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post #31 of (permalink) Old 6th June 2008
Technical Supremo

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The price of oil is not exactly what it costs today but what it is likely to cost in the next 4-6 weeks. It is not the only product which is bought this way - timber and grain are other examples. What you have to remember is that the countries that supply the oil want a guaranteed price before they pump it out of the ground and is delivered to the refineries all of which takes time. Hence the delay in reducing prices although financially the oil companies just love to hold on to their money as long as possible.
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