NEW YORK, July 25- Brent crude oil prices shot more than $1 higher at mid-morning on Friday while U.S. oil erased early losses, with traders linking the gains to talk that further Western sanctions on Russia could hit oil exports.» Read More
Discussing whether a shutdown of the Strait of Hormuz will send brent crude to $200, with Michael Wittener, SocGen, and the direction of oil, with the Fast Money traders.
If Iran were to shut down the Strait of Hormuz, Brent crude would surge to between $150 and $200 a barrel, according to an oil analyst with Societe Generale.
Iranian President Mahmoud Ahmadinejad’s five-day tour of Latin American countries comes at a time of rising tensions with the United States and growing international isolation. The US State Department described Iran’s search for friends as “desperate,” while US Treasury Secretary Timothy Geithner is expected to ratchet up the pressure in a visit to China and Japan.
Michael Langford, Proprietary Trader at StreamTrading.com in Sydney discusses where commodity markets are headed in 2012.
Oil prices could spiral out of control and potentially herald deeper economic hardship for Europe if the European Union joins the US in banning Iranian oil imports, analysts warned on Friday.
Threats from Iran to disrupt oil shipments through the Strait of Hormuz continue, and light sweet crude is bumping up against its 10-month high, John Kilduff, Again Capital, and Edward Morse, Citi, discuss.
CNBC's Sharon Epperson takes a look at the oil inventory data this week, with Addison Armstrong, Tradition Energy.
Any European embargo of oil imports from Iran would have a direct effect not just on Iran, but also on the most prominent consumers of Iranian oil and refiners in the Mediterranean, according to a series of recent reports.
The anxious exchange of statements and explicit threats between the U.S. and Iran mark a notable escalation and leave the energy markets struggling to understand the implications.
Oil is as low as it is going to go, says Joe Petrowski, Gulf Oil CEO, who shares his forecast on whether there will be a major fluctuation in the price of oil due to the decisions in the Middle East.
CNBC's Mary Thompson reports on natgas prices, saying, "the market is very well supplied, we've had mild weather and we've seen moderate growth in the economy and that puts a lid on industrial demand for the fuel."
Making market predictions for the new year, with CNBC's Mary Thompson, Bob Pisani, Rick Santelli and Seem Mody.
CNBC's Brian Shactman discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
If Iran shuts the Strait of Hormuz "that would be cataclysmic for the oil price and the economy, particularly if they figure out a way to shut it down for an extended period," says former Shell executive John Hofmeister.
Breaking down the current state of the gold market as it precious metal declines for the sixth straight session today, with Rich Ilczyszyn, iiTrader founder and chief market strategist.
CNBC's Brian Shactman reports bigger-than-expected data from the EIA Inventory at a build at 3.9 million barrels.
Several high ranking Iranians said they could shut off oil transports through the Strait of Hormuz. Discussing the impact this close could have on oil prices, with Trevor Houser, Rhodium Group.