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Oil May Extend Gains as Supply Threats Build: Survey

CNBC -- Benchmark crude oil prices will likely rise this week as global supply threats build and markets price in a positive outcome to Greek debt talks, CNBC's weekly survey showed.

Seven of this week's sample group of eight respondents expect oil prices to climb, while one forecasts prices to remain unchanged.

Compass Global Markets' Peter Turville-Ince has a bullish call on oil this week and expects $120 "very soon in the WTI space" though momentum in Brent crude should "start to slow and should be limited towards $125/$127 for now."

Asian stocks markets rose on Monday reflecting optimism that Greece will seal a deal on a second bailout at a meeting with Euro zone officials later today.

Senior officials from euro zone finance ministries and the European Central Bank held a conference call o


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Submitted Feb 20, 2012 By: jem069
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Author Topic: Oil May Extend Gains as Supply Threats Build: Survey Back to Topics
REPLIES (newest first) Post a Reply
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jorobins538
Champion Author Chicago

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Message Posted: Feb 20, 2012 7:12:52 PM

greedy greedy piggies
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spiderjay
Champion Author Little Rock

Posts:4,800
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Message Posted: Feb 20, 2012 7:12:08 PM

we got a ton of oil
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spedygonzales
All-Star Author Toronto

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Message Posted: Feb 20, 2012 7:07:35 PM

we gonna pay the price
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TheSnowstorm
Champion Author Montreal

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Message Posted: Feb 20, 2012 7:06:01 PM

Hang on to your hats......
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gasaholicMO
Champion Author Missouri

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Message Posted: Feb 20, 2012 7:04:53 PM

Speculators are starting early this year.
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gasokie
Champion Author Oklahoma

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Message Posted: Feb 20, 2012 7:03:19 PM

We're in for a long unpleasant summer if people think these high prices are a result of Obama or Bush's evil. Less supply with a hint of war not of our doing is causing oil to rise. It makes it very hard to solve a problem if we don't bother to understand it.
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jimbo1867
Champion Author Arizona

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Message Posted: Feb 20, 2012 7:02:13 PM

oh joy
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reidlej
Champion Author Columbus

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Message Posted: Feb 20, 2012 7:01:51 PM

Bad news for consumers again.
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vtroger
Veteran Author Vermont

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Message Posted: Feb 20, 2012 7:01:12 PM

Boy it's a good thing I was sitting down when I read about another reason why gas prices will increase...
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windows7isfast
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Message Posted: Feb 20, 2012 6:59:43 PM

crazzy
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Feb 20, 2012 6:58:20 PM

lots of noise
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Z06KY
Champion Author Louisville

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Message Posted: Feb 20, 2012 6:58:17 PM

Bull!
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race2IT
Champion Author Fort Worth

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Message Posted: Feb 20, 2012 6:58:01 PM

One day every consumer who uses gas in their cars will stop gas buying to support these Czars of the oil companies. I would love to see them face that threat.
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mediccoy
Champion Author North Carolina

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Message Posted: Feb 20, 2012 6:56:24 PM

Same old story, anything to get more $$$$.
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Caduceus26
Champion Author Jacksonville

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Message Posted: Feb 20, 2012 6:53:54 PM

International threats to oil supply, speculators in the market, and closed refineries are the causes behind the spiraling oil (and gasoline) prices. A better understanding of the cause/effect of energy prices might lead to less finger pointing and misplaced blame. I doubt it, but it would be refreshing if it came to pass.
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bababooey2
Champion Author Hartford

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Message Posted: Feb 20, 2012 6:52:49 PM

We are at 3.90 here in CT.
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wilbur_gas
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Message Posted: Feb 20, 2012 6:50:28 PM

OK
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2granny
Champion Author Michigan

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Message Posted: Feb 20, 2012 6:50:21 PM

Our gas went up to $3.53 a gallon for regular.
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chyguy3
Champion Author Wyoming

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Message Posted: Feb 20, 2012 6:49:32 PM

Just excuses, but somehow they work.
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Enstein
Champion Author Lansing

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Message Posted: Feb 20, 2012 6:40:36 PM

Get over it and accept the reality. Bush and his nazi loving
buddies screwed us. It was Bush, Cheney and all their comrades
that pulled the oil and gas scam, open and shut. The democrats
are pulling other scams, but Bush and his pals screwed America
on oil and gas. It will never come down again.
CONSERVATIVES AND LIBERALS SUCK.
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WalkingWV
Champion Author West Virginia

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Message Posted: Feb 20, 2012 6:37:44 PM

Gas jumped 14 cents here today.
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feistyfella
All-Star Author Detroit

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Message Posted: Feb 20, 2012 6:36:41 PM

Car pool.
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hoosierdaddyno1
Champion Author Indiana

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Message Posted: Feb 20, 2012 6:35:06 PM

Sammy Adams, Ron Paul and Glenn Beck WAY TO FAR left!!!!
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BigBob12345
Champion Author Gasbuddy

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Message Posted: Feb 20, 2012 6:34:43 PM

I believe I will go with the one.
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greenfog
Champion Author Illinois

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Message Posted: Feb 20, 2012 6:33:50 PM

gas just shot up to 3.49 for regular here.
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hoosierdaddyno1
Champion Author Indiana

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Message Posted: Feb 20, 2012 6:32:52 PM

Supply threats ??

Who is jacking who ?

Quit exporting and keep it AT home and their will be NO supply threat, or it even happening !!

I SMELL BIG SPECULATION AND BIG OIL WANTING BIG PROFITS!
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SammyAdams
Champion Author Tallahassee

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Message Posted: Feb 20, 2012 6:30:29 PM

Prices are not going up because 7 out of 8 people surveyed believe that prices are going up. I am surprised that prices have remained as LOW as they have for as LONG as they have. One of the biggest factors that determines consumer prices is the Federal Reserve. In fact, it would be more appropriate to say that the dollar is LOSING its value than to say that prices are going up. When the $1.5 Trillion now sitting in U.S. banks from "Quantitative Easing" (QE2), you will likely see prices go up like a Saturn rocket. Hyper inflation is soon upon US.

And because nobody seems to want to listen to the advice (much less take it) of Congressman Ron Paul, we can now go through an economic period that will make this recession appear like a Sunday school picnic. So brace yourselves and if you are listening, prepare yourselves.

You might consider investing in gold (expensive, I know) and silver. A more modest hedge against the coming hyper inflation would be ammunition for your guns. Most folks forget to restock, but think about it: a gun without ammunition is merely a paper weight. You will need the ammo that you don't use for trading for "beans" for protecting your goods from those who didn't see this period coming and/or didn't consequently prepare for it

Bush did his part and BO is certainly doing his bidding. So if you cannot seem to get motivated enough to defeat the Establishment candidates (Obama, Gingrich, Santorum, and Romney), at least prepare for what the next 4 years will be living under their rule.
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crashintuc34
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Message Posted: Feb 20, 2012 6:29:50 PM

Screw the rest of the world we need to take care of our.
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paulydel
Champion Author Delaware

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Message Posted: Feb 20, 2012 6:26:39 PM

We don't eed more bailouts just common sense by our representatives.
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armey
Champion Author Oregon

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Message Posted: Feb 20, 2012 6:25:32 PM

Yeah our gas went up here too! :( $3.47
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bcok
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Message Posted: Feb 20, 2012 6:25:26 PM

More bailouts at what ever the cost-bring the price down.
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gknee09
Champion Author Philadelphia

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Message Posted: Feb 20, 2012 6:24:22 PM

for fear of, threats build . . . enough speculation!
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Beaveronparade
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Message Posted: Feb 20, 2012 6:17:56 PM

Gas prices just continue to rise here.
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marinedad1949
Champion Author Lancaster

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Message Posted: Feb 20, 2012 6:13:37 PM

Just another thought about lack of vision: A senior advisor to the Democrats on the Senate Energy Committee was quoted as saying, "there won't be a thimble of oil for 7-10 years" referring to why the Democrats opposed drilling in the ANWR. That was EIGHT years ago. Which means if we had started drilling, and building the infrastructure to support oil delivery, ie, pipelines, (and refineries), we would now be reaping the benefits of that drilling! We desperately need to find and elect a leader who will do the right things for the right reasons without thought of being re-elected and for the good of America!
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ItisAJeepThing
Champion Author Tucson

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Message Posted: Feb 20, 2012 6:12:01 PM



Build the Keystone XL pipeline. it will provide a few thousand jobs during the two years that it will take to build it. It will provide a few hundred jobs as inspectors and pumping plant operators when it is running. Some of the oil will be refined in Texas, but most will be shipped to China as crude oil. A few more refinery jobs, a few tanker loader jobs and some sailors.

Besides, we can buy the oil to be refined from our friends in Canada instead of our enemies in Iran, Venezuela and a few other OPEC countries.

MAKE NORTH AMERICA ENERGY SELF SUFFICIENT!!! Canada, the U.S. and Mexico!!!
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Goofoff
Champion Author Virginia

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Message Posted: Feb 20, 2012 6:11:05 PM

Read
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Goofoff
Champion Author Virginia

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Message Posted: Feb 20, 2012 6:10:37 PM

Read
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ljmh
Champion Author Akron

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Message Posted: Feb 20, 2012 6:09:40 PM

Setting us up for increases at the pump.
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thirty8paces
Champion Author Baltimore

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Message Posted: Feb 20, 2012 6:06:50 PM

More nonsense.
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Crumbfel
Champion Author Virginia

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Message Posted: Feb 20, 2012 6:06:05 PM

Read
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REKEY
Champion Author South Carolina

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Message Posted: Feb 20, 2012 6:02:54 PM

Iran & Greece!
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dale243
Champion Author Dallas

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Message Posted: Feb 20, 2012 6:01:11 PM

Here they go up again.
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spotterFL
Champion Author Florida

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Message Posted: Feb 20, 2012 6:00:58 PM

Wake me up when gas is at $1.25/gallon......zzzzzz.......zzzzz......zzzzz....
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slowtrain
Champion Author Georgia

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Message Posted: Feb 20, 2012 6:00:15 PM

Another excuse to raise gas prices.
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ItisAJeepThing
Champion Author Tucson

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Message Posted: Feb 20, 2012 5:57:36 PM


The U.S. only needs a few refineries to make all of the non-fuel products that we have to make from oil. The U.S. has a 100 year supply of natural gas that can be easily compressed into Liquified Natural Gas (LNG). Diesel engines can be easily converted to run on LNG. If all 18 wheelers were converted for about $2,000 to run on LNG and large high pressure (like propane) tanks were installed at all truck stops it would be cheaper to drive a big truck. American automobile manufacturers should start making cars and light trucks that run on LNG. They can go as far as a gasoline engine can on one tank of gasoline instead of 100 miles before recharging like EVs.

THE U.S. COULD EASILY BECOME ENERGY INDEPENDENT!!!
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dieselfiendSC
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Message Posted: Feb 20, 2012 5:56:00 PM

OK
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bra0712
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Message Posted: Feb 20, 2012 5:52:13 PM

Awesome
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fire@53
Champion Author Philadelphia

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Message Posted: Feb 20, 2012 5:51:14 PM

Speculation and greed are controlling our crude oil prices.
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mugrb
Champion Author Michigan

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Message Posted: Feb 20, 2012 5:51:09 PM

Will be seeing gas above $4.25/gallon again - just like it was in the summer of 2008.
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slowpoke63
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Message Posted: Feb 20, 2012 5:50:13 PM

ok
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Suzzoom
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Message Posted: Feb 20, 2012 5:49:13 PM

It's a global economy--everything is interconnected.
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