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GasBuddy News Article

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Oil Set for Best Monthly Advance Since October on Recovery Signs, Iran

Bloomberg -- Oil rose, heading for its best month in New York since October, amid signs of economic recovery and concern that tension with Iran threatens global crude supplies.

West Texas Intermediate futures climbed as much as 0.8 percent after sliding yesterday the most in five weeks. Industrial output in Japan and South Korea beat estimates and U.S. consumer confidence rose to the highest level in a year. Oil has advanced 8.6 percent in February, its first monthly gain in three, as sanctions tighten against Iran, OPEC’s second- biggest producer.

“Oil prices will run up further as U.S. economic data remains supportive, and Iran and Syria continue to give cause for supply-side worries,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, who earlier this month correctly


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Submitted Feb 29, 2012 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Set for Best Monthly Advance Since October on Recovery Signs, Iran Back to Topics
REPLIES (newest first) Post a Reply
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Eliano
Champion Author Baltimore

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Message Posted: Mar 1, 2012 4:27:34 AM

no recovery yet
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FPLREP
Champion Author Virginia

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Message Posted: Feb 29, 2012 8:36:11 AM

Almost sounds like they are proud that the price is up.
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Night Owl
Champion Author Toronto

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Message Posted: Feb 29, 2012 6:59:47 AM

Greedy Wall Street oil speculators are alive and well.
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vmholladay
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Message Posted: Feb 29, 2012 6:22:17 AM

?
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wrunner
Champion Author Virginia

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Message Posted: Feb 29, 2012 6:21:35 AM

Oil sets best advance due to FEAR!
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albert2008
Champion Author Winnipeg

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Message Posted: Feb 29, 2012 6:17:01 AM

the merry go round continues
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carnifolks
Veteran Author New Jersey

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Message Posted: Feb 29, 2012 6:10:14 AM

High oil and gas will stall this economy
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dorisntx
Champion Author Fort Worth

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Message Posted: Feb 29, 2012 6:04:12 AM

ok
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grandpadon28110
Champion Author Charlotte

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Message Posted: Feb 29, 2012 5:49:41 AM

Drill drill drill.
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dgerst
Champion Author South Carolina

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Message Posted: Feb 29, 2012 5:39:08 AM

If you are an owner of big oil you might call it the best month, however if you are a consumer like most everyone, you'd probably call it the worst month. This article must have been written for fat cats.
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BurntOrange
Champion Author Austin

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Message Posted: Feb 29, 2012 5:31:52 AM

I suppose it depends on your definition of "best".
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