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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (24120)	1/18/2006 10:03:59 AM
From: sea_urchin	Respond to of 81019

Phil > Damn Yankee terrorists! All we want to do is to try to keep warm in our igloos here until it thaws out a little in August. Next thing, they go and make war with Iran and cut off all that beautiful oil. Fortunately, it seems, reason is prevailing. news.yahoo.com >>World can't afford to lose Iran's oil: US EIA A disruption in Iran's crude oil exports because of a dispute over that country's nuclear program would further crimp the already tight global oil market and lead to higher petroleum prices, the head of the U.S. Energy Information Administration warned on Tuesday. "The market is so tightly balanced, clearly, we can't afford to lose a large supply of crude to the market," EIA chief Guy Caruso told Reuters in an interview. Even though the United States does not directly import Iranian crude, Caruso said a cutoff of Iran's oil would affect the U.S. market because other countries that buy Iranian crude would compete with America to find new supplies. "It's a fungible world oil market, and any disruption in supply affects everyone, because the price would go up for everyone," he said. U.S. crude oil prices shot above $66 a barrel to a 3-1/2 month high on Tuesday, as the market fretted about the dispute with Iran and problems in Nigeria. Caruso declined to say whether he believed a disruption of Iran's oil exports could send oil prices to $100 a barrel. "I wouldn't want to speculate on that. Hopefully (the nuclear dispute) would be resolved without any disruption of supply," he said. The United States and European Union want the United Nations Security Council to consider action against Iran to prevent, or punish, that country for moving forward with an uranium enrichment program that the West fears could lead the development of a nuclear bomb. Iran says its uranium program is intended to create fuel to run nuclear power plants and boost electricity supplies. Economic sanctions, which could affect Iran's oil exports, are possible but thought to be unlikely. Iran, the world's fourth biggest oil exporter, has warned that global crude prices would go higher if the United Nations imposes sanctions. <<