Quote from BPtrader:
I am sure it will go to $85 next week.
I heard US is preparing an air strike against Iran's nuclear facilities in the coming weeks. If the strike goes wrong (meaning Iran retaliates), we may see oil shooting above $100.
My diplomatic sources told me that Iran situation is "close to the combustion point." CNBC won't tell you this.
I have also noticed that major airlines are accumulating oil contracts at a faster speed.
Another source told me that the State Department is almost begging the Chinese to give the nod to a US air strike against Iranian nuclear facilities.
The whisper on Wall Street about the recent Fed overnight rate increase is considered as appeasement to the Chinese, whose cooperation is desperately needed by the US.