2009 Oil Spike, Israel Fights, Ukraine Blackout!

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I am almost shaking in my pants just now as the oil prices shot towards the sky for awhile from the lowest $36.94 per barrel to highest $45.54 per barrel in a short span of time.

The spike of oil prices maybe contributed by two news, one of them is Israel Rejects Temporary Cease-Fire in Gaza Fighting and the second one is Russia Will Halt Gas to Ukraine as Talks Fail to Solve Dispute.

So the oil price shot up a total of $8.60 in a night based on political instability and probably some back log of OPEC supply cut taking effects.

There might be more news coming out soon on this oil price spike with other possible reasons.

According to Bloomberg:

Oil may rebound next year to average $60 a barrel as the Organization of Petroleum Exporting Countries makes record production cuts to counter the deepest economic slump since World War II, according to the median of estimates by 33 analysts surveyed by Bloomberg.

That would be a 45 percent gain from today’s price.

- These news analyst should be taken with a grain of salt where they don’t know what is the “FUTURE” price may be as there won’t be a floor or ceiling in oil trading.

You may be seeing oil drop below critical levels for oil industry to start their own wars to slice and dice supplies to boost oil prices artificially…or see oil prices shoot towards HEAVEN without limits!

Most news are pure speculation and never with certainty of their “maybe” scenario and probably will be 90% wrong.

For me…I think the future is VERY fucking volatile…with many spikes and corrections….stay well away if you can…otherwise…stay AWAKE while you trade.

Sometimes health maybe more important than greed….that may burn you alive.

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  • Anonymous

    I'm with what Simon Tay on this…

    Don't forget that Hamas is NoW attacking Israel with longer range Rockets made and supplied by Iran, which is already a potential target of a Preemptive Air-Strike due to "peaceful" uranium enrichment Nuke Program.

    Iran, the primary State Sponsor of Terror in the MidEast has threatened to use THE OIL WEAPON if attacked…

    Would Iran cut off their own primary Income Source by turning off their spigots, or is this a veiled reference about shutting down the entire Persian Gulf by mining the Straight of Hormuz or to torpedo a Supertanker there??

    I believe that Iran is much more likely to $end $ome of their many Terrorist Allies to destroy a SAUDI OIL TANKER TERMINAL instead. That way, the price of $pOIL goes over $200/Barrel OVERNIGHT, and their State allies, Russia and Venezuela are very happy indeed with expensive spOIL.

    Iran, Russia & Venezuela can then divert their spOIL away from the West (to China?), & have the ultimate Economic Warfare NUKE on the Western World & the "GLOBAL ECONOMIC RECOVERY", without firing a bullet or missile.

    If spOIL prices Surge over $200/Barrel, the U$D will go up in flames, as nobody will want to buy the escalating Trillion$ in Debt Notes or US Treasuries that will apparently never be able to be repaid, and even if they were repaid at some point in the distant future… with what?? More Paper and Ink that is losing value Zimbabwe style with Hyper-Inflation?? Banana Republic Fiat?

    CRUDE REALITY: $pOIL affects the prices of Everything… OIL Demand Destruction or US Dollar Destruction?? Deflation or Hyper-INFLATION??

    For Israel…
    "TO BE, or NOT TO BE. THAT IS THE QUESTION." – A. Einstein

    I believe Isreal chooses "TO BE."

    One thing for sure… Volatility is Here to $tay. Fasten your seatbelts (and wallets)… The Forecast is for ONE WILD RIDE!!!

    Prepare NOW, & Happy New Year!!!

    $pOIL WEAPON??