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Iran war fear to set oil market on fire! [Copy link] 中文

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Post time 2012-2-24 09:45:57 |Display all floors
Iran war fear to set oil market on fire: US energy experts
Fear over the closure of the Strait of Hormuz was the biggest reason why gasoline prices in the US hit an all-time January high in the first month of 2012.
Thu Feb 23, 2012 6:6PM GMT
It's a market that's caught fire. And it doesn't look like there's any circuit breakers to stop it."
Ben Brockwell, analyst at the Oil Price Information Service


US energy experts say the escalation of tensions between the United States and Iran will prompt a rise in the price of gasoline in the US, stating that a primary 30-cent increase per gallon will be just a beginning for further price hikes.


Gasoline prices have already increased by more than 10 percent over the last two months, following the increase in global oil prices, according to a report published on the CNN website said on Thursday.

According to the report, several factors, including supply disruptions in a number of oil producing nations, have caused the prices of the energy source to rise, leading in return to a similar increase in the prices of such oil byproducts as gasoline.

“But the biggest factor [behind the oil price upsurge] by far, say analysts, is fear that tensions with Iran will lead to an all-out war that causes a disruption in oil supplies,” the report said.

"The market right now is fairly well supplied, but you've just got a significant fear factor that things could get worse," said John Kingston, the director of the oil department at Platts energy analysis institute.

The expert said the fear is that Iran's 2.2 million barrels a day in crude exports could be cut off.

Other experts maintain that a worse fear is over the possibility that the 17 million barrels a day that flow through the Strait of Hormuz and account for one-fifth of the world's total production could be disrupted in case of a war.

The AAA Energy Service Company has reported that fear over the closure of the Strait of Hormuz was the biggest reason why gasoline prices in the US hit an all-time January high in the first month of 2012.

"It's a market that's caught fire. And it doesn't look like there's any circuit breakers to stop it," said Ben Brockwell, an analyst at the Oil Price Information Service, which collects data for the AAA.

Unless the situation with Iran cools off, he added, and future prices decline, consumers will likely see the 35-cent-a-gallon difference in the form of a similarly paired price hike at the pump in a matter of weeks.

Israeli officials have recently ramped up their war rhetoric against Iran, threatening the Islamic Republic with military strikes in case the US-engineered sanctions against the country fail to force Tehran into abandoning its civilian nuclear program.

The United States, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear program.

Iran refutes the Western allegations, and the International Atomic Energy Agency (IAEA) has never found any evidence indicating that Tehran's civilian nuclear program has been diverted towards nuclear weapons production.

Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-2-24 09:46:49 |Display all floors
RatAnnYaahoo
Feb 23, 2012 9:58 PM
hi guys,There's a little known fact, I'd like to share with everyone here.America is in fact a NET EXPORTER of oil, but they prefer to keep that quiet!!!So the higher the oil prices, the happier they get!!
Like 10 | Dislike 2 | Reply
jim
Feb 23, 2012 9:49 PM
Propaganda apathy=fear fear= higher gas prices…
Like 5 | Dislike 0 | Reply
Hey Cuthbert
Feb 23, 2012 9:29 PM
UK pays for the whole American Navy. You probably didn't know that.
Like 6 | Dislike 2 | Reply
Doctor Saka
Feb 23, 2012 8:52 PM
Escalating oil price is Iran's true weapons of mass destruction. Meanwhile‎"The EU's oil embargo on Iran = economic suicide", -Max Keiser
Like 7 | Dislike 0 | Reply
AB
Feb 23, 2012 7:53 PM
In another words they are burning with their own fire. Can anyone imagine what would they suffer if they repeat their evil lairs to the world and attack Iran.
Like 1 | Dislike 0 | Reply
mehdi
Feb 23, 2012 7:28 PM
With the West we need to talk their language. See how they impose sanctions. This is the language they know. It is not their fault that they don't understand when someone says nuclear weapons are a SIN and having them is Haram. All they know is money. Cut the oil from them, then they understand what it means.
Like 33 | Dislike 0 | Reply
Parsi
Feb 23, 2012 6:46 PM
Allah O' Akbar!Hallelujah!Praise God Almighty!They try to hurt Iran, it turns out to more wealth for Iran.I recoken, If they attack Iran, Heaven Comes to Earth....Bank On It...
Like 37 | Dislike 1 | Reply
jeffry
Feb 23, 2012 6:44 PM
they have lost the soft war now they have also lost economic war only millitery war is left and they know they cant win so looks like they make there excueses and run away now ha ha ha
Like 33 | Dislike 0 | Reply
Cuthbert
Feb 23, 2012 6:37 PM
Let the Americans suffer. They and their allies are the ones always making the threats so let them live with the consequences. We in Britain pay more than twice as much at the pumps for petrol than the Americans do so how can they still complain? Americans are just immoral and greedy and will kill innocents to feed their hunger for oil and contracts.
Like 41 | Dislike 3 | Reply
no changein reply to Cuthbert
2/23/2012 7:45:23 PM
Americans still driving big cars Fast. No signs of carpooling. Few plans to make USA bicycle friendly. People too dumb to connect inflation with cost of war. Nothing has changed.
Like 1 | Dislike 1
Bilal
Feb 23, 2012 6:26 PM
America would have attacked Iran long time ago but their prcious black gold oil was holding them back and thats why the telling the 51st state Isreal to back off.
Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-2-24 09:50:49 |Display all floors
Oil prices spiral up after Iran cut sales to EU
In Thursday’s trades, Brent crude for delivery in April was traded at over USD 123, having hit a session peak of USD124.09 per barrel.
Thu Feb 23, 2012 11:23AM GMT

Global crude prices hover around their highest levels in nine months after Iran warned that it may cut its oil exports to more EU member states.


In Thursday’s trades, Brent crude for delivery in April was traded at over USD 123 after hitting a session peak of USD124.31 per barrel.

The price hike comes on the heels of a report by Press TV last week that Iran would cut its oil exports to six EU states, if they fail to sign long-term deals with Tehran.

Later on Sunday, Iran’s Oil Ministry announced that it has cut oil exports to British and French firms in line with the decision to end crude exports to six European states.

The move comes as Iranian Oil Minister Rostam Qasemi had earlier hinted at the possibility of Iran’s halting oil exports to certain European countries.

Meanwhile, the world's largest oil trader, Vitol, has warned that crude prices could spike above USD 150 per barrel if tensions with Iran escalate further.

European Union foreign ministers agreed to ban oil imports from Iran on January 23 and to freeze the assets of the Iranian Central Bank across the EU in a bid to pressure Iran over its nuclear program.

The sanctions will become fully effective on July 1, 2012, to give EU member states enough time to adjust to the new conditions and find alternative crude oil supplies.

Despite the widely publicized claims by the US, Israel and some of their European allies that Iran's nuclear program may include a military aspect, Tehran insists its nuclear work is civilian in nature.

Iran argues that as a signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to develop and acquire nuclear technology for peaceful purposes.

The IAEA has conducted numerous inspections of Iran's nuclear facilities but has never found any evidence indicating that Tehran's civilian nuclear program has been diverted towards nuclear weapons production.
Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-2-24 09:51:55 |Display all floors
Paul
Feb 24, 2012 12:20 AM
The EU depends on Iranian oil. It's economy will only be worse off without it, so why did these idiots agree to this? They are shooting themselves in the foot with these embargoes and sanctions, especially with all the economic chaos in Greece, Ireland, Spain, Italy and elsewhere. What are they trying to do? Purposefully destroy their own countries?
Like 0 | Dislike 0 | Reply
jeffry
Feb 23, 2012 6:20 PM
gaddafi was thretend by bush so he gave up his nuklear reactor then he paid compensashan for crimes mossad did lokerby bombing .soon after they had him assasenated and ocupied libya.live like a mouse die like a mouse iran is brave lion and lives like one and if need be will be shaheed like one if gadafi had nukes he would still be alive today
Like 18 | Dislike 0 | Reply
maes
Feb 23, 2012 4:3 PM
US wnats to misuse EU and alter it's future by having it confront !ran
Like 21 | Dislike 0 | Reply
Doctor Saka
Feb 23, 2012 2:52 PM
Hike in oil prices, Iran's true weapons of mass destruction. I hope the debt stricken US and EU truly know this
Like 40 | Dislike 1 | Reply
hans
Feb 23, 2012 2:34 PM
high oil pricesmeans more money to the british exchequer! so as other countries suffer the British government prospers, so more wars for the zionist empire!
Like 20 | Dislike 3 | Reply
Pot Less Britainin reply to hans
2/23/2012 10:04:04 PM
I do not agree you are a bit dreamer. British gov are in deep waters and can not see the way out of it.
Like 7 | Dislike 0
REALIST
Feb 23, 2012 2:19 PM
When the price of oil goes up in the west, everything else will go up too!! The bankrupt Zionists puppet western countries are oil hungry and and increase in the oil prices will hurt them badly!! Someone needs to put a bomb in one of the Saudi oil pipelines and watch the price of oil double over night!! A job for the Eastern Arabia that is seeking freedom from their barbaric tyrant rulers!!
Like 40 | Dislike 0 | Reply
Ali
Feb 23, 2012 2:2 PM
Most EU politicians are US spies and therefore do not have the interest of their countries at heart..They'll do anything the US tells them even if it destroys their own country..This latest sanctions is a clear example of how the US controls and manipulate Europeans through their "selected" leaders.Iran must take this opportunity to develop closer relationship with the European people in order to isolate their leaders.
Like 29 | Dislike 0 | Reply
Oizaz Lahcen
Feb 23, 2012 1:37 PM
Gains in the energy sector should be largely invested in renewable and non fossil energy sources. Nuclear energy should be lifted anywhere on world-SAFETY minimum standards. The entire fuel cycle must be fully under control of a credible global institution with no exceptions for any country. It makes no sense to invest increasingly large sums in finding and unlocking increasingly difficult to extract oil wells. The current petroleum giants must play a leading role in this change. If they are not willing to do so, these companies must be nationalized or internationalized with other words establishing associations subject to market and political liability.
Like 14 | Dislike 3 | Reply
South African Muslim
Feb 23, 2012 12:21 PM
Salaam. This is NOT what they wanted. But IS what you get when you threaten someone!! Now pleeease don't cry! You looking like a child. You won't do it again will You? So please sign some good long-term contracts so we can all get back to work. Thank you.
Like 46 | Dislike 2 | Reply
Bobur
Feb 23, 2012 12:2 PM
Keep up pressure on EU,Iran.Give their medicine themselves.Let them taste it.Stop all oil exports to EU,USA and Israel will deliver them crude oil.They will cry soon...What a nice weather today!
Like 52 | Dislike 2 | Reply
Jamie
Feb 23, 2012 11:34 AM
Ha ha ha; These sanctions must be really hurting Iran!!!!! I can hear the party all the way as far as London. Poor little EU!
Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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