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Oil Prices Climb Higher
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Description
FBN’s Jeff Flock on the factors boosting the price of oil higher.
- Duration 1:48
- Date Dec 26, 2012
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Transcript
This transcript is automatically generated
More oil prices surging back to 91000 -- -- blocks in the -- this CME with today's trade we know is gonna go higher when her real Christmas gift for awhile.
Well yes that's true let's say we had a number of factors running today and I don't think any of them have to do with a fiscal -- as we talk -- -- got a -- on a tour the exchange synergistic you can see for yourself the volume take a look that's -- -- -- -- -- futures right there there's tumble -- gone through that -- today but let's talk oil if we can.
I'm gonna show you three reasons why oil -- up today and they all have to do with the Middle East first of all the Kurds in the north of Iraq suspending production why.
-- -- having a dispute with Baghdad over prices also in the Middle East Iran two sets of military exercises.
One in need that big gas field that south pars gas field -- -- largest gas field.
In the world.
Military exercises starting -- today and then later this week in the straits of Hormuz.
More military exercises that makes it oil market very -- if you take a look at prices as we walked past the live live cattle futures and the -- feeder.
I cattle futures.
Gets here -- you can see also a little bit thin.
That has driven up the entire oil complex everything from WTI to -- to gasoline futures to heating oil futures -- also got a lot of I should say cold weather coming in so much more need for heating oil and the like as well I end our tour.
Here in the tag room.
Corn.
Oats wheat all of the rest we thought it was a good day take a walk around the forces we don't get to people's way on a day like today.
When trading volume is light.
-- -- Isn't a good Jeff black -- can reduce that press.
