Crude may rise on Iran fears: survey

[UpInArms]

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=70473&version=1&template_id=48&parent_id=28

NEW YORK: Crude oil, $4 from a record $70.85 a barrel, may rise in New York next week on concern Iran’s resumption of nuclear research will lead to sanctions and cut off supply, a Bloomberg News survey shows.

Thirty-one of 53 analysts surveyed, or 58%, said prices will rise next week. Nine forecast prices will decline and 13 expected little change. Last week, 53% said prices will increase.

Germany, France and Britain called for the UN nuclear watchdog, the International Atomic Energy Agency, to rule against Iran, the world’s fourth-biggest oil producer, and refer the issue to the Security Council for possible sanctions.
The IAEA will discuss the matter on February 2 and 3.

“The Iran affair will come to the fore as a result of the IAEA meeting,’’ said John Kilduff, vice president of risk management at Fimat USA in New York. “We could be squarely on the road to curtailed Iranian oil production as a result, pushing prices up.’’

...more...

hang on to your wallets!

[Toots]

1. fourth quarter profits weren't high enough I guess

Oil giants experienced largest one quarter profits ever in their entire history and yet prices continue to climb...Americans are stupid enough to give their collective shrug and give a rah rah to the Bush* Cabal...

[cliss]

2. There is only ONE good thing that will come of this -

last year, gas prices started to go up dramatically. At one point, they even approached $3.00/gallon. California had notoriously high gas prices for a while.

As gas prices go up, guess what happens to Bush's ratings? They go into the toilet. That's exactly what will happen this time around.

And for those foolish enough to still continue driving gas-hogs (even after last year): you have been warned.

[Bushwick Bill]

6. SOB will release SPR reserves

This is what kept prices in check after Katrina took out Gulf production. I can see him doing it in time for November.

[Dixie Flatline]

3. Ready for $262/barrel oil?

http://money.cnn.com/2006/01/27/news/international/pluggedin_fortune/index.htm?cnn=yes

[lovuian]

4. WHOAH!!!

No I'm not ready!!! Super OUCH!!!

[Delphinus]

5. Thanks, Dixie.

I had that in my inbox when I got home today - just getting ready to post.

[Earth_First]

8. This article predicts the scenario under a Saudi collapse...

"The fall of the House of Saud seems the most far-fetched of the six possibilities, and it's the one that generates that $262 a barrel."

Not the impending Iranian situation, which too, will drastically affect already volatile prices. However, the article predicts nothing to the tune of $262 as the headline implies, and the OP ties to the original article with Iran and the IAEA next week.

[oblivious]

7. "May rise"? ... "Is rising" more like!!!