David Gonigam, Georgia, Naval Blockade, Russia
Posted in Financial News, Oil Investment & Alternative Energy | Comments%24100+Oil+on+Hold2008-08-11+18%3A15%3A29Dave+Gonigam

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