Oil Prices Spike as Iraq Violence Flares

[EmmaPeel]

Oil prices spike today as Iraq violence flares

http://money.cnn.com/2014/06/12/news/oil-prices-iraq/

Our isolationist friends and neighbors need to realize we're all impacted by what goes on in the Middle East.

[EmmaPeel]

ISIS captures largest oil refinery in Iraq today. Now that's not going to be immediate since it's just a refinery and Iraq mainly supplies Europe, but this is a global market. Demand elsewhere puts pressure on the rest of us.

Like the Chinese. The surge in car ownership there has put upward pressure on prices for last several years. In other words, what happens over there impacts us, or can impact us over here.

[JasperST]

Don't worry, Mr. O is on it. As soon as he gets transsexual equality legislation passed. Whatever that is.

[JustAJ]

Don't worry, Mr. O is on it. As soon as he gets transsexual equality legislation passed. Whatever that is.

No, first he wants illeglas to get autmoatic citizenship, followed by taking all the legal guns away from law abiding citzens, followed by pardoning Eric Holder for his role in the F&F "operation" and finally by pardoning anyone who played a role in the Benghazi incident (which was caused by a video, as he said). Then he'll take a look at "doing something" in Iraq.

[Rudy8116]

Don't forget, be has to tackle the Redskins Name issue first as well.

And give demeaning commencement speeches.

And raise minimum wage.

And find Waldo.

And find out who killed Nicole and Ron.

And play some more golf.

And attend a few more fundraisers.

[EmmaPeel]

Don't forget, be has to tackle the Redskins Name issue first as well.

And give demeaning commencement speeches.

And raise minimum wage.

And find Waldo.

And find out who killed Nicole and Ron.

And play some more golf.

And attend a few more fundraisers.

LMAO...and don't forget appoint the learnEDDD Mr. DeCaprio in charge of the oceans.

[Seventy2002]

Oil prices spike today as Iraq violence flares

A "nearly 2%" variation constitutes a "spike"? $105.81/bbl is 9.6% below the September, 2013 price of $117.13

TWO factors determine the price of a barrel of oil: the fundamental laws of supply and demand, and naked fear.

[EmmaPeel]

A "nearly 2%" variation constitutes a "spike"? $105.81/bbl is 9.6% below the September, 2013 price of $117.13

TWO factors determine the price of a barrel of oil: the fundamental laws of supply and demand, and naked fear.

You're talking to an economist. You really wanna go around on this one? Look at the date I posted the thread. Do the research. That day there were all kinds of google links calling it a spike.

Besides, are you saying no impact on oil? Good luck being proven right on that one.

[EmmaPeel]

And no, as an economist, I will tell you there's a whole lot more than your two factors.

[EmmaPeel]

Here ya go. This was the title given by CNN to their article on June 12:



Oil prices spike as Iraq violence flares
By Mark Thompson @MarkThompsonCNN June 12, 2014: 8:39 AM ET


Oil prices spiked Thursday to levels not seen in nine months as escalating violence in Iraq sparked worries about crude exports.

[steve354]

Please correct me if I am wrong, But does'nt America have it's own oil fields . If so why Gods name would need to buy it from a other county.

[Seventy2002]

But doesn't America have it's own oil fields . If so why Gods name would need to buy it from a other county.

Because we consume 18.49 million barrels of oil a day and produce 11.1 million barrels of oil a day.

[Rudy8116]

Because we consume 18.49 million barrels of oil a day and produce 11.1 million barrels of oil a day.

You do realize how much we have in this country that we refuse to drill for?

[EmmaPeel]

You do realize how much we have in this country that we refuse to drill for?

Yes, but it's still in the ground...not produced yet. I thank Robert Redford more than anyone for that.

[steve354]

Because we consume 18.49 million barrels of oil a day and produce 11.1 million barrels of oil a day.

How about trying to it from a very friendly neighbor like Australia. Reason I that is because a lot of their oil comes from the Bass Strait which lies between the Australian maine land and Tasmania http://www.mapsofworld.com/australia/