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Energy joins us now I'm from the -- -- -- is hi Anthony is ninety dollars and 87 cents I believe this morning a little bit below ninety right now.
Where do you expect oil to go from here.
Well really it's all about the it's really all about the Suez Canal.
If oil or if any kind of trade is stopped through that canal right now they said its operating at full capacity.
Then oil could step police like over a hundred dollars is to be the catalyst.
That takes is over we've been calling for their side before oil over a hundred dollars we haven't seen yet this could be the catalyst though if if -- -- -- dot com.
And come back and it's a big hit though because here's what sixty about the Suez Canal lobbed.
Former UN ambassador John Bolton who was on our show on Friday was -- in the last hour with Stuart Varney and fox business and he was just saying that.
You know the military the Egyptian military.
Will defend the Suez Canal aggressively they know the economy -- position -- tank there.
If the canal was jeopardized they just that he in his view they just will not allow.
That to happen so maybe that's why oil so you'll steady today compared to where we were last week.
-- have to agree with that -- it's definitely taking a breather today and obviously you're right a lot of oil 3040% of the world's oil go through that canal.
But 8% of the world's goods go through that allows south and they get paid a -- every time -- ship goes through itself.
I would definitely think they would want to keep the canal opens right there running keep getting from prominent.
Now -- -- what what's to what's going on in Egypt where would oil prices have been going to they've been declining before this we -- 9346.
On the twelfth of January and then fell -- 09%.
From there in the mid eighties and then this happens was -- set up for a big move down are now.
I don't think it was set up for a big moved down I certainly think that there's probably a little bit more profit taking in the market there -- a lot of people are long.
Pretty much for 68 months and and they started taking profits when it couldn't break through that hundred dollar area I would think probably eighty to 83 would've been the lull.
And then the buyers would have started coming -- identity society helping us out -- oil today at the NYNEX entity tax.
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