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WASHINGTON — Crude oil futures jumped above $72 a
\n barrel yesterday after the fatal shooting of an American oil worker in
\n Nigeria and a refinery snag in Texas exacerbated supply concerns.<\/p>\n
The rally came in spite of US government data released yesterday that showed
\n an increase in oil and gasoline supplies, highlighting just how nervous
\n the market remains about everything from geopolitics to the weather.<\/p>\n
At about $70 a barrel, oil futures prices have been supported for weeks
\n by concerns ranging from the West’s diplomatic confrontation with Iran,
\n a thin supply cushion, and the coming hurricane season, among other factors.<\/p>\n
”The market is so jittery right now," said BNP Paribas Commodity
\n Futures broker Tom Bentz, one of several market participants who said prices
\n may take yet another run at last month’s record above $75 a barrel.<\/p>\n
from the Boston No Tom, you have to say the market is so jittery THAT….it Pet peeves aside, what strikes us as interesting At that rate of exchange, and if they could get away It would be obvious that the Gods favored the supplications,because The Saudis, who already have more money than they All kidding aside, one has to respect the brilliance Bad weather, in any one of a dozen parts of the world, We’ve been snookered, boys and girls, and in the process But that’s the first step.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":" WASHINGTON — Crude oil futures jumped above $72 a barrel yesterday after the fatal shooting of an American oil worker in Nigeria and a refinery snag in Texas exacerbated supply concerns. The rally came in spite of US government data … Continue reading
\n Globe<\/a><\/p>\n
\n needs to take a chill pill. Or something, but as an English teacher,
\n it chaps our ass when people say, for example, "I am SO grossed out…."
\n Please tell us, we plead, that you are so grossed out, as are we, that
\n you want to throw up.<\/em><\/p>\n
\n is that the assassination of a single American oil worker in Nigeria
\n could send
\n oil prices up $1.44 a barrel. Considering that current worldwide consumption
\n is around 80 million barrels PER DAY, the death of that worker is generating
\n $115.2 million of additional funds daily into the coffers of the oil
\n companies and producing states.<\/em><\/p>\n
\n with it, we are sure the oil companies would enthusiastically institute
\n a weekly, or even a daily human sacrifice, in the style and on the scale
\n of the Aztec Empire. Hugo Chavez would probably throw in a few IMFers,
\n and Iranian President Ahmadinejad might offer up some of those die-hard
\n Shahists it’s had rotting in cellar cells for 18 years now. <\/em><\/p>\n
\n the financial benefits would be, as they were in this case, immediate
\n and substantial.<\/em><\/p>\n
\n know what to do with, and spend most of their time trying not to attract
\n attention, seem vaguely embarrassed by the whole current price
\n spike,and would probably decline to participate.<\/em><\/p>\n
\n of the energy cartel. We have been maneuvered into a position where
\n almost
\n ANYTHING that happens on the world stage pushes the price of oil up.
\n Political developments, fighting in producing countries, Presidential
\n threats, mechanical failures, labor disputes, tanker accidents, sabotage
\n and rumors of sabotage, terrorist attacks completely unrelated to oil
\n – all of these and more send the prices to new highs, and the numbers
\n at the pump spin like those on a one-armed bandit.<\/em><\/p>\n
\n will send prices spiraling! How likely is it that there will be bad weather
\n in any one of a dozen parts of the world? Give us a break.<\/em><\/p>\n
\n we’ve gotten strung out, bad. So bad that going cold turkey would kill
\n us. All of us, and literally, not figuratively. So it’s not as
\n simple as waking up and realizing we’ve been snookered.<\/em><\/p>\n