Is there any light at the end of this tunnel? Instead of a decisive plan to bailout Greece, questions still linger while we try to decide whether this European crisis will end nicely. It just goes on and on.
Iran also does not seen to be as scary on Monday. Weapon inspections are raising hopes that there may be a resolution to this crisis. It seems that according to the AP, Iran's official news agency reports that the country's foreign minister has said that inspectors from the U.N.'s nuclear watchdog can extend an ongoing visit to the Islamic Republic. The Monday report by IRNA says Ali Akbar Salehi told Turkish TRT TV in Addis Ababa, Ethiopia, that the three-day visit by International Atomic Energy Agency inspectors that started Sunday can be extended if they desire. The remarks appear to be part of a show of flexibility and transparency by Tehran during the IAEA inspection tour, which could greatly influence the direction and urgency of U.S.-led efforts to rein in Iran's ability to enrich uranium. The West suspects Iran is pursuing weapons technology. Iran says its program is for peaceful purposes.
Gas prices soared as Bloomberg News reported that, Hedge funds boosted bullish gasoline bets to a record as the shutdown of refineries accounting for 24 percent of U.S. East Coast capacity spurred concern that fuel supplies in the region will be insufficient to meet demand. Gasoline rose to a five-month high last week as the funds and other large speculators increased wagers on rising prices to the highest level in data going back to June 2006, the Commodity Futures Trading commission's commitment of Traders report on Jan. 27 showed. Futures have climbed 9 percent this year on the New York Mercantile Exchange as Sunoco Inc. and ConocoPhillips shut unprofitable refineries in Pennsylvania with a combined capacity of 384,000 barrels a day. Hovensa LLC, a partnership of Hess Corp. and Petroleos de Venezuela SA, said Jan. 18 that it will close its U.S. Virgin Island plant next month, idling 350,000 barrels of daily capacity supplying the East Coast.
Make sure you see me every day and are getting the Power to Prosper by tuning into the Fox Business Network! Call me - Phil Flynn - at 800-935-6487 or email me at email@example.com to get a trial to my daily trade levels and to open your account. _________________________ Phil Flynn Research Division 806 W. Washington Blvd. Chicago, IL 60634 312 563-8344 / 800 935 6487 There is a substantial risk of loss in trading futures and options.Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.