Egypt Crisis : Oil is above $100 and yet the DOW is above 12,000

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One protester in Egypt was pretty amazed at the US concern about oil flow through the Suez Canal rather than exhilaration at prospects of democracy in Egypt. That the DOW is above 12000  despite crude at over $100/barrel suggests that the US stock  market, is taking oil prices in its stride and infact celebrating the peaceful protest in Egypt. Helping the stock market are  the oil stocks in the developed countries  that  are high across the supply chain. There is 61 days of stock compared to the 51 day stock of 2008, with lots of spare shipping capacity.

On the other hand , oil demand is booming in Asian economies and amidst oil supply concerns,stock markets are  down, including in India, Generally the  world media is doing a good job covering the Egyptian protests and the direct telecast of the  protests cutting across age and gender  with the Egyptian  military guarding the peace without threatening the public is heartening to see, and speaks highly of the Egyptian movement. It also calms businesses and hopefully the Asian stock markets will recover as things settle down in Egypt.

 

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