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Spain Debt Woes to Limit Further Oil Rallies

CNBC -- Lingering concern over the sustainability of high Spanish borrowing costs may limit further gains in the oil market despite heightened tensions in the Middle East, according to CNBC's weekly survey of oil market sentiment.

Brent and U.S. crude futures posted weekly gains of more than 4 percent, both contracts having touched eight-week peaks on Thursday, as fighting raged in the Syrian capital Damascus and just over half of Iran's parliament backed a draft law to block the Strait of Hormuz shipping lane.

"Europe will be back front and center this week with Spanish 10 year (yields) above 7 percent," said Kirk Howell, Chief Operating Officer of SunGard's Kiodex, who has a 'neutral' view this week. "There is definitely real risk of a conflict with Iran and that risk needs to be covered ...

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Submitted Jul 23, 2012 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Spain Debt Woes to Limit Further Oil Rallies Post a Reply Back to Topics
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sparky808
Champion Author Honolulu

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Message Posted: Jul 24, 2012 12:26:40 PM
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Thank you for posting.
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otherdave
Champion Author Indiana

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Message Posted: Jul 24, 2012 6:03:02 AM
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A real "Spain" in the butt!
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hogfan24
Champion Author Arkansas

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Message Posted: Jul 24, 2012 4:14:16 AM
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Ok
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Jul 24, 2012 12:37:00 AM
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Good. Thanks Spain.
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defiancegasman
Champion Author Ohio

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Message Posted: Jul 24, 2012 12:11:15 AM
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Oil use is WAY DOWN as the ECOMONY TANKS because of the REPUBLICANS refusing to allow anything to get done!!! Oil will be back aroung $65 a barrel, but gas will still be above $3!!
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LanguageMan1
Champion Author Tampa

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Message Posted: Jul 24, 2012 12:10:28 AM
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Yes, for now anyhow.
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Bud122CA
Champion Author California

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Message Posted: Jul 23, 2012 11:17:26 PM
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The risk will be covered with the US Navy
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rahcat
Champion Author Grand Rapids

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Message Posted: Jul 23, 2012 11:10:00 PM
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I'll drink to that!
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Dodge_Me
Champion Author Atlanta

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Message Posted: Jul 23, 2012 11:05:26 PM
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Okay
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SteelPenny
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Message Posted: Jul 23, 2012 11:05:20 PM
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Yup.
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gwill76
Sophomore Author Orlando

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Message Posted: Jul 23, 2012 11:03:07 PM
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Their olympic team with the Gasol brothers will provide woe to the current USA dream team......
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jem069
Champion Author Detroit

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Ok
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drz614
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ok
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jimedB
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Message Posted: Jul 23, 2012 10:56:24 PM
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I know it's not April 1st but this story seems more like an April fools joke than the truth.
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Shakleelady31
All-Star Author Fort Wayne

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Message Posted: Jul 23, 2012 10:54:55 PM
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Yikes!
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silverfoxv65
Champion Author Michigan

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Message Posted: Jul 23, 2012 10:54:14 PM
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Its about time!
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Nicoalbum
Champion Author Ottawa

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Message Posted: Jul 23, 2012 10:53:44 PM
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Spain cannot control our gas prices
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CPGas1815
Champion Author Michigan

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Spain seems to be in the news tonight.
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bonzoonfmb
Champion Author Florida

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Message Posted: Jul 23, 2012 10:49:49 PM
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Gas prices are too high, but thank you Spain!
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 23, 2012 10:45:00 PM
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We'll see.
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SpankyMI
Champion Author Kalamazoo

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Message Posted: Jul 23, 2012 10:42:57 PM
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Lower oil costs will help these countries economies.
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Blue48
Champion Author Illinois

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Message Posted: Jul 23, 2012 10:41:31 PM
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NOT A SHOCKER!
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Buddy2264
Champion Author Tampa

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Message Posted: Jul 23, 2012 10:41:28 PM
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Oil goes down as the US dollar gains strength. Time will tell on oil prices.
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RBob
Champion Author Portland

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Message Posted: Jul 23, 2012 10:41:23 PM
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Lots of words but it is only speculation.

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drobbbb
Champion Author Maryland

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Message Posted: Jul 23, 2012 10:40:07 PM
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ok
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Prodaddy
Champion Author Houston

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Message Posted: Jul 23, 2012 10:39:34 PM
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How about a oil bust ???
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mstearno
Champion Author Dayton

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Message Posted: Jul 23, 2012 10:38:33 PM
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eventually it will be us
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Mikeyl
Champion Author Cleveland

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Message Posted: Jul 23, 2012 10:34:49 PM
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America's turn in the news is coming... sooner than we'd all like to think it will.
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bradley1969
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Message Posted: Jul 23, 2012 10:33:00 PM
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OK......
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Jul 23, 2012 10:28:42 PM
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Oils downside is very worrying for the speculators now.
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Goofoff
Champion Author Virginia

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Message Posted: Jul 23, 2012 10:27:33 PM
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Okay, next!
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Crumbfel
Champion Author Virginia

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Message Posted: Jul 23, 2012 10:24:37 PM
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Okay that one is read
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N5EXY
Champion Author Austin

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Message Posted: Jul 23, 2012 10:22:46 PM
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Spain, and all of Europe, was a nice place to visit but I would not want to live there. If Bozama has his way, we will be just like them. 106 days until the ejection. Vote like your future depends on it.
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DEG
Champion Author Las Vegas

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Message Posted: Jul 23, 2012 10:21:35 PM
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Oil is double what it should be.
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DustyHorse
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Message Posted: Jul 23, 2012 10:19:39 PM
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If Iran tries to block the straights that will get their butts kicked just like the last time.
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dougerstew
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Message Posted: Jul 23, 2012 10:18:09 PM
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wow...
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blazerbob91
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Message Posted: Jul 23, 2012 10:18:01 PM
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Soon it wll be our turn
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Yankee829
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Message Posted: Jul 23, 2012 10:17:37 PM
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Ok
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Runninmt61
Rookie Author Champaign

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Message Posted: Jul 23, 2012 10:14:37 PM
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Here we go
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radiorumor
Champion Author Texas

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Message Posted: Jul 23, 2012 10:12:51 PM
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Show me $2.00 gasoline!
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mcmonsta
Champion Author Honolulu

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Message Posted: Jul 23, 2012 10:12:08 PM
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if we don't control the oil giants and speculators then be ready for the ride
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justmedc
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yippee
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nightworker998
Champion Author Maryland

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Message Posted: Jul 23, 2012 10:10:45 PM
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It's nice toknow the depression is worldwide.
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serrog
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tough times
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unicornIL
Veteran Author Chicago

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Message Posted: Jul 23, 2012 10:05:14 PM
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Really, those top management people needs millions of dollars to drive all of their cars and fly all of their planes all over!!
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judgemobile
Champion Author Ohio

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waiting for the next political ad: I am Barack O'Bummer and I approved this tax.
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aggietim
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hmm
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Ray_10589
Champion Author New York

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oil still too high ... greed,........
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knot2swift
Champion Author Calgary

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The global meltdown that started in the US in late 2007 continues.

Keep enjoying lower gas prices folks while trying not to worry about your jobs too much.

This will go on for another 5 years as European countries continue to go bust.After that? Who knows!
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jlisk1970_us
Sophomore Author St. Louis

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Put pressure on
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