SPDR S&P 500 (SPY)

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Dan,

More middle east crap as usual.

Friday June 6, 12:35 pm ET
By Adam Schreck, AP Business Writer
Oil prices jump to near $135 a barrel on weaker dollar and prediction of price spike

"We had a rally of something like $12 in about 24 hours. It makes no fundamental sense," said Stephen Schork, an analyst and trader in Villanova, Pa. "With oil pushing back up to the mid-$130s, it's the make it or break it point. If we go past that, we set the course for uncharted waters and head up toward $150."

Growing tensions in the Middle East may also have helped prop up oil prices. Israel sent aircraft, tanks and ground troops into the Gaza Strip on Friday, and a Cabinet minister hoping to replace embattled Prime Minister Ehud Olmert was quoted as saying Israel will attack Iran if it doesn't abandon its nuclear program.