It may make the March run a little higher and longer, most likely to the 1440 area with an outside shot at 1520 (depends a lot as to how it is resolved), this will not however change the underlying causes for the Nassacre, the lack of robust increase in end demand to soak the current excess capacity. The positive impact would be through expectation of lower prices of Crude, IMTO, which currently are acting as a major tax increase,completely neutralizing the monetary and fiscal stimulative steps taken by the Feds and the government. The war in Iraq is only an "excuse" for the denouement of what was supposed t happen anyhow.
Zeev
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