Not Logged In Log In   Sign Up   Points Leaders
Follow Us    3:19 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: US crude may breach $100 on Iran progress Back to Topics
brbaritone

Champion Author
Virginia

Posts:4,084
Points:2,400,140
Joined:Jan 2007
Message Posted: Sep 30, 2013 7:23:47 AM

U.S. crude oil futures may break below $100 a barrel this week as Iran continues diplomatic overtures towards the West, according to CNBC's latest market survey of traders, analysts and strategists.

Market uncertainty over the U.S. budget impasse and the debt ceiling will likely hasten any move below triple digits, survey respondents said.

Iranian President Hassan Rouhani and U.S. President Barack Obama spoke by telephone on Friday in the highest-level contact between the two countries in three decades, raising hopes of a breakthrough in Western efforts to prevent Iran from building a nuclear bomb, Reuters reported. Rouhani seeks to lift international sanctions which have cut Iran's crude oil exports by more than half since early 2012

"With Syria silent and Iran mellowing down" U.S....
Visit CNBC for full article
REPLIES (newest first) Post a Reply
Profile Pic
dandvicb
Champion Author Bridgeport

Posts:3,224
Points:1,739,090
Joined:Jul 2004
Message Posted: Oct 1, 2013 6:41:57 AM

Don't bet on it helping!! TOO MANY SPECULATORS!!!!
Profile Pic
zuess28
Champion Author Allentown

Posts:1,602
Points:344,575
Joined:Mar 2013
Message Posted: Oct 1, 2013 6:30:07 AM

This is awesome.
Profile Pic
Straitliner
Champion Author Illinois

Posts:4,650
Points:965,255
Joined:Sep 2012
Message Posted: Oct 1, 2013 6:04:07 AM

Lets hope so.
Profile Pic
Tekkersmom57
Champion Author Syracuse

Posts:4,916
Points:1,427,155
Joined:May 2010
Message Posted: Sep 30, 2013 2:48:18 PM

Very welcoming news! I would love to go back down into the 90s for oil.
Profile Pic
wrunner
Champion Author Virginia

Posts:7,585
Points:1,869,325
Joined:Dec 2009
Message Posted: Sep 30, 2013 1:00:18 PM

Don't hold your breath, the Iranians stink worst than a desert camel.

They are smelling good, cause they want the U.S. to think they smell good.

The odor of reduced oil prices is what drives them to bargain for the lifting of the international oil sanctions.
Profile Pic
Grismer
Champion Author Kitchener-Waterloo

Posts:11,522
Points:2,449,355
Joined:Apr 2008
Message Posted: Sep 30, 2013 9:34:31 AM

Encouraging news in many respects.
Profile Pic
mastermariner
Champion Author Texas

Posts:13,173
Points:1,203,970
Joined:Jun 2011
Message Posted: Sep 30, 2013 9:31:36 AM

If so it will not be for long
Profile Pic
skempton
Champion Author Vermont

Posts:4,026
Points:1,522,030
Joined:Apr 2010
Message Posted: Sep 30, 2013 9:31:09 AM

won't do much at the pump.
Profile Pic
c0wb0y
Champion Author Denver

Posts:2,536
Points:1,471,185
Joined:Sep 2005
Message Posted: Sep 30, 2013 9:00:31 AM

Great to hear.
Profile Pic
Bobmilan
Champion Author Louisville

Posts:4,323
Points:1,192,545
Joined:Sep 2011
Message Posted: Sep 30, 2013 8:55:37 AM

Oil hit last low below $20 when Middle East was quiet.
Profile Pic
Zeke33
Champion Author New Hampshire

Posts:7,683
Points:2,119,970
Joined:Sep 2005
Message Posted: Sep 30, 2013 8:49:52 AM

Keep dropping. Good for the pump but bad for the speculators.
Profile Pic
Buck_on_Bass
Champion Author Tennessee

Posts:10,887
Points:2,037,080
Joined:Jul 2007
Message Posted: Sep 30, 2013 8:49:27 AM

I see Iran talking but not saying anything of substance.Iran is playing a game of perception. Syria is a wait and see what is disclosed and what is turned over. I suspect that Syria's chemical weapons turnover will not go as peacefully as some expect. The budget impasse may drive oil down as the politicians spend time grandstanding and not addressing the real work of governing.
Profile Pic
ss70
Champion Author Detroit

Posts:13,395
Points:2,564,465
Joined:Sep 2005
Message Posted: Sep 30, 2013 8:42:13 AM

Time for cheaper crude
Profile Pic
pscamp
Champion Author Ottawa

Posts:7,261
Points:1,068,305
Joined:May 2011
Message Posted: Sep 30, 2013 8:40:41 AM

OK
Profile Pic
scu227
Champion Author New Haven

Posts:8,289
Points:1,504,880
Joined:Feb 2011
Message Posted: Sep 30, 2013 8:40:28 AM

That's a step in the right direction, but it still needs to be a lot lower.
Profile Pic
IronMyShirt
Champion Author Akron

Posts:2,645
Points:926,755
Joined:May 2012
Message Posted: Sep 30, 2013 8:38:38 AM

Something or some reason will happen to get it back up -- whether real or imagined.
Profile Pic
merlinCO
Champion Author Colorado

Posts:4,702
Points:1,068,110
Joined:Mar 2012
Message Posted: Sep 30, 2013 8:35:59 AM

If it was negative news it would have been up $20.
Profile Pic
streetdesign
Champion Author Illinois

Posts:3,315
Points:1,293,625
Joined:May 2011
Message Posted: Sep 30, 2013 8:23:12 AM

Good. Keep the decline coming.
Profile Pic
Pramodsharma
Champion Author Richmond

Posts:4,950
Points:1,103,235
Joined:Feb 2012
Message Posted: Sep 30, 2013 8:22:53 AM

See friendship pays, even it is with enemy
Profile Pic
WestMichigan
Champion Author Grand Rapids

Posts:4,606
Points:1,162,445
Joined:Mar 2011
Message Posted: Sep 30, 2013 8:21:45 AM

Who would have thought Iran would be the reason oil is going down instead of up!
Profile Pic
VMIJim
Champion Author Alabama

Posts:3,454
Points:835,825
Joined:Jan 2013
Message Posted: Sep 30, 2013 8:18:57 AM

I will take any savings at the pump that I can get as the Obama Administration is going to do nothing but raise my taxes for their entitlement spending.
Profile Pic
investmentdr
Champion Author Cleveland

Posts:6,420
Points:2,144,225
Joined:Sep 2008
Message Posted: Sep 30, 2013 8:16:06 AM

trend is your friend
Profile Pic
ironbox_sara
Champion Author Albany

Posts:12,633
Points:2,962,540
Joined:Mar 2006
Message Posted: Sep 30, 2013 8:14:39 AM

Big deal. Should be $25 a barrel.
Profile Pic
doeslayersr
Champion Author Illinois

Posts:12,859
Points:1,605,430
Joined:Dec 2010
Message Posted: Sep 30, 2013 8:14:19 AM

Oh oh.... I bet the Big O did not count on that.....
Profile Pic
NilesBishop
Champion Author Philadelphia

Posts:2,844
Points:694,465
Joined:Feb 2013
Message Posted: Sep 30, 2013 8:02:05 AM

No matter where oil falls the speculators will mop up all the profits before it hits the pumps.
Profile Pic
humblepie
Champion Author Toledo

Posts:62,006
Points:3,106,545
Joined:Mar 2006
Message Posted: Sep 30, 2013 7:57:58 AM

still $60 a barrel overpriced
Profile Pic
Peachy1
Champion Author St. Louis

Posts:3,085
Points:2,359,310
Joined:Aug 2005
Message Posted: Sep 30, 2013 7:55:23 AM

Very good!
Profile Pic
Evilmaddog
Champion Author British Columbia

Posts:6,375
Points:1,688,265
Joined:Aug 2010
Message Posted: Sep 30, 2013 7:55:05 AM

something will come along or be made up to keep prices inflated
Profile Pic
2khawk
Champion Author Iowa

Posts:8,458
Points:1,660,735
Joined:Oct 2010
Message Posted: Sep 30, 2013 7:47:10 AM

I hope it does.
Profile Pic
dudleydog
Champion Author New Hampshire

Posts:1,333
Points:752,965
Joined:Aug 2008
Message Posted: Sep 30, 2013 7:46:40 AM

hope that it keeps going down...
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:11,489
Points:2,433,740
Joined:Jul 2008
Message Posted: Sep 30, 2013 7:45:07 AM

Down baby go down a lot.
Profile Pic
APlus
Champion Author San Antonio

Posts:4,602
Points:1,321,595
Joined:Apr 2007
Message Posted: Sep 30, 2013 7:38:40 AM

Keep US crude lower than $100!
Profile Pic
Bou
Champion Author Maine

Posts:15,494
Points:3,378,405
Joined:Jan 2005
Message Posted: Sep 30, 2013 7:37:49 AM

Hope it goes down way under $100.
Profile Pic
EnviroChemist
Champion Author Oklahoma

Posts:3,826
Points:902,685
Joined:Oct 2011
Message Posted: Sep 30, 2013 7:30:10 AM

Oil (101.44 -1.43) and gasoline prices are both down in early trading, that may change but looks promising at the moment.
Profile Pic
BigRedVTX
Champion Author Georgia

Posts:1,651
Points:665,535
Joined:Jun 2011
Message Posted: Sep 30, 2013 7:26:46 AM

While the Iran factor could have significant impact on oil, combined with that of the threatened shutdown and the apparent resolution of the Syrian crisis, fuel should continue to lower in pricing.
Profile Pic
brbaritone
Champion Author Virginia

Posts:4,084
Points:2,400,140
Joined:Jan 2007
Message Posted: Sep 30, 2013 7:25:24 AM

The article concludes:

"The focus currently seems to be more on the supply picture especially oil returning to the markets from Libya and Sudan," said Vandana Hari, Editorial Director, Asia at Platts. "That, coupled with record-high Saudi output, the disappearance of the Syria premium, and cautious optimism over a diplomatic solution - no matter how distant - to the U.S. and Iran nuclear stand-off, lend a bearish tone to the market."

However, latest data from IG Markets shows its clients leaning marginally towards the bullish end of market expectations. It shows 53 percent of as much as 250 IG clients with open positions in U.S. crude futures expect prices to climb while the remaining 47 percent are betting on price falls.

A deepening impasse over the U.S. budget negotiations and fears of a looming government shutdown loom may add to volatility in the oil markets, traders said.

"Washington issues will dominate and I expect we will see many gyrations in all markets because of this," said Mark Waggoner, president of Excel Futures, a commodities-trading firm based in Bend, Ore. "Oil should test $97.00."
Post a reply Back to Topics