Dec 27, 2007

Crude oil price jump as an overreaction to Bhutto's killing

The assassination of former Pakistani Prime Minister Benazir Bhutto lit a fire under oil futures Thursday, as jitters about politics in the region rocked a thinly traded, holiday market.

Prices later abated on the realization that an unlikely chain of events would have to transpire for Pakistan's political turmoil to constrict global oil supplies.

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