Brent Oil price moving higher

[dan_s]

We may be having a mild winter in the U.S. but Europe is suffering with bitter cold, all the way down to Italy.

The price of Brent crude oil is soaring again (now over $117/bbl), as Europe is being forced to burn oil for power generation. Russian natural gas supply has been cut back as a major cold wave grips the country. Europe is heavily dependent on natural gas imports from Russia. Poland could be in serious trouble if this continues.

Read this: http://www.businessweek.com/news/2012-0 ... upply.html

This is very good news for FX Energy (FXEN). It is also good news for our S-16 that sell most of their oil into the Gulf Coast market where oil is priced much closer to Brent. Those are EXXI, EPM, DNR, GPOR and ROSE.