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Commodities Briefing - Categorized | Oil, Price Watch more

Will the Iraqi Siege Cause Oil and Gasoline Prices to Spike?

Posted on 20 June 2014

Should we be worried about a major spike in oil prices—and summer gas prices—because of the sectarian conflict in Iraq? It’s an important question in the markets right now, because every $10 increase in the price of oil shaves 0.5 percent of global growth. I’m cautiously optimistic for the moment that the answer will be: no.
Oil, as I’ve written before, is amongst the most fear driven commodities. Supply and demand are supposed to rule markets, but every time there’s a major conflict in the oil rich Middle East—from the Iranian revolution to the Gulf War—prices go up about 30 percent higher than they should be, regardless of the facts on the ground………………………………………..Full Article: Source


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VRS - who has written 39513 posts on Opalesque Commodities Briefing.


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