Crude oil prices rose Thursday on speculation about China’s stimulus plans and Spain’s new budget, but Iran remains an unknown factor, IHS Vice Chairman Daniel Yergin told CNBC.
“The fear premium’s probably around $10, $15 a barrel,” he said on “Fast Money.”
Yergin said that China wouldn’t likely put stimulus plans into place until new leadership is in place.
Also, Iran remained a wild card, especially if it again threatens to close the Strait of Hormuz, a major oil shipping route in the Persian Gulf.
“To make those threats is to make a threat to the world economy,” he said.
“In terms of what happens to the price of oil, that’s the big question, of course. The price would go up if anything happened,” he added. “It’s kind of anyone’s guess as to how things are going to unfold.”
Trader disclosure: On Sept. 27, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Fast Money” were owned by the “Fast Money” traders: Dan Nathan is long AAPL; Dan Nathan is long GS; Dan Nathan is long WFC; Dan Nathan is long YHOO; Dan Nathan is long FB; Dan Nathan is long MSFT; Dan Nathan is long AAPL Oct. 700/705 call spreads; Dan Nathan is long WFC Jan. 33/38 risk reversal; Dan Nathan is long YHOO Jan. 17.5 calls; Dan Nathan is long FB Nov./Jan. call spreads; Dan Nathan is long MSFT Oct. 30/28 put spreads; Karen Finerman is short AAPL calls; Karen Finerman is long BAC; Karen Finerman is long BAC call spreads; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long WTSLA; Karen Finerman is long ARO; Karen Finerman is long SPY; Karen Finerman is long TWM; Karen Finerman is long MDY puts; Karen Finerman is long SPY puts; Josh Brown is long AAPL; Josh Brown is long WFC; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long GOOG; Mike Murphy is out APLE; Mike Murphy is long WFC; Mike Murphy is long TGT; Mike Murphy is long LEN; Mike Murphy is short GPS.
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