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Oil May Extend Gains as Supply Threats Build: Survey

CNBC -- Benchmark crude oil prices will likely rise this week as global supply threats build and markets price in a positive outcome to Greek debt talks, CNBC's weekly survey showed.

Seven of this week's sample group of eight respondents expect oil prices to climb, while one forecasts prices to remain unchanged.

Compass Global Markets' Peter Turville-Ince has a bullish call on oil this week and expects $120 "very soon in the WTI space" though momentum in Brent crude should "start to slow and should be limited towards $125/$127 for now."

Asian stocks markets rose on Monday reflecting optimism that Greece will seal a deal on a second bailout at a meeting with Euro zone officials later today.

Senior officials from euro zone finance ministries and the European Central Bank held a conference call o

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Submitted Feb 20, 2012 By: jem069

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E-Squirrel Champion Author Orange County Posts:3,015 Points:820,970 Joined:Feb 2005	Message Posted: Feb 27, 2012 2:33:46 PM Ignore E-Squirrel Report Abuse duffee01 complains: 'Nothing has changed with the exception that the oil speculators have been ordered to start their usual game of running the price up. Screw the American taxpayer and consumer is what they are doing. I just can't see how Congress can't do a little bit of investigation on price gouging, earn your keep!!' Who do you think 'orders' speculators to drive the price up? This sort of thing would be more easily understood, if you read a basic economic text book. For starters, Supply and demand controls the price. Speculators contribute neither to supply, nor demand, being neither producers nor consumers. [Edited by: E-Squirrel at 2/27/2012 3:34:10 PM EST]
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Feb 23, 2012 4:58:05 AM Ignore honda0105 Report Abuse no surprise. Pig Oil and cousins takes any excuse to keep prices down.
tomok Champion Author Portland Posts:33,072 Points:2,347,460 Joined:Aug 2006	Message Posted: Feb 21, 2012 2:12:00 AM Ignore tomok Report Abuse Restrict fuel supply, Charge higher fuel prices at the pump with manufactured shortages. Whatever the size or shape the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation or car pool to lower your cost for transportation. The price of fuel at the pump is too high! 12/22/2012!
ammamama13 Rookie Author California Posts:96 Points:68,285 Joined:May 2011	Message Posted: Feb 20, 2012 11:29:03 PM Ignore ammamama13 Report Abuse just another reason to raise gas prices....
ravenclaw_29 Rookie Author Oakland Posts:53 Points:11,410 Joined:Jan 2012	Message Posted: Feb 20, 2012 10:53:49 PM Ignore ravenclaw_29 Report Abuse OK
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: Feb 20, 2012 10:53:00 PM Ignore abacus44 Report Abuse Reality sucks.
carman11 Champion Author North Carolina Posts:3,348 Points:693,675 Joined:Jun 2011	Message Posted: Feb 20, 2012 10:49:12 PM Ignore carman11 Report Abuse OK
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Feb 20, 2012 10:49:00 PM Ignore bonzoonfmb Report Abuse Speculators.
Rt118E Champion Author Pennsylvania Posts:9,498 Points:1,370,220 Joined:Jun 2009	Message Posted: Feb 20, 2012 10:48:59 PM Ignore Rt118E Report Abuse This is going to really hurt people like me
tidalwave3 Champion Author Tallahassee Posts:1,308 Points:1,465,580 Joined:Jun 2008	Message Posted: Feb 20, 2012 10:46:30 PM Ignore tidalwave3 Report Abuse So much speculation and total lack of faith. GREED :]
Dodge_Me Champion Author Atlanta Posts:2,214 Points:557,730 Joined:Mar 2006	Message Posted: Feb 20, 2012 10:45:32 PM Ignore Dodge_Me Report Abuse That sucks
MidNJ Champion Author New Jersey Posts:7,564 Points:1,174,075 Joined:Sep 2009	Message Posted: Feb 20, 2012 10:42:27 PM Ignore MidNJ Report Abuse Un-be-leave-able!! And there is more!!!
Akcamper Veteran Author Tucson Posts:274 Points:30,555 Joined:Dec 2011	Message Posted: Feb 20, 2012 10:42:16 PM Ignore Akcamper Report Abuse screwed again!
bif65 Champion Author Virginia Posts:1,023 Points:195,880 Joined:Jan 2011	Message Posted: Feb 20, 2012 10:39:51 PM Ignore bif65 Report Abuse ok
PoohMcGoo Champion Author Alabama Posts:3,072 Points:802,410 Joined:Dec 2010	Message Posted: Feb 20, 2012 10:33:34 PM Ignore PoohMcGoo Report Abuse Damn speculators jumping in now..
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Feb 20, 2012 10:32:56 PM Ignore OGW Report Abuse American business interests play the shortage card so they can charge more. The problem with oil prices in the world is all caused by US business interests whether Wall Stree or Big Oil or those opposing oil to screw everyone with some other form of energy. it is all about taking our money from us.
sit Champion Author Cleveland Posts:5,215 Points:1,934,895 Joined:Feb 2006	Message Posted: Feb 20, 2012 10:27:59 PM Ignore sit Report Abuse OK
mstearno Champion Author Dayton Posts:8,075 Points:1,733,165 Joined:Jan 2008	Message Posted: Feb 20, 2012 10:27:47 PM Ignore mstearno Report Abuse this is bad news but may be the news we need for change
suzmar Champion Author Texas Posts:2,213 Points:873,785 Joined:Jun 2006	Message Posted: Feb 20, 2012 10:25:29 PM Ignore suzmar Report Abuse This will be very bad news for the economy.
KhelbenArunson Champion Author Michigan Posts:4,456 Points:719,815 Joined:Apr 2008	Message Posted: Feb 20, 2012 10:25:24 PM Ignore KhelbenArunson Report Abuse Just another reason we need to switch to an alternative fuel.
skyking19 Champion Author Little Rock Posts:2,006 Points:1,700,790 Joined:Jan 2007	Message Posted: Feb 20, 2012 10:24:43 PM Ignore skyking19 Report Abuse Not a good sign ahead.
majorfall Champion Author New York Posts:15,746 Points:3,111,065 Joined:May 2004	Message Posted: Feb 20, 2012 10:22:23 PM Ignore majorfall Report Abuse soon the economy will collapse again due to oil prices just like many times before
my2002m Champion Author Tulsa Posts:6,084 Points:1,672,250 Joined:Jul 2008	Message Posted: Feb 20, 2012 10:19:44 PM Ignore my2002m Report Abuse And prices keep jumping higher at the pumps.
pse91 All-Star Author Calgary Posts:640 Points:560,625 Joined:May 2011	Message Posted: Feb 20, 2012 10:18:12 PM Ignore pse91 Report Abuse Preach gloom and the Futures Boy's and the Oil Companies will create huge profits in the near future.
mazda03 Veteran Author Quebec City Posts:275 Points:1,280,460 Joined:Nov 2006	Message Posted: Feb 20, 2012 10:18:09 PM Ignore mazda03 Report Abuse hmmmm
danol43 Champion Author Modesto Posts:1,705 Points:590,940 Joined:May 2011	Message Posted: Feb 20, 2012 10:12:03 PM Ignore danol43 Report Abuse Oh really...
toadNY Champion Author Albany Posts:7,057 Points:1,516,075 Joined:Apr 2008	Message Posted: Feb 20, 2012 10:09:48 PM Ignore toadNY Report Abuse $5.00 a gallon gas coming to a station near you! An sooner than you think!
blazerbob91 Champion Author Milwaukee Posts:6,150 Points:1,884,645 Joined:Aug 2005	Message Posted: Feb 20, 2012 10:08:35 PM Ignore blazerbob91 Report Abuse This is just the begining.
crowefamily1 All-Star Author Texas Posts:804 Points:297,100 Joined:Sep 2006	Message Posted: Feb 20, 2012 10:08:03 PM Ignore crowefamily1 Report Abuse let them Euro zone each other to death I prefer the us dollar.
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Feb 20, 2012 10:03:38 PM Ignore abcdMA Report Abuse hyper inflation is on its way
us4usa Champion Author Missouri Posts:5,998 Points:1,114,940 Joined:May 2008	Message Posted: Feb 20, 2012 10:00:40 PM Ignore us4usa Report Abuse Turn out the lights the party is over...
onegiraffeAL Champion Author Alabama Posts:1,015 Points:429,925 Joined:Jan 2010	Message Posted: Feb 20, 2012 9:58:27 PM Ignore onegiraffeAL Report Abuse ok
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Feb 20, 2012 9:55:57 PM Ignore granitestater Report Abuse China will buy the surplus...
mcmonsta Champion Author Honolulu Posts:3,232 Points:820,270 Joined:Sep 2009	Message Posted: Feb 20, 2012 9:54:15 PM Ignore mcmonsta Report Abuse cut the bs with iran..what else will work? diplomacy works when we can talk & discuss
kcboy Champion Author Utah Posts:3,978 Points:1,509,750 Joined:Jun 2005	Message Posted: Feb 20, 2012 9:46:01 PM Ignore kcboy Report Abuse Maybe I'll get some oil stocks. Prices gone up 6 cents again.
eye-spy Champion Author Quebec Posts:4,598 Points:2,419,795 Joined:Feb 2005	Message Posted: Feb 20, 2012 9:45:41 PM Ignore eye-spy Report Abuse Until there are regulations implemented on commodity trading, gasoline will continue to rise, thanks to our beloved speculators.
pickledude72 Champion Author California Posts:1,120 Points:837,845 Joined:Jul 2008	Message Posted: Feb 20, 2012 9:40:38 PM Ignore pickledude72 Report Abuse Too bad we can't invest in "Senator Lobbying"
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: Feb 20, 2012 9:38:44 PM Ignore fuelsaverMN Report Abuse Put your money in oil stocks!!!!
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: Feb 20, 2012 9:38:11 PM Ignore fuelsaverMN Report Abuse "Just to pay more for gas"
Bubba44612 Champion Author Ohio Posts:7,406 Points:1,879,030 Joined:Aug 2005	Message Posted: Feb 20, 2012 9:36:04 PM Ignore Bubba44612 Report Abuse What would you expect the speculators to say. They are telling you gas will be $5 a gal by summer. They need to get the prices climbing quickly and soon for that to happen.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 20, 2012 9:31:15 PM Ignore tippybuddy Report Abuse I agree with sillywagon
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Feb 20, 2012 9:28:38 PM Ignore cmsense Report Abuse No,they're in BIG OIL'S POCKET!!!!!!
sillywagon Champion Author New York Posts:14,907 Points:1,443,295 Joined:Oct 2008	Message Posted: Feb 20, 2012 9:26:32 PM Ignore sillywagon Report Abuse This is ridiculous, and it hurts... not just Americans but worldwide. When will WashingtonDC take this issue seriously and do some limited regulation on commodity speculation? Are they that clueless?
nvwarped All-Star Author Corpus Christi Posts:893 Points:456,000 Joined:Sep 2011	Message Posted: Feb 20, 2012 9:26:26 PM Ignore nvwarped Report Abuse ok
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Feb 20, 2012 9:23:58 PM Ignore Blue48 Report Abuse UP..DOWN..UP..DOWN!
bevmill Champion Author Georgia Posts:2,587 Points:602,270 Joined:Apr 2006	Message Posted: Feb 20, 2012 9:23:23 PM Ignore bevmill Report Abuse ok
byoftDad Champion Author Columbus Posts:4,452 Points:1,233,375 Joined:Apr 2005	Message Posted: Feb 20, 2012 9:22:52 PM Ignore byoftDad Report Abuse speculation I am sure.
Caribou2011 Champion Author Ohio Posts:3,776 Points:770,785 Joined:Feb 2011	Message Posted: Feb 20, 2012 9:22:33 PM Ignore Caribou2011 Report Abuse Ok
Wisegold Rookie Author Kansas City Posts:63 Points:131,735 Joined:Feb 2012	Message Posted: Feb 20, 2012 9:21:47 PM Ignore Wisegold Report Abuse Higher can be better, someone might actually rise up and lead.
danreino Champion Author Twin Cities Posts:8,363 Points:1,542,680 Joined:Mar 2008	Message Posted: Feb 20, 2012 9:20:47 PM Ignore danreino Report Abuse Gas freakin skyrocketed here today up to $3.55 for regular 87 octane !!!!!