As WTI Passes $105, Guardian Says Iran "Military Action Likely", Would Send Crude Soaring
Between the Chinese 'surprise' RRR and the Iran export halt to UK and France (and escalating tensions), Oil prices are off to the races this evening. WTI front-month futures have just broken $105 (now up more than 10% in the last two weeks), the highest levels in over nine months and just 8% shy of the 5/2/11 post-recession peak just under $115. Brent (priced in EUR) remains off last week's intraday highs (as EUR strengthens) but still above the pre-recession peak but in USD it traded just shy of $121 - well above last week's peak. Of course, this will be heralded as a sign of demand pressure from a 'growing' global economy rather than the margin-compressing, implicit-taxation, consumer-spending-crushing supply constraint for Europe and the US that it will become in the not too distant future. As we post, The Guardian is noting that US officials are commenting that "Sanctions are all we've got to throw at the problem. If they fail then it's hard to see how we don't move to the 'in extremis' option." The impact of any escalation from here is gravely concerning with PIMCO's $140 minimum and SocGen's $150-and-beyond Brent prices rapidly coming into focus - and for those pinning their hopes on the Saudis coming to the rescue (and fill the Iranian output gap), perhaps the news that our Middle-East 'allies' cut both production and exports in December will stymie any euphoria.
From The Guardian: US officials believe Iran sanctions will fail, making military action likely
• Growing view that strike, by Israel or US, will happen
• 'Sweet spot' for Israeli action identified as September-October
• White House remains determined to give sanctions time
"It's not that the Israelis believe the Iranians are on the brink of a bomb. It's that the Israelis may fear that the Iranian programme is on the brink of becoming out of reach of an Israeli military strike, which means it creates a 'now-or-never' moment," he said.
"That's what's actually driving the timeline by the middle of this year. But there's a countervailing factor that [Ehud] Barak has mentioned – that they're not very close to making a decision and that they're also trying to ramp up concerns of an Israeli strike to drive the international community towards putting more pressure on the Iranians."
Chart: Bloomberg
(15 votes)
»
- Login or register to post comments
- 21666 reads
- Printer-friendly version
- Send to friend
Haven't talked with anyone directly yet. But have heard some talk of $110bbl immediatly off of current prices. That's WTI not North Sea ( Brent) which I would guess would jump to $122 ish.
Now or never, remember? Like take that 9mpg Ford Expedition for one last load at Home Depot for the final touches on your flip house in Clearwater before your $2k in Obama/Bankster payola that won't buy much more than a few days/weeks time. Do you renew that Netflix subscription? Do you want to eat Alpo the rest of your life? Come on man!! It's now or never!!!
I had a dream Israel was wiped off the map in a world war and nobody cared.
KILL THEM ALL!
AFTERALL THE MIDDLE EAST WAS A PEACEFUL PARADISE FOR THOUSANDS OF YEARS PRIOR TO THOSE AWEFUL EVIL ZIONISTAS.
Asalam Alekem Brothers.
You guys are fucking nuts. This is all part of albert pike's three world wars plan to establish a satanic world government. look it up
Ahh - an Albert Pike reference. Loves it! A big +1 to you, my friend.
I'll name drop Nikola Tesla, just for shits and giggles.
I can almost hear Bush and Cheney now....
Bomb bomb bomb....bomb bomb Iran!
Bomb bomb bomb....bomb bomb Iran!
This is not looking good. With a Greek default less than a month away unless massive new printing can be agreed upon, it appears that the elite are instead choosing plan B: Start WW3 and blame Iran for the collapse.
http://silverdoctors.blogspot.com/
I think we're about to get a crude awakening.
That's not punny.
Oil be the judge o' that!
FYI - Bush and Cheney haven't been president for 3 1/2 years. Wake up, Rip Van Winkle.
MSNBC news, CNN news, and FOX news has 320 million American's licking 6 million Israeli bung holes.
That's the way I see it.
Michael, how's your anal fixation these days?
Correction. It was plan A all along.
Albert Pike was not mentioned upthread for nothing. Hell, the masonic satanists outlined this in 1871.
Do you mean Albert Shanker?
Michael Schenker, UFO
Rudolf Schenker, Scorpions
Michael Shanks, Stargate
US was going to do a quick strike with the drones, but realized that Chinese hacked the drone communication technology and gave it to Iran.
Moreover, Iran also has their own drones perhaps provided by Russia/China aerospace.
Russia and China said they will support Syria.....Iran's only friend in ME.
This is not some blacksheep Sadaam's Iraq or dirt poor Afghanistan with 100year history of foreign invasions.
Iran = ex-Persian empire....they know the game....so they beat US to it....
-
Just like the failed anchovy harvest in the 70s along with OPEC that caused the last inflation shock, it looks like those awful Iranians are going to cause another inflation storm now.
Don't mention the printing of trillions of paper dollars by Western central banks.
The Iranians are doing this because they hate our freedoms. Freedoms like the TSA crotch groping, FBI wiretapping, having the right to have a bank robosign away your title to your home, and all that stuff.
If only the average american "homeowner" knew how fucked up the chain of title was for residential proprty in the U.S....
The chain of title is not remotely fucked up... we know the owners of record for every property... and, if incorrect (e.g. death of owner and failure by heirs to properly record conveyance to them), then affidavits can be used to fill in the gaps.
The problem that we have is with potential clouds on the titles...
Note: who do you think is going to win, a bonafide purchaser, for value, of a home without a recorded assignment or a 15 level downstream assignee of a mortgage who has no real paperwork to prove the assignment? Best case scenario, when the BFP closes and pays the lienholder of record, the last assignee has a cause of action against whoever got the proceeds...
The law has a lot of safeguards built in... and they're going to get ramped up starting this year, but especially next... just watch. (and you thought the banks were undercapitalized now...)
Diversification is important.
The Iranian built jet fighters will be wiped out in a couple of days. Their only hope is a guerilla war and attacks on US, EU, and Israeli soft targets around the world. They do have some decent SAMs from Russia and China, so that might protect them a bit.
Let's not overstate it, they created a small fast-jet trainer, and put a gun and small bomb payload on it.
It's no more a fighter than a US, Brit or Russian trainer, with limited avionics, ground-attack options, and A2A weapons.
Those limited capabilities are there simply so these aircraft can fulfil their role as a combat and weapon trainer.
They would have almost no hope of getting into an effective firing position in any real battle, and zero hope of survival.
It will greatly assist Iran to design and develop a real second-tier fighter one day, and especially attack aircraft, and the necessary avionics etc., but they are coming from way behind.
My guess is they're going to buy latest-gen Russian or Chinese offerings in the interim, and a lot of very impressive precision missiles.
Barter is good.
China needs the oil and Iran needs a new first tier multirole attack aircraft, with real first-tier fighter capabilities.
I'm pretty sure they will find an agreeable medium of exchange, for such a trade.
here I am...
SwingForce said:
and Bolweevil said:
Rudolph Schenker and his seventeen year old little brother Michael, Scorpions:
http://www.youtube.com/watch?v=e1BGCechX3Y
Scorpions - Wind of change
http://www.youtube.com/watch?v=YFh2vpGeoIk
Probably not.
But folks might want to notice that it's late February. The northern hemisphere's agricultural base is getting ready to buy fuel for the tractors that plant the food the world eats. Planting season starts in just a few weeks. They'll be buying at $110/barrel.
Think that food will be cheap this year?
Long U.P. Speedbeef....
I'm sure it was just a coincidence that Corzine and his henchmen at MF Global largely destroyed the futures positions of said farmers.
Food prices? Maybe they will stay cheap via futures manipulations until a real shortage exists.
you can't eat paper food futures....
muahahahaha
We just talking about this today. Our locally grown organic tomatoes will not seem so highly priced this year. Imported fruits and veggies will become very expensive. Grow what you can yourself. There are great container garden websites available now for those who can not plant a whole garden.
was thinking about this too as I put in more garden space
Also putting in more garden this year, doubling. I love fresh veggies, not to mention having food...
You really can grow alot of stuff in limited space if you try. I usually start a dozen or so more cherry tomatoes than I am going to need, then give them away at work. I was surprised at how excited people were when they would tell me that they tomatoes. Going to run my long beans up the south side of the house this year to free up space in the main garden. Got a second solar powered electric fence controller to keep the deer out.
Drip irrigation is so cheap nowadays that even those with little time in tougher climates can grow quite alot with minimum input.
pods
the Australians have done some great work on low water agriculture. Organic content of the soil is KEY. Soil with 2% organic can hold 75 percent more water than soil with 1. It's a giant sponge principle and it makes common sense. You can also build systems to catch and retain the rain that falls - from tank systems to mere ponds and carve outs in the hills that let it slowly seep into the earth below. I'm amazed the southwest doesn't require this. Have you ever seen Greening the Desert with Geoff Lawton?
My goverment tells me that high fuel prices won't effect my food prices because food and fuel are not included in the Conumer Price Index,so with inflation not being a worry,////don't worry...../Sarc
This isn't gonna affect plastic rice is it?
Unfortunately, since plastic is a product of oil, yes, your plastic rice is going to cost more; however, real rice, if hand-harvested, will cost less if produced locally, so you may be better off with some white basmati.
Sorry Albert, Michael's plan is now in effect.
The world's private central banks have been stuffed to the rafters with its member banks toxic waste. The central banks have so much toxic debt shit coming out of their ears they themselves created, they will blow themselves up into a quadrillion pieces leaving them and their member banks worthless, never to be heard from again.
I love it when my plans come together.
go engrave some min wage swastikas you fucking loser hater.
overall effort and attitude is good
you know it! cleaning the retardo diaper and sputum off the 0h on a gorgeous Sunday evening listening to mellifluous tunes.
some about here and elsewhere give anti-zionism a bad name but israel has a lot to answer for and answer for it, it will.
http://www.ijsn.net/home/
Clarinet by any chance?
KILL ALL THE EVIL POS ZIONISTAS!
Beyond being what should be naturally lawful imbecile,
being a jew hating doomsdayer is not unique or novel.
Aslam Alekem Brother Abdullah.
you are a troll
(And not a very good one)
If he took the broomstick out of his ass, he might not be in so much 'pane'.
You are a Provocateer(spelling)? and/or a Govt plant....
But definately an Idiot.
provocateur.
though provocateer has interesting associations: privateer, racketeer, mouseketeer.
You can be either an "agent provocateur": http://en.wikipedia.org/wiki/Agent_provocateur
or shop at "agent provocateur" (NSFW): http://www.agentprovocateur.com/?cmp=PS010203&gclid=CJnmivrWrK4CFQff4Aod...
Good thing the Crusades brought peace to the region.
No the Dark Ages were some of man's best days, I was just reading that the avg roman farmer was much more prosperous during them than during the empire. Oh yea I read it here on oppositeworld.com.
Good thing the former eastern bloc, parts of latin america and parts of asia haven't blown by the middle east the the last 100yrs despite not finding oil.
how is any of this our problem?
Let the desert jockeys all fight it out amongst each other. If the joos win or lose, who cares?
This is our problem because the oligarchs you support want more oil to feed their machine. The whole nuclear thing is completely irrelevant, but it works great for the blood hungry sheep.
It's funny, I had never thought of it as Trav supporting the status quo, but rather just Trav wanting everyone that wasn't him to die. Come to think of it, it makes perfect sense now.
You're an ok guy Rand, even if your ideology is poisonous.
My ideology is freedom from the oligarchs. Then again, it's not really an ideology because I think the solutions are extremely complicated and difficult to implement. They certainly involve the little guys banding together to fight the power by sheer number. that's poison to many.
Even after signing the Magna Carta, the King of England tried to revoke it. He signed it because he was under the gun. Kind of like the oligarchs that let America exist for a couple of hundred years.
"They certainly involve the little guys banding together to fight the power by sheer number." - funny, most solutions have that formula
the oligarchs *I* support? WTF are you smoking, man?
Must use that unicorn piss to fire up the computer.
Caliphate, coming to a US city near you...
When the tar babies are cutting the heads off of people in our back yards it will most certainly be "our problem"...
head's cut off?
Can't be as big a problem as is let on, since you definitely runnin around without one, yet still able to perform basic tasks like typing...even if at a reduced neural capacity.
Kinda handy, havin your brain where your ass supposed to be ain't it!
Typical Libtard diarrhea . You sound really smart you genius you
They can't cut heads off here or in Europe unless our corrupt governments willingly allow them to immigrate here.
cease immigration. End of problem. Enforce law.
When white backlash comes, it is going to be very ugly for everyone in the way. White people, unlike muslims and joos and all the other agitators, really do know how to kill.
ok Trav...you have officially jumped the shark here...in a Klan robe
how the fuck is that relevant? The ME was fucked up and WE DIDN'T CARE. Nor should we.
The oligarchs want to own it. It's what they do. It's all a big super market to them.
is there ANYTHING you just said that I haven't explained in great detail 1000 times already?
Do you honestly think I was asking you for an explanation as to why we will inevitably invade Iran?
The post I responded to wasn't about Iran, it was about Israel.
Some arrogance is built on knowledge. Other forms have a complicated, darker genesis
You heartless bastard! ... you obviously don't have shares in Lockheed Martin.
Israel this and Israel that ! I'm totally fed up of the world affairs being dominated by
what 6 million people want and don't want. I share your view that I don't think anyone would give a damn
So, you think all principles are the same and there is no point in distinguishing among them.
Not. Some principles are better than others. Some behaviors are better than others. Some world views are better than others. It is a worthwhile activity to distinguish among them.
If you respond, be careful to not respond to what I am not saying.
uh, you didn't respond to what he WAS saying. Your entire post is a non sequitur, so STFU
Correct. Just like nobody cared about another FBI patsy trying to bring terrorism to the US. This time they used an alleged suicide bomber wanting to blow up Congress? Really? Who would have cared?
FBI the King's new jesters?
A large group of Americans would have applauded if he had succeeded at blowing up Congress...
I think the US will need a ' V for Vendetta ' moment in the future if it is too be saved.
A act of home grown terrorism against a fascist government that the suppressed 99% will come out and applaud and support.
I had a dream Israel was wiped off the map in a world war and nobody cared. ... that's strange, i've had that exact same dream !
What would jesus say?
Mary and Joseph.... I need another glass of wine! Nevermind, I got it. P.S. I'm just jealous.
jesus would say: those fuckers had me killed. fuck'em!
jesus would say: de shrubs a leetle shorter, meester?
Senor, make mine a double Margarita.
He would remind us that if we looked a little more closely at Genesis, and did some extra research, we would realize that the "Jews" in Israel are not the real Jews, to whom the land of Israel was given. Look it up. As a Christian, I would have absolutely no problem getting rid of Israel and giving it back to the real BIOLOGICAL Jews - the Palestinians.
"As a Christian"
I don't recognize your sentiments as being Christian. Revisit the parable of the Good Samaritan (Luke 10), where Jesus explains to the Scribe (who in the parable is represented by the man left for dead) "which of these three was like a neighbor to the man who fell into the hands of the robbers?"
Jesus came for Jews and Gentiles alike. Sin entered the world, and every man in it, through one man (Adam) and was soaked up on the cross by another (Jesus, the "second Adam"). Thus anyone who follows Jesus is part of the new-covenant body and nation of "Israel."
The distinction you make is irrelevant to Jesus, for as Paul writes in Romans 3:22-23 "there is no difference, for ALL have sinned and fall short of the glory of God, and are redeemed by Christ."
Selah.
All I am saying is that many Christians would defend Israel's right to exist quite vigilantly, however it's really the Palestinians land. I know that God came for both the Jews and the non-Jewish (Gentiles). But what does that have to do with the argument over who owns the land of Palestine?
Even the Bible is open to interpretation and spin. But surely we can have the objective Rule of Law advocated by the Randers.