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Are Speculators Just Pricing In War With Iran?
Matthew Philips, Bus. Week
The last time the price of Brent crude closed below $100 a barrel was Oct. 6, 2011. It's since gone up nearly 30 percent, to a high of $126.20 on March 1. Tensions over Iran';s nuclear program have people spooked that a potential attack would disrupt the country;s 2.2 million barrels of daily oil exports. And so money has been pouring into oil futures contracts, driving up the price without any significant change in the underlying supply-and-demand fundamentals. Only the threat of one. . .
The last time the price of Brent crude closed below $100 a barrel was Oct. 6, 2011. It's since gone up nearly 30 percent, to a high of $126.20 on March 1. Tensions over Iran';s nuclear program have people spooked that a potential attack would disrupt the country;s 2.2 million barrels of daily oil exports. And so money has been pouring into oil futures contracts, driving up the price without any significant change in the underlying supply-and-demand fundamentals. Only the threat of one. . .
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