After another pricing pull back of almost 10% earlier this week, crude oil prices rebounded on the back of an unlikely source.
A Spanish deputy prime minister presented a budget. The proposal was hardly earth shattering.
It detailed planned expenditure cuts but provided no details on the other shoe that has to fall – tax increases. Given that a main element in the Eurozone crisis continues to be on the fiscal side, tax increases will have to follow.
The difference cannot be made …
Keep on reading: There is Nothing the Shorts Can Do About Higher Oil Prices