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Author: Exploreguy One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77394  
Subject: Re: Yesterday's wild oil ride Date: 9/23/2008 9:05 AM
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All the action was in the October contract, which was expiring. It got caught in a short squeeze. So it was either deliver the oil or pay the price of closing the contract. Out date contracts moved only modestly. She predicted we'd open today around $105 on the November contract. It's $107 as I write this.

From what I understand from the news last night this response in the market is normal whenever a oil contract ends.
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