Friday, February 24, 2012

Iran Concern Boosts Oil Prices

Oil prices continued rising on Friday on concerns over Iranian supply, with dated Brent spot trading above $125 mark.

“The supportive factors are on the supply side - Iran and Iran and Iran, with a bit of Syria and Sudan,” said Christopher Bellew, a broker at Jefferies Bache in London. “It would not be at these numbers if it was not for the supply-side problems.” [Reuters, 24 February].

For example, Japan is expected to cut Iranian crude imports by a more-than-expected 20 percent as it seeks a waiver from US sanctions [Reuters, 24 February].

Iran said on Thursday it had maintained oil production levels despite sanctions, but analysts suspect the country was storing crude at sea while looking for new customers to evade sanctions.


Anonymous said...

Obama blamed Iran for oil price hikes..I wonder why..hmmmmm ;)

If the medicine's side effect is worse than the disease itself, don't use it.

mat said...

Who hurts who?

Anonymous said...

I keep telling you guys.... God is on Iran's side, you wont believe me.

Get used to it.

When Barbarossa came to fight Sallaheldin and it would have been the end of Sallaheldin if Barbarossa had reached Jeruselem..... but somehow he fell from horse or his horse dropped in in a river an he drowned... so his 100 000 strom Germanic wariors left and returned home.

Sometimes Gods ways are simply ... ???!!!!!

Bless Iran and all Iranians except the MKO

Anonymous said...

----who hurts who?------

well, it's safe to say that the ordinary citizens of Iran are being hurt by a regime that lies to the IAEA and allows Iran to be progressively more cut off from the world with a deteriorating currency and ever-higher prices for food and electricity,

higher oil prices in the west aren't going to hurt western economies anywhere near as much as a failure to be able to sell oil is going to hurt the Iranian economy.

iran has essentially one economic export, and when the income from that decreases, the Iranian economy is going to crumble.

Anonymous said...

Bless Iran and all iranians except the regime thugs.

Anonymous said...

These regime nutters think by stopping Iranian oil it will destroy the Western economies the answer is negative you morons.
And the funny part about these morons is that they live in the West and benefit from its freedoms yet they curse it at the same time typical Hezbollah empty headed cretins.

Oh and bless Iranian people and curses to the ruling fanatics and their minions be it in Iran or abroad.

Anonymous said...

Some of the grown-ups who comment here had stated that there is NO EXCESS OIL CAPACITY and daily US/Zionist impoteent rants will only help DRIVE-UP the OIL PRICES. Iran is in the drivers seat at OPEC and has a firm handle on the situation. The FACT remains that the idiotic US threats and flip-flops are only destroying the deadbeat US economy faster. Gasoline prices even without a suicidal Persian Gulf shooting match are headed for $6/7 this summer,especially in high-unemployment and hopeless states like New York, California and the rust-belt. US should put a permanent muzzle on the Zionist rabid dogs and learn to treat Iran as a major power.

A good analysis in Asia Times summarizes the Saudi bluff as the dollar doling Arab petro-pimps of Persian Gulf simply don't have the capacity to ramp-up OIL PRODUCTION as well as keep their uppity bedouins from joining in the "Arab Spring" and US approved "Islamic democracy".

The powerful Shia axis with over 120 million people spanning the Persian Gulf through to Iraq, Syria and Lebanon should give even the most insane Iran baiting warmongers pause for thought.

Anonymous said...

i am wondering such a huge ecconommy force west and usa put on iran durring the 33 years with somaney complax campain and everyone of them became as dust to iran government how could they managed to fight this country to win the war ,although they might know west for sure could lose big in war againest iran and hope to see soon this war to start up as israel wishes tohave and all the time bargging for war be sure prepeared for it because this time is for realy you do not have any chooce too fight or die.

mat said...

Sun Feb 26, 2012 12:43PM GMT

Iran has refused to deliver a 500,000-barrel shipment of oil to Greece in response to EU oil sanctions imposed against the country.

According to a report by Fars News Agency on Sunday, oil tankers that had come to transfer 500,000 barrels of Iranian crude oil to Hellenic refining complex in Greece were forced to return empty-handed after the Islamic Republic refused to deliver the shipment.

Iran announced on February 21 that it will only continue exporting oil to the European Union if the member states give a guarantee to pay the price and sign medium- and long-term oil purchase contracts.