Oil Price Forecast - Sept 14
Posted: Sat Sep 14, 2019 6:26 pm
“This is a big deal,” said Andrew Lipow, president of Lipow Oil Associates. “Fearing the worst, I expect that the market will open up $5 to $10 per barrel on Sunday evening.”
“If Abqaiq kills talks of easing sanctions and the discussion turns to retaliation and escalation, I think oil could easily trade higher by $10 or more,” said Bob McNally, president at Rapidan Energy Group.
Read more: https://www.cnbc.com/2019/09/14/oil-cou ... utput.html
Based on the footage that I've seen, the damage to the largest oil processing facility on earth is extensive. It won't be fixed in a few weeks.
MY TAKE: If they pin the attacks directly on Iran there will be retaliation. If that happens we might see Brent spike to $75/bbl and WTI to $70/bbl. Regardless, I cannot see the U.S. lifting the sanctions against Iran and I can see us telling the rest of the world that we will come down hard on anyone that does business with Iran.
“If Abqaiq kills talks of easing sanctions and the discussion turns to retaliation and escalation, I think oil could easily trade higher by $10 or more,” said Bob McNally, president at Rapidan Energy Group.
Read more: https://www.cnbc.com/2019/09/14/oil-cou ... utput.html
Based on the footage that I've seen, the damage to the largest oil processing facility on earth is extensive. It won't be fixed in a few weeks.
MY TAKE: If they pin the attacks directly on Iran there will be retaliation. If that happens we might see Brent spike to $75/bbl and WTI to $70/bbl. Regardless, I cannot see the U.S. lifting the sanctions against Iran and I can see us telling the rest of the world that we will come down hard on anyone that does business with Iran.