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Oil Prices Touch 9-Month Highs

The Wall Street Journal -- LONDON—Crude-oil futures climbed Monday on Iranian supply worries as Tehran threatened to halt oil exports to other European Union countries a day after it cut sales to U.K. and French companies.

Early afternoon in London, the front-month April Brent contract on the ICE futures exchange was up 65 cents, or 0.5%, at $120.23 a barrel. The U.S. crude front-month March contract was trading up $1.88, or 1.8%, at $105.48 a barrel in electronic trade.

The price of oil has reached an eight month high as tensions over Iran continue to escalate. Dow Jones' Sarah Kent explains what may be pushing prices up. Photo: Getty
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Prices were down slightly from an earlier spike on Iran supply worries that took oil up to nine-month highs of $105.80 a barrel and $121.15 a barrel for U.S. crude futures and

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Submitted Feb 21, 2012 By: DNRSVP

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lazydoggs3 Veteran Author Fresno Posts:258 Points:30,535 Joined:Aug 2008	Message Posted: Feb 21, 2012 8:20:09 AM Ignore lazydoggs3 Report Abuse Ouch
firemunkee Veteran Author Maryland Posts:408 Points:56,450 Joined:Jan 2012	Message Posted: Feb 21, 2012 8:00:32 AM Ignore firemunkee Report Abuse blah blah blah
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 7:40:11 AM Ignore SkyWarnTX Report Abuse --- The "ENRON LOOP HOLE" allows WALL STREET SPECULATORS to legally trade in the OIL FUTURES MARKET... CLICK HERE to WATCH the VIDEO explaining the ENRON LOOP HOLE ?? Think SPECULATORS are causing the RISE in OIL Prices ?? ---
yardslave Champion Author Oklahoma City Posts:2,555 Points:596,805 Joined:Dec 2005	Message Posted: Feb 21, 2012 6:59:28 AM Ignore yardslave Report Abuse At least it can start coming down now...
amerk73 Champion Author Dallas Posts:7,050 Points:1,621,080 Joined:Oct 2008	Message Posted: Feb 21, 2012 6:58:40 AM Ignore amerk73 Report Abuse WTI Crude Oil now at $104.91
amerk73 Champion Author Dallas Posts:7,050 Points:1,621,080 Joined:Oct 2008	Message Posted: Feb 21, 2012 6:58:15 AM Ignore amerk73 Report Abuse Brent Crude Oil now at $119.22
gs7101 Champion Author San Antonio Posts:5,523 Points:388,670 Joined:Jun 2009	Message Posted: Feb 21, 2012 6:52:01 AM Ignore gs7101 Report Abuse It's the same depressing morning headline news -- higher oil/gas prices!
jakessoccermom Sophomore Author Wisconsin Posts:199 Points:618,670 Joined:May 2010	Message Posted: Feb 21, 2012 6:45:53 AM Ignore jakessoccermom Report Abuse What do people expect out of a Middle Eastern country that we have had trouble with for decades. They want to s$&*w as much money as they possible can out of the West and don't give a damn about other countries economies or peoples. The price of gas is forcing people to make decisions on whether or not to eat that week or be able to put gas in their vehicle to get to and from work.
amoshins Champion Author Trenton Posts:2,195 Points:641,645 Joined:Apr 2011	Message Posted: Feb 21, 2012 6:38:49 AM Ignore amoshins Report Abuse Hi Ho, Hi Ho, Higher Oil Prices on the Go
cmptrmush Champion Author Detroit Posts:3,615 Points:738,745 Joined:Feb 2011	Message Posted: Feb 21, 2012 6:34:20 AM Ignore cmptrmush Report Abuse I think oil prices are too high to begin with. But with this Iran issue going on, oil prices are going through a bubble up, until England and France finalize a new source of oil for themselves. Then prices will come back down to "normal".
07skydriver Champion Author Ohio Posts:3,261 Points:983,105 Joined:Feb 2009	Message Posted: Feb 21, 2012 6:17:53 AM Ignore 07skydriver Report Abuse Just stay home.
bullet226 Champion Author Toronto Posts:2,716 Points:534,915 Joined:Nov 2010	Message Posted: Feb 21, 2012 6:14:25 AM Ignore bullet226 Report Abuse Same old...
brbaritone Champion Author Virginia Posts:2,065 Points:1,697,875 Joined:Jan 2007	Message Posted: Feb 21, 2012 6:06:46 AM Ignore brbaritone Report Abuse Looks like Iran has the oil market on a leash. Either that, or the oil market is using 'tensions' as an excuse to increase prices.
335d1 Champion Author Virginia Posts:2,381 Points:759,045 Joined:Feb 2011	Message Posted: Feb 21, 2012 5:27:32 AM Ignore 335d1 Report Abuse Yup, and going higher as we get closer to Summer.
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 5:25:27 AM Ignore SkyWarnTX Report Abuse --- The "ENRON LOOP HOLE" allows WALL STREET SPECULATORS to legally trade in the OIL FUTURES MARKET... CLICK HERE to WATCH the VIDEO explaining the ENRON LOOP HOLE ---
Rockyguitar Champion Author Tampa Posts:2,562 Points:1,202,570 Joined:Sep 2008	Message Posted: Feb 21, 2012 5:16:53 AM Ignore Rockyguitar Report Abuse Prices up! Whoda thunkit?
fjkcpa Champion Author Houston Posts:4,511 Points:602,210 Joined:Nov 2005	Message Posted: Feb 21, 2012 5:16:21 AM Ignore fjkcpa Report Abuse Not good...
ReddevilNO Champion Author New Orleans Posts:3,371 Points:581,190 Joined:Aug 2011	Message Posted: Feb 21, 2012 4:54:50 AM Ignore ReddevilNO Report Abuse And we all know it, don't we?
mike1881 Champion Author Fayetteville Posts:1,296 Points:564,495 Joined:Feb 2011	Message Posted: Feb 21, 2012 4:54:39 AM Ignore mike1881 Report Abuse I would say something about Obama, but my mom said if you don't have anything nice to say, don't say anything at all.
epf Champion Author Grand Rapids Posts:6,334 Points:1,891,355 Joined:May 2004	Message Posted: Feb 21, 2012 4:36:31 AM Ignore epf Report Abuse Where are the warplanes reported in the NY Times on Monday?
SavingInNC Champion Author North Carolina Posts:5,788 Points:1,093,465 Joined:Oct 2006	Message Posted: Feb 21, 2012 4:27:17 AM Ignore SavingInNC Report Abuse For sure
kenji554 Champion Author Charlotte Posts:1,217 Points:513,045 Joined:Jun 2011	Message Posted: Feb 21, 2012 4:25:14 AM Ignore kenji554 Report Abuse Ouch
Yooperheart Champion Author Michigan Posts:3,416 Points:527,025 Joined:Feb 2010	Message Posted: Feb 21, 2012 3:39:27 AM Ignore Yooperheart Report Abuse Thanks djgunrunner for that post.
daequitz Champion Author New Jersey Posts:6,322 Points:1,384,580 Joined:Jan 2007	Message Posted: Feb 21, 2012 3:34:59 AM Ignore daequitz Report Abuse No good reason.
djgunrunner Champion Author Salt Lake City Posts:10,099 Points:2,348,605 Joined:Apr 2005	Message Posted: Feb 21, 2012 3:30:58 AM Ignore djgunrunner Report Abuse Get Natural Gas on line for more automobiles and use it to replace home heating oil, get obama to support it. Step down on big oil for exporting the fuels and causing a shortage so that they can raise the prices and gouge us even more. Pass laws to control the speculators. Get rid of Ethanol as it has less efficiency than regular gas and therefore we use more of it.
OHMS Champion Author Orange County Posts:13,722 Points:1,692,855 Joined:May 2005	Message Posted: Feb 21, 2012 2:21:48 AM Ignore OHMS Report Abuse Early afternoon in London, the front-month April Brent contract on the ICE futures exchange was up 65 cents, or 0.5%, at $120.23 a barrel. The U.S. crude front-month March contract was trading up $1.88, or 1.8%, at $105.48 a barrel
Amplion Champion Author Oregon Posts:6,772 Points:1,865,285 Joined:Sep 2005	Message Posted: Feb 21, 2012 2:10:25 AM Ignore Amplion Report Abuse This is the HOPE & CHANGE that the MAJORITY VOTED for !!!!!
RNCII Champion Author Michigan Posts:2,482 Points:643,855 Joined:Jun 2011	Message Posted: Feb 21, 2012 1:55:53 AM Ignore RNCII Report Abuse Oil prices would drop at least $10 to $20 a barrel in just a few days if we announced we were going to build the Keystone XL pipeline. Obama had screwed us again and again over energy policy actions. And now we will get a taste of the future of energy costs under the Obama administration. NoBama 2012