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Oil $105 jumps to 9-month-high

AP -- AP -

Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program.

By Monday afternoon, benchmark March crude was up $2.02 to $105.26 per barrel in electronic trading on the New York Mercantile Exchange, the highest since May. The contract rose 93 cents to settle at $103.24 per barrel in New York on Friday.

Iran's announcement will likely have minimal impact on supplies, analysts said, because only about 3 percent of France's oil consumption is from Iranian sources. Britain had not imported oil from the Islamic republic in six months.

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Submitted Feb 21, 2012 By: SkyWarnTX

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glorioussnookie Champion Author Tennessee Posts:3,761 Points:699,370 Joined:Feb 2010	Message Posted: Feb 21, 2012 1:59:25 PM Ignore glorioussnookie Report Abuse Definitely take a few minutes and check out the links SkyWarnTX has in their comments! The news videos are real eye openers!
clpassenubye Champion Author Los Angeles Posts:3,359 Points:750,755 Joined:Mar 2011	Message Posted: Feb 21, 2012 12:35:04 PM Ignore clpassenubye Report Abuse Not good
TruthMatters Champion Author New Jersey Posts:2,510 Points:531,310 Joined:Oct 2011	Message Posted: Feb 21, 2012 7:35:28 AM Ignore TruthMatters Report Abuse This is getting old, isn't it? It seems like this is what we are concerned about every single minute of the day.
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 7:20:24 AM Ignore SkyWarnTX Report Abuse --- The "ENRON LOOP HOLE" allows WALL STREET SPECULATORS to legally trade in the OIL FUTURES MARKET... CLICK HERE to WATCH the VIDEO explaining the ENRON LOOP HOLE ---
doeslayersr Champion Author Illinois Posts:9,093 Points:869,080 Joined:Dec 2010	Message Posted: Feb 21, 2012 6:38:01 AM Ignore doeslayersr Report Abuse Another market report which is out of date by the time it is posted.
brbaritone Champion Author Virginia Posts:2,061 Points:1,695,295 Joined:Jan 2007	Message Posted: Feb 21, 2012 6:13:39 AM Ignore brbaritone Report Abuse "Iran's announcement will likely have minimal impact on supplies, analysts said, because only about 3 percent of France's oil consumption is from Iranian sources. Britain had not imported oil from the Islamic republic in six months." O.K., so why increase prices? 'Excuse of the Week.'
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 5:06:16 AM Ignore SkyWarnTX Report Abuse --- The "ENRON LOOP HOLE" allows WALL STREET SPECULATORS to legally trade in the OIL FUTURES MARKET... CLICK HERE to WATCH the VIDEO the ENRON LOOP HOLE ---
otherdave Champion Author Indiana Posts:3,378 Points:1,266,235 Joined:Oct 2008	Message Posted: Feb 21, 2012 4:10:39 AM Ignore otherdave Report Abuse Get rid of the Head O-hole in Charge!
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 12:48:53 AM Ignore SkyWarnTX Report Abuse --- The "ENRON LOOP HOLE" allows SPECULATORS to trade in the OIL FUTURES MARKET... ---
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 12:34:41 AM Ignore SkyWarnTX Report Abuse --- ?? Think SPECULATORS are causing the RISE in OIL Prices ?? ---
HA4CNN Champion Author Toronto Posts:5,604 Points:1,539,490 Joined:Dec 2006	Message Posted: Feb 21, 2012 12:32:09 AM Ignore HA4CNN Report Abuse And who do you think benefits the most by rising oil prices,why the Government of course so bring on the propaganda so that they can all have a bigger piece of the revenue pie.
ScorpDrvr All-Star Author Sacramento Posts:522 Points:178,185 Joined:Sep 2011	Message Posted: Feb 21, 2012 12:27:17 AM Ignore ScorpDrvr Report Abuse "BO is up to 16 vacations? Wow. That's some real laser focus there." More focussed than Reagan, Clinton or W, who all had taken more vacations by this time in their Presidencies.
DirtDauber Champion Author San Antonio Posts:6,766 Points:1,624,535 Joined:Nov 2005	Message Posted: Feb 21, 2012 12:21:47 AM Ignore DirtDauber Report Abuse Really?
Krykson All-Star Author Chicago Posts:840 Points:247,285 Joined:Jul 2006	Message Posted: Feb 21, 2012 12:21:47 AM Ignore Krykson Report Abuse Interesting
bondo Champion Author Twin Cities Posts:3,491 Points:759,510 Joined:May 2001	Message Posted: Feb 21, 2012 12:21:43 AM Ignore bondo Report Abuse Prices up about $0.16 at the pump yesterday.
wulf2000 Champion Author Miami Posts:3,017 Points:1,386,430 Joined:May 2005	Message Posted: Feb 21, 2012 12:21:26 AM Ignore wulf2000 Report Abuse This is the reason as a country there should have a policy of exploration and drilling withing the US but his administration is against it.
DozenSpeed Champion Author St. Louis Posts:1,293 Points:391,550 Joined:Sep 2011	Message Posted: Feb 21, 2012 12:19:24 AM Ignore DozenSpeed Report Abuse BO is up to 16 vacations? Wow. That's some real laser focus there.
gudrench Champion Author Houston Posts:2,623 Points:529,990 Joined:Mar 2003	Message Posted: Feb 21, 2012 12:18:09 AM Ignore gudrench Report Abuse Can you say $5/gal?
LilRedWagonIN Champion Author Indiana Posts:7,761 Points:1,551,460 Joined:Oct 2008	Message Posted: Feb 21, 2012 12:18:02 AM Ignore LilRedWagonIN Report Abuse Headline news panics prices, although no real economic effect with actual supplies have little effect.
GryphonX Champion Author Nevada Posts:6,095 Points:1,584,775 Joined:Nov 2007	Message Posted: Feb 21, 2012 12:13:52 AM Ignore GryphonX Report Abuse Here it comes ...
SkyWarnTX All-Star Author Texas Posts:947 Points:57,185 Joined:Jan 2012	Message Posted: Feb 21, 2012 12:13:34 AM Ignore SkyWarnTX Report Abuse --- ? Think SPECULATORS are causing the RISE in OIL Prices? The "ENRON LOOP HOLE" exempts most over-the-counter energy trades and trading on electronic energy commodity markets from government regulation. CLICK HERE to WATCH the VIDEO the ENRON LOOP HOLE --- [Edited by: SkyWarnTX at 2/21/2012 1:16:55 AM EST]
runout9 Champion Author New Jersey Posts:3,240 Points:978,145 Joined:Dec 2008	Message Posted: Feb 21, 2012 12:12:38 AM Ignore runout9 Report Abuse Looks higher.
anascom Champion Author Hamilton Posts:1,593 Points:553,015 Joined:Feb 2011	Message Posted: Feb 21, 2012 12:09:01 AM Ignore anascom Report Abuse ok...
no8c Champion Author Ohio Posts:2,794 Points:702,150 Joined:Jul 2008	Message Posted: Feb 21, 2012 12:08:59 AM Ignore no8c Report Abuse Thanks for posting this article!
downstream Champion Author Little Rock Posts:1,106 Points:1,389,380 Joined:Mar 2006	Message Posted: Feb 21, 2012 12:08:50 AM Ignore downstream Report Abuse pardon me... is that your bigotry showing or are you just genetically ignorant?
The_DR Champion Author New Jersey Posts:2,765 Points:581,915 Joined:Aug 2011	Message Posted: Feb 21, 2012 12:08:29 AM Ignore The_DR Report Abuse Oil is expensive
joezIN Champion Author Gary Posts:1,663 Points:331,810 Joined:May 2011	Message Posted: Feb 21, 2012 12:08:28 AM Ignore joezIN Report Abuse DO I HEAR $110?
Tigercat88 Champion Author North Carolina Posts:3,182 Points:613,940 Joined:Jul 2011	Message Posted: Feb 21, 2012 12:08:20 AM Ignore Tigercat88 Report Abuse Speculators are looking for an excuse to bid up the prices even higher. There is no reason for all of this except Greed.
btex49 Champion Author Austin Posts:2,705 Points:528,155 Joined:Aug 2011	Message Posted: Feb 21, 2012 12:07:38 AM Ignore btex49 Report Abuse Ouch!
Tundralimited2009 Champion Author Dallas Posts:38,812 Points:1,447,425 Joined:Feb 2009	Message Posted: Feb 21, 2012 12:07:34 AM Ignore Tundralimited2009 Report Abuse Chevez will get some
GAS1251 Champion Author Texas Posts:5,133 Points:1,623,305 Joined:Jun 2008	Message Posted: Feb 21, 2012 12:05:32 AM Ignore GAS1251 Report Abuse Don't need it.
stephen2155 Champion Author North Carolina Posts:3,009 Points:654,705 Joined:Jun 2011	Message Posted: Feb 21, 2012 12:05:00 AM Ignore stephen2155 Report Abuse Greed
geminijax Champion Author Jacksonville Posts:16,817 Points:2,723,920 Joined:Aug 2005	Message Posted: Feb 21, 2012 12:03:54 AM Ignore geminijax Report Abuse vulcan96, Comrade Obama will do everything he can to bring down the price of oil & gasoline before the election. You can bet money on that!
Ron77095 Champion Author Houston Posts:3,045 Points:599,650 Joined:Sep 2011	Message Posted: Feb 21, 2012 12:02:07 AM Ignore Ron77095 Report Abuse Boo!
vulcan96 Champion Author Ohio Posts:26,879 Points:3,100,750 Joined:Aug 2004	Message Posted: Feb 20, 2012 11:59:10 PM Ignore vulcan96 Report Abuse as the muslim in the white house takes his 16th vacation.......has he no shame what so ever
quasar502 Champion Author Lansing Posts:3,568 Points:798,425 Joined:Jan 2011	Message Posted: Feb 20, 2012 11:57:49 PM Ignore quasar502 Report Abuse Still more speculation on Iran.
bobdec Champion Author Miami Posts:8,949 Points:1,766,795 Joined:May 2008	Message Posted: Feb 20, 2012 11:53:13 PM Ignore bobdec Report Abuse And no signs of stopping for now
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Feb 20, 2012 11:52:09 PM Ignore frostyWV Report Abuse another excuse.
Bussman Champion Author Dallas Posts:5,497 Points:1,355,960 Joined:Nov 2008	Message Posted: Feb 20, 2012 11:51:27 PM Ignore Bussman Report Abuse $4.00 per gallon unleaded...here we come.
speedraider Champion Author Orlando Posts:3,658 Points:1,641,970 Joined:Nov 2005	Message Posted: Feb 20, 2012 11:50:50 PM Ignore speedraider Report Abuse no surprize
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Feb 20, 2012 11:50:48 PM Ignore BWJM Report Abuse ok
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Feb 20, 2012 11:47:14 PM Ignore eomc17 Report Abuse Why is WTI going up because of Iran. It is produced in the USA. This is major b&llsh&t. Hey Obama, you good for nothing oil company shoe polisher, get up and serve your suffering voters for a change instead of telling us more lies about how you want to help your people. I am ashamed I voted for you, What have you done for me in 3 years. I lost my house, my family, went bankrupt, and lost 4 jobs. I disliked Bush but at least I had a job most of the 8 years he was in office and health care was much cheaper.
JohnofGB Champion Author Flint Posts:5,406 Points:1,093,270 Joined:Feb 2010	Message Posted: Feb 20, 2012 11:45:48 PM Ignore JohnofGB Report Abuse Too bad we have a president that does nothing to support lower gasoline prices. His policies are wreaking havoc with the American pocketbook. Obama needs to be a one term president.
Zonk Champion Author Michigan Posts:6,466 Points:2,099,090 Joined:Oct 2005	Message Posted: Feb 20, 2012 11:43:42 PM Ignore Zonk Report Abuse Prices are just starting to rise. Have a great Summer.
Buddy2264 Champion Author Tampa Posts:11,639 Points:2,357,045 Joined:Oct 2005	Message Posted: Feb 20, 2012 11:41:52 PM Ignore Buddy2264 Report Abuse For now I am guessing it will keep going up but no one likes to hear that. They want the profit while they can make it.
pgerassi Champion Author Milwaukee Posts:10,882 Points:2,128,750 Joined:Apr 2007	Message Posted: Feb 20, 2012 11:41:03 PM Ignore pgerassi Report Abuse It will drop again.
59glide All-Star Author New Haven Posts:857 Points:1,046,505 Joined:Apr 2006	Message Posted: Feb 20, 2012 11:38:54 PM Ignore 59glide Report Abuse GREED!
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Feb 20, 2012 11:38:35 PM Ignore hagar2935 Report Abuse Obama IS responsible for some of the rise, but it also is due to IRAN and the Middle East OPEC GREED.....
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,030 Joined:Oct 2008	Message Posted: Feb 20, 2012 11:38:17 PM Ignore LCSTEELERBOB Report Abuse greedy money is all this is about
Matt G Champion Author Boston Posts:4,518 Points:2,770,115 Joined:Jun 2004	Message Posted: Feb 20, 2012 11:37:21 PM Ignore Matt G Report Abuse Ok