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Oil Markets Shrug Off Iranian Attack on U.S. Drone

Fox News -- An unarmed, unmanned U.S. drone flying in international airspace was fired on by Iran last week, Pentagon officials confirmed on Thursday, highlighting mounting tensions between the two countries. The move's ultimate impact on oil prices will depend on several factors, analysts said.
“When geopolitical tensions increase prices tend to rebound due to the simple fact that there is close to no spare capacity,” said Olivier Jakob, founder and managing director of Swiss-based Petromatrix.
Oil traders aren’t forecasting much of a bullish rally from the attack, though, saying tightening sanctions on the oil producer that halved the country’s oil exports this year have already been priced into the market, easing supply-side pressures on the West.
Oil traded slightly higher on Thursday, settling u

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Submitted Nov 09, 2012 By: mastermariner

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DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: Nov 10, 2012 11:37:25 PM Ignore DrCashFlow Report Abuse as well they should
sydb7 Champion Author Atlanta Posts:3,557 Points:1,919,755 Joined:Mar 2003	Message Posted: Nov 9, 2012 1:40:36 PM Ignore sydb7 Report Abuse Are speculators waiting for their next opportunity to raise prices?
Jebeahm Champion Author Maryland Posts:1,252 Points:459,280 Joined:Mar 2011	Message Posted: Nov 9, 2012 9:58:28 AM Ignore Jebeahm Report Abuse Bla Bla fuel for big oil propaganda
CocoPaz Champion Author Santa Barbara Posts:2,380 Points:324,370 Joined:Jun 2012	Message Posted: Nov 9, 2012 9:34:20 AM Ignore CocoPaz Report Abuse The Bible teaches us that Armageddon will start in the Middle East. We are praying for those of you on the East Coast.
dlgrote Rookie Author Stockton Posts:22 Points:4,120 Joined:Nov 2012	Message Posted: Nov 9, 2012 9:05:55 AM Ignore dlgrote Report Abuse friggen oil mkts !!
johton Champion Author Seattle Posts:1,220 Points:313,140 Joined:Jun 2012	Message Posted: Nov 9, 2012 8:54:05 AM Ignore johton Report Abuse Yes, they didn't hit it, and we didn't respond! We probably never will.
sharpspur Sophomore Author Jacksonville Posts:120 Points:147,765 Joined:Oct 2012	Message Posted: Nov 9, 2012 8:53:04 AM Ignore sharpspur Report Abuse The media needs to quit reporting problems in the mid-east because it gives the big oil barons a reason to raise fuel prices immediately.
geezrtek Champion Author Michigan Posts:1,912 Points:431,960 Joined:Apr 2011	Message Posted: Nov 9, 2012 8:34:58 AM Ignore geezrtek Report Abuse Yeah, but they didn't hit it.
mfgendron All-Star Author New York Posts:684 Points:308,885 Joined:Sep 2008	Message Posted: Nov 9, 2012 8:30:47 AM Ignore mfgendron Report Abuse What do you expect from faux Fox. Thanks to the coolness of our re-elected Prez....when it gets tough..the tough will get going.
amoshins Champion Author Trenton Posts:2,200 Points:642,620 Joined:Apr 2011	Message Posted: Nov 9, 2012 8:26:56 AM Ignore amoshins Report Abuse Good they should have shrugged off this event
md11capt Champion Author Denver Posts:3,558 Points:711,180 Joined:Mar 2011	Message Posted: Nov 9, 2012 8:18:40 AM Ignore md11capt Report Abuse The drones have been very effective in their job.
ModelWarships Champion Author Missouri Posts:5,800 Points:1,233,060 Joined:Jul 2008	Message Posted: Nov 9, 2012 7:42:57 AM Ignore ModelWarships Report Abuse still waiting for the seasonal drop to continue.
Gas_Eyes Champion Author Dallas Posts:2,682 Points:645,835 Joined:Mar 2011	Message Posted: Nov 9, 2012 7:41:37 AM Ignore Gas_Eyes Report Abuse Why is there no response from our government.
rwe930 Veteran Author Alabama Posts:319 Points:391,160 Joined:Aug 2011	Message Posted: Nov 9, 2012 7:40:54 AM Ignore rwe930 Report Abuse good
tutaw Champion Author Kentucky Posts:3,600 Points:843,495 Joined:Sep 2008	Message Posted: Nov 9, 2012 7:36:56 AM Ignore tutaw Report Abuse ok
Tutootin Champion Author Toronto Posts:10,126 Points:3,078,405 Joined:Jun 2004	Message Posted: Nov 9, 2012 7:32:40 AM Ignore Tutootin Report Abuse "due to the simple fact that there is close to no spare capacity"...I really don't understand that!
Ronk50MO All-Star Author St. Louis Posts:557 Points:275,235 Joined:Mar 2012	Message Posted: Nov 9, 2012 7:27:13 AM Ignore Ronk50MO Report Abuse send a couple of planes up after them and see if they do it again
Sethyl Champion Author Miami Posts:1,758 Points:378,440 Joined:Oct 2009	Message Posted: Nov 9, 2012 7:24:20 AM Ignore Sethyl Report Abuse good. it has nothing to do with oil, just a rogue country testing their limits like a child
TxPDawg All-Star Author Austin Posts:657 Points:380,245 Joined:Mar 2011	Message Posted: Nov 9, 2012 7:23:11 AM Ignore TxPDawg Report Abuse Well, what can i say
Lologogo Champion Author Twin Cities Posts:1,314 Points:356,390 Joined:Sep 2011	Message Posted: Nov 9, 2012 7:23:10 AM Ignore Lologogo Report Abuse all you crazy people who want us to go to war with Iran can go suck an egg. Like we got money for Another War, just hanging out there. Ok, lets take it from education, so we end up being just like them, a bunch of war hungry, uneducated morons, fighting every battle we can. The sanctions will work, and they didn't do any harm to our Un-Armed drone.
BurntOrange Champion Author Austin Posts:8,733 Points:1,583,990 Joined:Nov 2007	Message Posted: Nov 9, 2012 7:19:34 AM Ignore BurntOrange Report Abuse Pakistanis shoot at them every day.
bmsgolf Champion Author Amarillo Posts:2,052 Points:455,230 Joined:May 2011	Message Posted: Nov 9, 2012 7:19:10 AM Ignore bmsgolf Report Abuse Why don't we just wipe them off the face of the earth and fix this once and for all!!!
madison8359 Champion Author Cleveland Posts:9,031 Points:1,594,270 Joined:Apr 2008	Message Posted: Nov 9, 2012 7:17:41 AM Ignore madison8359 Report Abuse OK it's time to make Iran a parking lot.
gamalerin Champion Author Tampa Posts:4,757 Points:994,485 Joined:Jul 2010	Message Posted: Nov 9, 2012 7:17:17 AM Ignore gamalerin Report Abuse We have to stop them.
Zeke33 Champion Author New Hampshire Posts:5,576 Points:1,616,870 Joined:Sep 2005	Message Posted: Nov 9, 2012 7:15:39 AM Ignore Zeke33 Report Abuse Nothing will be done. Obummer wouldn't want to "upset" his fellow muslims.
Sam195 Champion Author San Bernardino Posts:8,095 Points:1,576,050 Joined:Oct 2008	Message Posted: Nov 9, 2012 7:15:23 AM Ignore Sam195 Report Abuse Romney would have bombed Tehran. Obama will just tell them to stop.
saunta Veteran Author Salt Lake City Posts:374 Points:121,010 Joined:Aug 2005	Message Posted: Nov 9, 2012 7:14:49 AM Ignore saunta Report Abuse Gave fox news something to complain about anyways...
homespesial All-Star Author Seattle Posts:710 Points:156,245 Joined:Oct 2012	Message Posted: Nov 9, 2012 7:13:32 AM Ignore homespesial Report Abuse hunting for free oil
firechief Champion Author New York Posts:3,446 Points:2,066,375 Joined:Mar 2004	Message Posted: Nov 9, 2012 7:13:07 AM Ignore firechief Report Abuse nothing was hit no more of a threat than saying I will bomb you
Lairre Champion Author Sacramento Posts:3,010 Points:188,135 Joined:Oct 2012	Message Posted: Nov 9, 2012 7:12:58 AM Ignore Lairre Report Abuse Sanction the crap out of the Iranians
pbalmeo All-Star Author Los Angeles Posts:890 Points:188,090 Joined:Aug 2011	Message Posted: Nov 9, 2012 7:12:25 AM Ignore pbalmeo Report Abuse That is not a good sign. The Sanctions are not fully effective.
dgarz01 All-Star Author Illinois Posts:679 Points:598,390 Joined:Mar 2011	Message Posted: Nov 9, 2012 7:10:48 AM Ignore dgarz01 Report Abuse Ok
minnesotagirl Champion Author Milwaukee Posts:5,867 Points:1,232,645 Joined:Oct 2009	Message Posted: Nov 9, 2012 7:10:42 AM Ignore minnesotagirl Report Abuse More saber rattling
pricechecker08 Champion Author Ohio Posts:7,881 Points:1,701,675 Joined:Jan 2008	Message Posted: Nov 9, 2012 7:10:36 AM Ignore pricechecker08 Report Abuse Heard we had plenty of oil without using all this foreign oil/
JCS Champion Author Twin Cities Posts:4,033 Points:1,314,765 Joined:Apr 2002	Message Posted: Nov 9, 2012 7:10:34 AM Ignore JCS Report Abuse nuke them
Jorgie Champion Author Twin Cities Posts:9,968 Points:2,922,370 Joined:Jul 2002	Message Posted: Nov 9, 2012 7:10:12 AM Ignore Jorgie Report Abuse Iran has really great pilots, they couldn't even shoot down an unarmed drone.:>)
blazerbob91 Champion Author Milwaukee Posts:6,150 Points:1,884,645 Joined:Aug 2005	Message Posted: Nov 9, 2012 7:09:53 AM Ignore blazerbob91 Report Abuse Trigger happy
ifallsguy Champion Author Minnesota Posts:5,180 Points:1,552,795 Joined:Apr 2007	Message Posted: Nov 9, 2012 7:08:59 AM Ignore ifallsguy Report Abuse is it an act of war to attack a remote controlled aircraft? Anyone have an idea what international law is on this?
fightbigoil71 Champion Author Milwaukee Posts:7,567 Points:1,546,630 Joined:Nov 2008	Message Posted: Nov 9, 2012 7:08:21 AM Ignore fightbigoil71 Report Abuse Loose cannon in the Middle East
dgracing318 Champion Author Georgia Posts:1,025 Points:466,470 Joined:May 2011	Message Posted: Nov 9, 2012 7:07:54 AM Ignore dgracing318 Report Abuse Nuke them back to the stone age [Edited by: dgracing318 at 11/9/2012 10:08:36 AM EST]
redbeard47229 All-Star Author Indiana Posts:675 Points:43,045 Joined:Feb 2012	Message Posted: Nov 9, 2012 7:06:27 AM Ignore redbeard47229 Report Abuse we need to start using armed drones to defend themselves
Somis1 Champion Author Ventura Posts:13,687 Points:2,615,750 Joined:Jul 2005	Message Posted: Nov 9, 2012 7:06:25 AM Ignore Somis1 Report Abuse Just Iranians being Iranians. No harm, no foul.
Black Wagon Champion Author Illinois Posts:7,317 Points:1,802,995 Joined:Mar 2004	Message Posted: Nov 9, 2012 7:06:04 AM Ignore Black Wagon Report Abuse This news was supprested until after the elecion.
Taurus1 Champion Author Ohio Posts:3,135 Points:1,675,450 Joined:Apr 2006	Message Posted: Nov 9, 2012 7:05:39 AM Ignore Taurus1 Report Abuse Now this will impact price.
jay93LA Champion Author New Orleans Posts:2,454 Points:600,685 Joined:Aug 2011	Message Posted: Nov 9, 2012 7:04:46 AM Ignore jay93LA Report Abuse not an excuse for war
DarthDadJr Champion Author Virginia Posts:7,317 Points:1,522,395 Joined:Jul 2008	Message Posted: Nov 9, 2012 7:04:35 AM Ignore DarthDadJr Report Abuse Iranians are trying to drive up tension in the region and the price of oil by this act.
buzzieNY Champion Author Buffalo Posts:2,898 Points:636,530 Joined:Jun 2011	Message Posted: Nov 9, 2012 7:03:40 AM Ignore buzzieNY Report Abuse They need strong sanctions. Let them drink their oil.
mreiff Champion Author Louisville Posts:5,355 Points:1,304,665 Joined:May 2009	Message Posted: Nov 9, 2012 7:03:13 AM Ignore mreiff Report Abuse Thankfully!
TuanCanCook Champion Author Los Angeles Posts:12,367 Points:657,740 Joined:Jun 2011	Message Posted: Nov 9, 2012 7:03:12 AM Ignore TuanCanCook Report Abuse True SpankyMI
SpankyMI Champion Author Kalamazoo Posts:2,713 Points:760,255 Joined:Jan 2011	Message Posted: Nov 9, 2012 7:02:32 AM Ignore SpankyMI Report Abuse Only because they did not shoot it down!