Oil is up almost 10%. There is unrest in almost 10 countries. 10% more increase on gas prices will put a good dent on shaky GDP. Big companies also will not be able to function in coutries like Libya. Good reasons for a substantial correction
yes, it is a good reason. we had similarly good reason with Mubarak. maybe the second time is the charm.... i remember XLE did not sell much during Egypt news and made new highs the next day. its reaction on Tuesday may be important.
oil will hit $100 this week. Ghadafi won't step down so there there is more push needed to take this SOB down.