A longstanding target at 85.51 that we’d just about given up on is still in play, implying that camouflageurs looking to get short from near these levels might enjoy a small edge. Camouflage is essential in any case, since shorting crude implicitly discounts geopolitical risks that could send quotes soaring on any given day (or night). ______ UPDATE (July 26, 1:56 a.m.): We’ll forget about this one for a while, since crude seems to be enjoying frightening the energy-using world by frolicking near $100.
