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"You get the respect that you give" - cnredd

For those who are interested in discussion:

Oil passes USD 139 on Israel's Iran threat

Sat, 07 Jun 2008




New York Mercantile Exchange

Fears of a new Middle East conflict have marked new heights for oil prices after the Israeli regime threatened to attack Iran.

Israeli deputy prime minister Shaul Mofaz on Friday declared that "If Iran continues its nuclear weapons program, we will attack it."

New York's main oil futures contract, light sweet crude for July delivery, leapt 10.75 dollars a barrel -- its biggest one-day jump ever -- to close at a record 138.54 dollars, AFP reported.

In London, Brent North Sea crude for July crossed 138 dollars for the first time and hit 138.12 dollars a barrel. It eased back to settle at 137.69 dollars, up 10.15 dollars. But light sweet crude in New York went above the USD 139 mark on the back of Morgan Stanley's prediction oil would be selling for USD 150 per barrel by July.

Antoine Halff, an analyst at Newedge Group, said: "The Mofaz comments bring home the point that the dispute over Iran's nuclear program remains unresolved and that the risks of military confrontation are indeed increasing.

"This will likely be a growing source of market volatility until a solution to the dispute is found," he added.

Press TV - Oil passes USD 139 on Israel's Iran threat

I've never seen a Russian speak Swedish, but another post like this and we'll all see it...

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"You get the respect that you give" - cnredd

Like the panic that struck the citizens of Afghanistan when the Soviet Union now defunct struck Afghanistan?

I just paid $3.79 for a gallon a few hours ago. Iran doesn't have any refineries, in case you don't know; there are other options besides this hysterical hyperbole about 'attacking' them directly. It's a very simple matter to cripple them domestically. The issue is if they attack, and who they attack, not us.

Their militia in Lebanon is busy attacking as we speak, trying to keep Lebanon a weak puppet state so they can attack Israel with impunity. I sincerely hope the Israelis can force Bush into developing a spine and adopt a decent strategy, instead of waffling around until somebody like McCain forces a change from outside.