Oil holds above $121 on tension with Russia

Oil prices held above $121 a barrel Friday in Asia after jumping more than $5 dollars overnight as investors. The crude for the month of October delivery was 17 cents at 121.35 a barrel in the electronic trading in New York Mercantile Exchange by midday in Singapore. The U.S and Poland signed a deal Wednesday to place a U.S missile defense base just 115 miles from Russia. The U.S secretary of state didn't accepted any suggestion about the missile of defense, so Poland threated Russia. Washington said the base would defend the U.S. Europe also threated the long distance missiles from Iran. Russia was starting to get ready for any attacks; digging trenches and setting up mortars. the U.S senator he wanted to see Russia to get kicked out of the Group of Eight for awhile and denied their entry into the world trade Organization as punishment for their actions in Georgia. there is an oil pipe line throughout the center of Georgia from Baku in Azerbaijan to Supsa on Georgia's Black Sea Coast. The oil line which has the capacity to pump up too 150,000 barrels a day.

my opinion on this article is even though gas prices are going up its because of our president because he depended on other countries. The other countries are going to take advantage from the U.S. fro not having the oil that we need. For Russia to threaten any other country it would be the U.S , cause why would the be threatening Georgia. Even though Georgia has the oil line.