Crude Jumps on Netanyahu War-Mongering

[BlackTortoise + 103]

Oil prices jumped after Israel's Prime Minister Benjamin Netanyahu revealed files he claims show Iran ran a secret program to produce nuclear weapons.

https://www.cnbc.com/2018/04/30/benjamin-netanyahu-to-address-iran-nuclear-deal-sending-oil-higher.html

[jose chalhoub + 388]

• amazing how a simple declaration with some who knows the real veracity of the sources and claims of Mr Netanyahu could make oil and gold prices jump. I really want to see the feasibility of any potential attack against Iran's nuclear facilities. The scenario is being set by force and of course having neo cons as U.S. foreign policy designers and in the intelligence community, definitely this is not surprising. But definitely oil and natural resources geopolitical dynamics have just gotten really interesting. 

[Jeffrey Brown + 207]

"Interesting" oil price article follows.

 

Note that Pierre Andurand, referenced below,  was one of the few analysts who took (a highly profitable) bearish position on oil prices in 2014.  He started turning bullish on oil in early 2016. He was probably a little early, but the fact remains that monthly Brent crude oil prices have risen an an annualized rate of about 40%/year since hitting the monthly low for this cycle of $31 in January, 2016.  

 

Oil Hedge Fund Manager Andurand Says $300 Oil 'Not Impossible' - Bloomberg (Apri, 2018)

https://www.bloomberg.com/news/articles/2018-04-30/oil-hedge-fund-manager-andurand-says-300-oil-not-impossible

 

Excerpt:

 

Pierre Andurand, one of oil’s most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

 

Andurand, who’s often espoused bullish views, said in a series of tweets on Sunday that concern about the impact of electric vehicles on future demand was limiting investment in projects with long lead times.

 

"So paradoxically these peak demand fears might bring the largest supply shock ever," he wrote. "If oil prices do not rise fast enough, $300 oil in a few years is not impossible."