Brent Crude Pushes Back In The Direction Of $120
Brent crude prices passed back above the $117 a barrel level. Traders, at least most of them for now, think that the trouble with Iran is not over. Sanctions against the nation could interrupt the supply of oil and Western nations…
Brent crude prices passed back above the $117 a barrel level. Traders, at least most of them for now, think that the trouble with Iran is not over. Sanctions against the nation could interrupt the supply of oil and Western nations confront Iran’s nuclear arms program. Iran still threatens to close the important shipping lane through the Strait of Hormuz. Saudi Arabia said it could make up part of the shortfall, but the lack of supply would be too large even for the world’s largest oil producer
In addition, a colder than expected winter in Europe has increased demand. And, demand is expected to continue into the spring, particularly if the US economy continues to recover
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
