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Strait of Hormuz Shots Fired, Impact on Oil Prices

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  • Description

    FBN’s Sandra Smith on oil prices and the shots fired at the Strait of Hormuz.

  • Duration 1:19
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And those are commodity bulls off and running -- new hubs for stimulus -- -- -- Santa Smith joins us now for the pets at a standing with the trade president Sandra.

Okay shall definitely watching those oil markets this is big news down here a lot of traders member oil markets affect all the -- -- here with us -- S&P 500.

Agricultural trading markets those oil prices hit the highs of the session on news that a US navy vessel fired upon small motor but.

In the Strait of Hormuz remember this.

Causes for great concern about the supply of oil considering all the tankers that -- pass through that very.

Very narrow passageway ignored warnings they approached the chef and by the way this is happening on a day when we're learning -- CFTC report.

That there are more bulls and the commodities markets right now than we've seen in months.

End of the -- with Citigroup.

Just lowered its oil forecasts but still calling for an average of 94 dollars ten cents a barrel.

For the rest of the year and not only that -- and -- there also is calling for 99 dollars to be the average price for all 2013 so.

The bulls are down here they came to play and now we've got this bullish news out of the Strait of Hormuz that oil market definitely Iraq and yet you look at the at today's greatest hits -- -- you can't see the spike right there it happened all right Sanders -- -- -- pets.

-- -- -- -- Our -- probably gonna take a look at how the.

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