Show Entire Article
Heard the talk that oil could spike up to $200 as soon as August? Us too.As far as we can tell, it was largely triggered by commentary made by Beau Taylor of Taylor Woods Capital at CNBC’s Delivering Alpha conference.He told us that if there were a “material military escalation (in the Mideast) with no endgame,” he thought oil prices could double. “(In this kind of situation) commodities have a strange ability to go much higher and I suspect that they would,” he said.
Largely Taylor as well as other oil bulls point to rapid developments in the Mideast region which include: 1) the killing of top Syrian security chiefs on Wednesday, and 2) the attack on Israeli tourists in Bulgaria, which Israel accused Iran of carrying out.Considering the Middle East is the source of more than a quarter of the world's oil, should tensions escalate to the point where Iran blocks the Strait of Hormuz and prevents oil from getting to market – they say oil could hit $200That’s what they say, anyway.Esteemed commodities investor Dennis Gartman says something altogether different.
Page 1 of 3 | Next PageShow Entire Article
CLCV1 News & Analysis
No recent news available
DATA IS REAL-TIME EXCEPT NOTED WITH *
* DATA DELAYED AT LEAST 15 MINUTES