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I think the market is not thinking much about LT prices - the curve seems to target the price where oil was a few months or weeks back, from wherever the spot is. So it's essentially flat, a sign of cluelessness more than anything.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Mon Oct 29th, 2007 at 05:29:25 AM EST
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