1.   But its effect on spot oil prices - which skyrocketed - was used by the producers to justify a general price rise.

2.   But its effect on spot oil prices -- which skyrocketed -- was used by the producers to justify a general price rise.

3.   And big oil stocks like Exxon, Royal Dutch Petroleum and Chevron all declined despite another rise in spot oil prices.

4.   A rise in long-term interest rates, prompted by a jump in spot oil prices, did not help financial service stocks.

5.   Financial service stocks did better, helped by a decline in market interest rates and a further drop in spot oil prices.

6.   Lower spot oil prices did little to dissuade investors.

7.   Oil issues, widely perceived by investors as a safe haven, also moved higher, even though spot oil prices were down.

8.   Those who reject the thesis that spot oil prices could skyrocket argue that there is enough excess capacity to cope with rising demand.