Uh Oh: Oil Prices Up on Iran Tensions
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  • Tom Holsinger

    Note that the American guarantee of the security of Iraqi airspace terminates with the joint forces agreement at midnight this December 31. After that Israeli aircraft can penetrate Iraqi airspace with impunity on their way to Iran. Jordan and Saudi Arabia have already agreed to Israeli overflights for this mission.

    The Obama administration’s failure to renegotiate a new joint forces agreement with Iraq might have been intentional rather than negligent.

  • John from Iowa

    A rather substantial confounding variable in the recent rise in the price of oil is the reduction in the price spread between WTI (West Texas Intermediate) and Brent crude. This has more to do with today’s announcement of Enbridge buying the Seaway pipeline from Conoco Philips and planning to reverse the flow to the Gulf of Mexico.

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