Oil prices are on the rise this morning, despite some soft economic data out of China. The first days of a new quarter often rallies generated by new money going to work in long-only index funds. This phenomenon may be exaggerated this time around, due to some fallow dollars, refugees from bond funds, taking a turn at oil. With the protests in Egypt and reports of more strife in Libya, the geopolitical risk premium is being reflated. The battle within Syria, which is a battle for the region, is escalating still. Syrian forces hit rebel positions in Homs,
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