Crude Oil pushed past $75 on Friday as the commodity buying frenzy continued. In the case of oil, the speculative bull market has been aided by fears that a U.S-led attack on Iran might interrupt oil supplies and take 5 million barrels a day offline in an already tight oil market.
There are a number of longer term factors that point to rising prices generally, but this week, we can see in the transit chart above that transit Mercury (13 Pisces) is moving into a nice conjuntion with the Sun, while activating the trine with Uranus and Jupiter.
Another short term factor is the applying opposition aspect of Jupiter to chart ruler Venus. We can expect higher prices in the short term as this aspect perfects, especially as transit Venus enters sidereal Pisces. Look for a short term peak around May 11 as transit Venus conjoins natal Sun and once again sets off that favourable Jupiter-Uranus conjunction in Scorpio. Very approrpiate for a liquid that is found underground.
