Oil Rises to Record on Concern Iran Supplies May Be Disrupted

[sabra]

Source: Bloomberg

June 30 (Bloomberg) -- Crude oil rose to a record above $143 a barrel on concern Israel may attack Iran over its nuclear program, disrupting supply from OPEC's second-largest producer.

Pressure on Iran to end uranium enrichment and the falling value of the U.S. dollar may drive prices to $170 a barrel, OPEC President Chakib Khelil said June 28. John Bolton, former U.S. envoy to the United Nations, said Israel would strike Iran after the U.S. presidential election in November.

``We are going beyond rhetoric at this point,'' said William Adams, managing director of JKV Global in Chicago. ``Israel's intentions are pretty clear. That's going to keep prices pretty high.''

Crude oil for August delivery rose $2.19, or 1.6 percent, to $142.40 a barrel at 9:17 a.m. on the New York Mercantile Exchange after rising to a record $143.67. The price has doubled in the past year.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aDr...

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[Spouting Horn]

1. Gee

don't you just love it when a plan comes together?

[wordpix]

2. "John Bolton, former U.S. envoy to the UN, said Israel would strike Iran after the U.S. election"

Oh yeah, John, and how will that go down when Barack wins? Some secret treaty you've got with Israel, BushCo? And who's financing this nuclear holocaust?

It is NOT TOO LATE to IMPEACH THESE WAR CRIMINALS so this holocaust won't happen.

[jimshoes]

3. To you fuckheads in Washington,

In case you haven't noticed, the citizens of this country are mostly about one or two paychecks away from going bust. How are you planning to deal with several million people who will not be able to heat their homes this winter or be able to buy food for their families. When truckers find they can no longer profitably move that truck full of frozen chickens to the Rini Rego 200 miles away, the frozen chicken is going to become coyote and buzzard food in short order. When cities decide they can no longer provide drinking water to whole communities, when the power company can't get its coal shipment, out go the lights. Perhaps this has already been planned for and you're just not telling anyone, I don't know. What I'd like to find out is, if the fucking sky actually is falling, should I go out and buy that pistol and stock up on dry goods and bottled water, or be content to hear about brittany spears latest brush with idiocy.

[Indenturedebtor]

8. While you fight to survive they'll be eating Filet Minion

Wild Boar, and perfectly aged Venison.

They don't give a damn about you.

Here it comes! The collapse of modern society is on the way.

[Kablooie]

10. Just history repeating itself. It will be another generation or so before the revolution hits.

[dkf]

4. Is this what people are calling speculation?

I call it rather legitimate myself.

[eilen]

5. Oil goes up if someone farts too loud in the ME

Nevermind we receive most of our oil outside of ME sources. There are a hundred different reasons for the prices to go up apparently but never a good enough one to cause a decent drop.

This government and our energy companies and our local communities have our heads in the sand.

[madrchsod]

6. the Israel news services and the murdoch times

inflate the issue with miss leading headlines and the speculators have an orgasm....interesting to watch how they run up the price of oil.

[ladjf]

7. Just a few bellicose remarks from Israel of the U.S. and the oil

interests make an additional several billion. What a racket!

[tama]

9. Cheney

Cheney new about arriving Peak Oil in 2000, as Matt Simmons told him.

Instead of doing anything remotely sane like getting rid of oil addiction, junkie US decided to invade Iraq in a resource war.

Now, to protect their "investment" in Iraqi holdings, they believe that Iran needs to be put in place, hence current rumours about next war.

But in reality, the underlying cause is and has been PO, all the time.

[stillcool]

11. jeepers...a couple of dudes..

wave their dicks around and the price of oil goes through the roof. I sure hope Iraq puts out for the oil companies soon. How many bombs does it take?