Oil Rises To Near $94 On Israel-Iran Concerns

[Purveyor]

By Pablo Gorondi on August 13, 2012

Oil prices rose to near $94 a barrel Monday as increased concerns about the possible escalation of the conflict between Israel and Iran helped crude claw back last week's losses triggered by the International Energy Agency's lower crude demand forecast.
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Brent's climb to three-month highs was seen spurred by declining crude output in the North Sea — blamed mostly on maintenance shutdowns — and mounting fears of an armed confrontation in the Middle East.

On Sunday, Israeli Prime Minister Benjamin Netanyahu reiterated warnings about the threat from Iran's nuclear program, which Tehran says is only for peaceful aims like generating electricity.

"All threats directed at the Israeli home front are dwarfed by another threat, different in its magnitude and substance, and so I have repeated and shall repeat: Iran must not be allowed to obtain nuclear weapons," Netanyahu told his Cabinet on Sunday. Last week defense officials confirmed that Israel's top-tier missile defense system has been upgraded.

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http://www.businessweek.com/ap/2012-08-13/oil-above-93-ahead-of-us-retail-sales-figures

[zzaapp]

1. I wish that I could take both of those countries..

put them over my knee and give them both a good spanking.

[WCGreen]

2. The groundhog saw his shadow, oil costs went up by three dollars a barrel..

[madinmaryland]

3. Funny, but when he doesn't see his shadow, oil prices still go up $3/barrel.

Fucking Whistlepigs!!

[Initech]

4. Someone sneezed in Afghanistan - oil goes up another $3/barrel.

[Warpy]

5. You mean because investment banks are starting to try to

draw more suckers into an upswing so they can bleed more money off middle class investors with more money than sense.

The sudden flood of money into oil futures happened more than a week ago and before Israel vs. Iran was on the radar.

ETA: The big money spike happened in mid July. Another one was about 10 days ago. The article in the OP is to fool people who aren't paying attention.