I am looking for crude oil prices to re-take the $130 per barrel level, as soon as next week. We need to see what Iran does over the weekend, and further parsing of the economic data points will also be required to better infer a lasting trend.   Read More

I think it's WAY too early to say "oil fever is breaking" or call a top here for oil prices. Yes, oil futures dropped sharply again today, gold has followed ,and the grains (corn, wheat, soybean futures) are also down.    Read More

As I have been saying, much of the recent sizzle in the race toward almost daily record price levels is attributable to the tensions over Iran, and the recent tangible statements and actions by Israel, Iran, and the US, in terms of military exercises.   Read More

Washington has been talking tough on oil prices on several fronts, calling for new trading regulations on speculators and reopening offshore oil drilling. But it's successful jawboning two of our major allies that seems to have had the biggest impact on prices this week.   Read More

The stock market plunged 170 points this morning and oil jumped over $3, allegedly based on a New York Times story that Israel is carrying out military exercises as a rehearsal to bombing Iran. But actually, the Times story, written by the very able war correspondent Michael R. Gordon, is talking about Israeli training exercises from early June, not now.   Read More

Tough talk today between Israel and other nations could be another reason behind oil’s surge. Get the international perspective from Tim Seymour!   Read More

According to what's billed as an "Exclusive" on the Jerusalem-based English-language website, DEBKA, the Bush Administration is "closer than ever before to ordering a limited missile air bombardment" on some Iranian Revolutionary Guard installations.   Read More