I feel the same Corporate.
If the price of oil hovers around AUD118 then Roc will surely return to the mid to high 60cents in the near future.
No one wishes to profit from the onset of unrest, but the main factor in this oil price rise is the military Coup in Egypt fuelling fears of spreading unrest throughout the Middle East, and whilst Egypt's oil production is negligible on a Global scale, they control the Suez Canal and pipeline which carry's over 4 billion gallons a day making them one of the most powerful in the Middle East and North Africa.
Couple this with improving financial data from the U.S. and we have oil prices not seen for some time.
Will be buying more again Monday morning.
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