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MARKETS LIVE BLOG:

STOCKS SLIP WITH MIDEAST TENSIONS, EARNINGS IN PLAY

Oil pares losses as traders anticipate Israel's response to Iranian attack

Taking Advantage Of The Biggest Blunder In Oil

Baystreet.ca
Updated

It’s one of the most unbelievable energy stories of the year. A Chinese oil company was sitting on what might be a major oil discovery - a 182-million-barrel probable reserve, with great potential to grow. They spent hundreds of millions of dollars and sunk 13 wells, shot or acquired 6,700 km of 2D seismic, and shot over 1,000 km of 3D seismic. Then - thanks to a weird quirk of Sudanese geology - they gave away the entire African mother lode for free. They literally abandoned their ... Click here to view full article