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'Strong Possibility' Gas Will Rise to $4

 
HeidiLore
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User ID: 201146
Canada
04/05/2007 09:50 AM
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'Strong Possibility' Gas Will Rise to $4
April 4, 2007 — For the past two weeks, Iran has not just been holding 15 British soldiers captive; it's been holding the world's oil markets hostage, too.

"There's been a $5 or $6 premium that's been built into the price of oil over this," said Phil Flynn, vice president and energy analyst at Alaron Trading. "Even though this crisis has ended, the oil market is still on guard that the tensions in the Middle East are going to continue."

Oil prices spiked this morning when Iranian President Mahmoud Ahmadinejad appeared on television, because of uncertainty over what he was going to announce. When he started awarding medals to the troops who had captured the Britons, traders assumed the worst.

But by the end of Ahmadinejad's television appearance it was apparent that the soldiers were heading home, and the price of a barrel of oil started to retreat from recent highs, giving up more than $1 to drop to about $64.

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Anonymous Coward
User ID: 73466
United States
04/05/2007 09:53 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
I thought gas prices were rising because the oil companies were in the process of switching over to summer gas formula.

WTF?!
Anonymous Coward
User ID: 9482
United States
04/05/2007 09:53 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
Should help my Valero stock very much...
Shadow

User ID: 218478
Canada
04/05/2007 09:59 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
I read the spike was because of refineries cutting production to up the price. If Iran offers them a convenient scape goat to blame higher prices on, why not capitalize on it? Sounds cynical, but I have less reason to trust big-oil's motives than Iran's.
Over the side and damn the barracuda
Anonymous Coward
User ID: 218139
United States
04/05/2007 10:02 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
Let me tell you, in Southern calif., mid grade fuel is 3.379/gallon for medium grade-already!!!
Anonymous Coward
User ID: 218897
United States
04/05/2007 10:17 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
the greater possibility is it will never be 2.00/gal.

again!
chacao

User ID: 217164
Canada
04/05/2007 10:24 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
RIGHT NOW IT COSTS ONE BARREL OF CRUDE FOR EVERY TWO WE EXTRACT..... THE END OF CHEAP OIL IS HERE ALREADY....AND THERE IS NOT ALTERNATIVE ENERGY IN THE HORIZON ..... PREPARING FOR A HARSH FUTURE IS PRUDENT .... WAR WITH IRAN WILL ONLY AGRAVATE AN ALREADY TERRIBLE SITUATION ..... A LOT OF THINGS WE TAKE FOR GRANTED TODAY LIKE EATING A PEACH IN WINTER WILL DISSAPEAR ALONG WITH BIG STORE BOXES LIKE WALT MART .... LEARN HOW TO GARDEN ... GET A BICICLE LEARN A LOW TECH TRADE .... GET AND LEARN HOW TO USE AND REPAIR HAND TOOLS .... SPEND A WEEK END AT AN AMISH COMMUNITY OBSERVE HOW THEY LIVE .... MAY SAVE YOUR LIFE .... THEY SHONE ELECTRICITY AND GAS POWERED TRANSPORTATION HO THE TIMES ARE CHANGING ....
chacao

User ID: 217164
Canada
04/05/2007 10:27 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
THRE IS A GHOST IN THE PAGE I CORRECTED HO FOR HOW AND IT STILL CAME "HO"
Anonymous Coward
User ID: 160232
United States
04/05/2007 10:46 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
bump
Nrg

User ID: 2534
United States
04/05/2007 10:58 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
Just wait until the profiteers decide to do their summer spike. $4.00? Why stop there? $5.00 does not seem out of the realm of possibility.

Let's put the GLP effect to test. I say we Will the price down to $.98 like the "old days".
Anonymous Coward
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Australia
04/05/2007 10:58 AM
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Re: 'Strong Possibility' Gas Will Rise to $4
$4 for gasoline will be in line with what the rest of the western world pays anyway.

America's love affair with cheap gas is over. Make the most of it while you can.





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