For the first time since the third quarter of 2013, West Texas Intermediate Crude Oil broke into the land of triple-digit prices. At more than $100 a barrel, investors in this flavor of black gold could be in position to reap a windfall. That’s because we’re heading into the “summer driving season” at the same time that tensions in Ukraine are building… And, according to CME trader Tres Knippa, rumors of an oil glut are just not true, opening the way for a huge increase in price per barrel — as high as $125-$130 — without any outside help. And should the Middle East heat up as well, we could be looking at $150 a barrel. Is that a forecast you can get behind?
Stocks rose today, in the process ensuring a fifth consecutive quarterly gain for the S&P 500. The U.S. Federal Reserve is partially behind the market's success, as it continues to taper its monetary stimulus at the expected rate.
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