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Two Ways: Cash 4 Black Gold


Strengthen your portfolio in good times and bad.


Crude oil surpassed $56 a barrel today, hitting new highs for the year as a falling dollar and supply concerns boosted speculation in good 'ol Texas tea.

The Wall Street Journal reports light, sweet crude oil contracts for June delivery closed up $2.50, or 4.6%, at $56.34 a barrel on the New York Mercantile Exchange. This is the priciest since November 14, when crude was still in a freefall from its $147 record high last July.

The performance was helped today when the Energy Information Administration said US stockpiles of "Earl" rose again for the week ended May 1. But the build of 605,000 barrels was less than many were expecting. Consensus estimates called for an increase of 2,500,000 barrels.

Elsewhere, June reformulated gasoline blendstock, or RBOB, rose $0.558, or 3.6%, to $1.6280 a gallon. June heating oil also rose by $0.451, or 3.2%, to $1.4713 a gallon.

For related content, see Professor Jeff Macke's The Ag Lag.

From the Bull Pen: Things that are real continue to be the theme. Professor Jeff Macke laid out his argument for Agrium (AGU). He's taking a more passive approach with a sell stop below $40.

From the Bear Cave: Keep an eye on Cheesecake Factory (CAKE). With increasing unemployment (jobs data out Friday), the last thing restaurants need are higher energy prices.

Alright, Minyans. We're over the hump, so let's finish this week on a good note. Have a great night!

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