Sweet oil crude prices are reaching their all-time high and we are very close to $75 per barrel right now. The oil crude prices moved up sharply due to the flooding that occurred in upstate New York, New Jersey and Pennsylvania. In fact refineries were flooded in Pennsylvania and went off-line. Several power plants were also closed and with the Delaware River cresting and over flowing in many locations they will not be able to get in the oil deliveries.

There are other issues in the world right now with the conflicts between the Israelis and the Palestinians in Gaza. The Syrian military is helping Hamas leadership hide and defend them selves from the advancing Israeli army. This is not stopping the Israelis from moving ahead with air strikes on power plants and bridges and any military troop movements or military hardware.

Additionally the Syrians have a Machiavellian deal with Iran that if either of them gets in a war the other country will back them up. Iran is also under pressure from United States of America and her allies to stop enriching uranium immediately and Iran has refused to do this and also said it will use oil as a weapon.

Economically speaking that will move oil crude prices up and that means that the traders in Chicago will consider running up the price and oil futures will again spike. Please consider all this in 2006 as oil crude prices move up to new record highs.

Lance Winslow Article Source: http://EzineArticles.com/?expert=Lance_Winslow