Article

2019-07-24 Economy

Oil slips to around $63 as Iran concerns fade for now

[JerusalemPost] Brent crude fell 5 cents to $63.21 a barrel by 1334 GMT on Tuesday.

U.S. West Texas Intermediate crude was up 16 cents at $56.38.

"The response of oil prices to the seizure of a British oil tanker by armed Iranian forces near the Strait of Hormuz has been amazingly muted so far," said Carsten Fritsch, analyst at Commerzbank.

Posted by trailing wife 2019-07-24 01:27|| || Front Page|| [11128 views ] Top

#1 "The response of oil prices to the seizure of a British oil tanker by armed Iranian forces near the Strait of Hormuz has been amazingly muted so far," said Carsten Fritsch, analyst at Commerzbank.

Apparently Carsten hasn't figured out yet that we're pumping so much oil that the spikes aren't going to be anywhere near as bad as they used to be. There's also all that Iranian oil the Chinese are sitting on but, for some odd reason, not using - it's starting to make an impression on the market as well.

Sorry, Carsten, but you better tell the nice people in Tehran that the old rules don't apply any more.

Mike

Posted by Mike Kozlowski 2019-07-24 04:24|| 2019-07-24 04:24|| Front Page Top

#2 Dumbass Iranians can't be depended on for anything.

Posted by Thing From Snowy Mountain 2019-07-24 09:46|| 2019-07-24 09:46|| Front Page Top

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