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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (184502)	6/25/2014 7:09:15 AM
From: Dennis Roth	2 Recommendations Recommended By evestor LoneClone Read Replies (1) of 206151

Energy Weekly: Iraq Keeps the Market on Edge — Oil Prices Shrug Off Weak Physical Markets As Iraqi Troubles Remain. China Moves To #1 Energy Net Consumer 23 June 2014 ¦ 14 pages ir.citi.com The current state of affairs in Northern Iraq is difficult to establish with any certainty but newsflow is doing little to help oil bears, with the latest reports suggesting ISIS have captured several key border crossings to Jordan and Syria. This could see increased flows of ISIS personnel and weaponry into Iraq, further destabilizing the country. Geopolitical risk has been solely responsible for pushing Brent to ~$114/bbl as spec net length reached a yearly high of 224-k lots last week. Citi’s base case is for Baghdad to remain in government control, meaning minimal disruptions to Basra loadings. But the Iraqi situation and degree of uncertainty, the ongoing Russia-Ukraine crisis and other MENA troubles likely warrant the elevated flat price. Unless something gives, it is hard to see flat price making a significant move lower.

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