Subject: Re: Oil Futures Up 22-25% at 11:20 PM EST, 8 Mar 26

We're in uncharted territory-

I posted, on the Policy board, the all time high, of something like $147, for WTI, in July 2008. Adjusting for inflation, that would be about $214 now.

I saw a $118 print earlier this evening. Bill saw a print over $119. As usual "Mr Market" is driven by herd panic. Currently, WTI at $107.05 and Brent at $110.65.

After the invasion of Iraq, I found I could buy big oil in late January, ride the inevitable ramp job through the spring, and sell at a nice profit around Memorial Day. Worked that scheme several years in a row, through 2008.

Steve