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QE, Middle East Drive Oil Near $100

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  • Description

    Dan Stecich of TJM Institutional Services on the recent uptick in oil prices.

  • Duration 2:48
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This transcript is automatically generated

The oil market because the price is very close to a hundred dollars a barrel 9929.

To be precise.

-- -- company from Chicago against message he's okay and institutional services that we've had some discussion on the show this morning about that hundred dollar figure.

My colleague as a formal oil try to Sandra Smith.

Suggest that much of this gain towards a hundred bucks is the result of Ben Bernanke printing up a storm.

I'm not much not that much to do.

With the violence in the Middle East.

-- -- -- -- You know all agree with -- to an extent there has been some because -- QE3.

But the reality is there's a lot of unrest in the Middle East right now finance cause -- problems is still have the Israel Iran thing I think dance to something in the background.

But the most recent example of the QE3 has pushed it up quite a bit.

If we wanna get -- down if you look at supply demand it certainly doesn't belong at these levels let's say more -- 85 dollars but there's a lot going on with the Q week.

With the Middle East -- rest of -- don't -- a bit on.

Again that's likely to keep going isn't it because.

I'm and I don't see the mideast thing calming down -- -- see the Iran Israel thing going away you.

Short of an outright attack in the immediate future.

And I don't see the printing of money going away for a long long time becomes so all you telling -- But the price of oil stays in the high ninety dollar range -- -- out.

I think it does not unless we see some chains out of the Middle -- and that doesn't look like that's forthcoming evacuees done that's overlooked -- know concern it's gonna be -- -- long time.

So we're gonna need to see some drastic -- if there could be any agreement.

To get.

Israel away from attack -- Iran -- the possibility of it then maybe that'd bring it down a bit but there's still you have so many other things have come out now.

That this market's going to be bid for awhile and it's not going to be good for the economy.

Here you have the average price -- gas at 30380.

-- some.

We're paying four dollars and 44 cents -- -- it's just out of control would d.s unit Chicago music for forty -- days that we set forth.

Yes I did it and that's the regular pot.

This is regular on on I live in the southwest suburbs.

You can get it for 439437.

At some of the other stations but it's not going down.

Which he knows that yeah what that -- message.

But -- ultimately does -- good stuff -- thank you very much that we do appreciate being with my pleasure.

And I don't want to discount to what she was saying.

He's exactly what I -- in a it a lot of this is Ben Bernanke it.

Everything that the Fed is done the Fed's policies have devalued the US dollar the more we divide US stocks higher all those costs of the consumer go up every day including an.

They do indeed isn't evident Bernanke's job to maintain the value of the dollar stop integrated office I know I get which it was -- -- tails I'm sorry if you don't get we get the trumpets.

The top fed.

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