Okay, so raising oil prices based on risk from hurricanes, Iraq and Iran is perfectly reasonable. It's just a reality of living today. But the latest stint of price hikes are getting a little silly. Basing a price hike on North Korea or Isreal is just a bit far fetched.
So I have this to say to the futures types in the international banks...
Give us a break, give our oil companies a break, grow some balls, and stop flinching on every little world event. If nothing happens your little bubble is going to pop and that isn't going to be good for you or your investors. Uh oh Bush just caught a cold.. That's it! oil's going over $80 /barrel. The state of New York will love that one (gas tax there is based on price, not on quantity, how's that for gouging!). This could become a great game! Name a world event and estimate it's effect on oil prices.
edit-
So I guess I could see how North Korea and Isreal could have an effect actual oil prices in general. But seriously though, I still think the market is overreacting badly.
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