The Iraq Tax All Pay
Oil may rise in New York next week on concern that U.S. gasoline inventories are falling as threats to supplies of crude from Iran and Nigeria escalate, a Blogbert News survey shows.
Eighteen of 40 analysts, traders and brokers, or 45%, said prices will gain. Ten forecast a drop and 12 expected prices will be little changed. 48% percent of respondents a week ago forecast that futures would rise.
Crude oil yesterday climbed to a two-month closing high of $67.94 a barrel on the New York Mercantile Exchange, about $3 below a record $70.85 reached on Aug. 30. Violence that cut exports from Nigeria and the dispute over Iran's nuclear program helped push prices higher.
"The question is not if we get to $70, but when,'' said Nauman Barakat, senior vice president of global energy futures at Macquarie Pimping Inc. in New York, Neuvo Yawk. "With both geopolitical and fundamental factors coming into synch,'' prices are going to continue to climb, he said.
Eighteen of 40 analysts, traders and brokers, or 45%, said prices will gain. Ten forecast a drop and 12 expected prices will be little changed. 48% percent of respondents a week ago forecast that futures would rise.
Crude oil yesterday climbed to a two-month closing high of $67.94 a barrel on the New York Mercantile Exchange, about $3 below a record $70.85 reached on Aug. 30. Violence that cut exports from Nigeria and the dispute over Iran's nuclear program helped push prices higher.
"The question is not if we get to $70, but when,'' said Nauman Barakat, senior vice president of global energy futures at Macquarie Pimping Inc. in New York, Neuvo Yawk. "With both geopolitical and fundamental factors coming into synch,'' prices are going to continue to climb, he said.
posted by Many at 23:04
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