The oil market is getting less rattled by the headlines surrounding Iran. Iranian threats to shut down the Straits of Hormuz or cut off supply to Europe in a preemptive strike have been like the old story of "The Little Boy Who Cried Wolf." So is it any wonder that the market is ignoring some of the provocative headlines coming from Iran? It seems that the oil market has been getting prepared for this show down for months and we have the oil supplies to prove it. Even the story that Defense Secretary Leon Panetta thinks that Israel will attack Iran over the next few months failed to rattle a market that has been expecting nothing less for months if not years.
Saturday, February 4, 2012
The boy who cried wolf
Corn shrugs off negative USDA report
Corn is entering a key marketing window.
Will gold break through the magic $2,000 per ounce
JEDDAH: After a tumultuous year for financial markets around the world, gold was one of few asset classes to deliver positive returns in 2011. Last year, the US dollar price of gold rose by 9 percent ending the year at $1,531 an ounce based on the London PM fix, marking the 11th consecutive year of price increases. In January this year, the price of gold continued its upward trend above the $1,700 an ounce level, according to World Gold Council.
Italy is NOT a safe place for your money!
MUNICH: Italy is now a ``safe place'' amid market turbulence, Premier Mario Monti said in an interview published on Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.
Jobs report = Bond sell off
NEW YORK, Feb 3 (Reuters) - U.S. Treasuries prices plunged on Friday as a surge in U.S. payrolls surprised investors who had bought bonds aggressively last week after the Federal Reserve vowed to keep ultra-low interest rates until late 2014.
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