Russian counter attack on Georgian oil pipeline territory!
Oil Market Remains Vulnerable - WSJ.com: "LONDON -- Though demand for fuels is eroding fast, especially in the U.S., the global oil market remains tight, susceptible to sudden external shocks able to arrest the recent downdraft in prices.
One such disruption -- a fire on a critical pipeline through Turkey -- is imperiling the flow of Caspian oil to global markets.
The explosion on the Baku-Tbilisi-Ceyhan, or BTC, pipeline helped drive U.S. crude prices up, reversing a four-week slide. In midday trading Thursday on the New York Mercantile Exchange, crude for September delivery was up $1.22 a barrel at $119.80."
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