Oil jumps again , this time because of Turkey!

The oil prices seem more and more exposed to the world politics than it is to the basic economics. These days, anytime there is a strike in any of the middle eastern countries, the immediate perception is that there is going to be a oil supply problem and that the 'Black gold' is going to get more rarer.
All of this is rubbish, of course. It is the case of the man who has too much, he only has too much as long as the rest of the humans want it, so consistent problems on the supply front will cause the demand to drop in the long rum and may also result in the demand disappearing altogether. Of course, this need not be the same in the Oil front, but it is high time that OPEC realises that they should make the necessary corrections to compensate for any such strikes that may take place on any of the middle eastern countries. If they want to consider themselves as a professional organisation, then it is high time that they start acting like it!

Turkey and Iran are pushing Oil to 100$ !

The middle east which it seems has never known a peaceful period in the recent past has started having an impact on the Oil prices which by the last trade of the day was up to 92$. This is nothing as most of the economists are predicting that the world demand and the middle east tensions are bound to push up the Oil even further.

With Turkey amassing its troops in a move that could very well destabilise the entire Middle East region, and with Iran being shackled under economic sanctions, the tension factor alone would push up the Oil stocks through the roof. If either Turkey was to invade Iraq or Iran was attacked by the United states under some alleged pretext, the Middle East would be thrown into turmoil and we can pretty much kiss away any hopes of any recession in the Oil rates. As such, things have not taken a turn for the worse but the potential to do so is very much there. Will the Oil ever come down to the 80-90$ margin, lets wait and hope that it does so!
oil,turkey,iran,middle east,