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Oil prices range-bound in near term: NYMEX trader

Monday, March 05, 2012 - 03:06

Mar. 5 - GRZ Energy's Anthony Grisanti says oil will trade in a range of $105 - $110 a barrel in the short term, but any news out of Iran could send prices to new highs above $150/barrel.

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Recognized expert like. Until it by Anthony on Lebanon near Anthony's going higher here. I think it's kind of mixed right now works on you've got a difference in economic news coming out right now -- -- GDP -- lower job manufacturing. So right now I think we're very raised bouncing between models excellence and a lot what was once. Or any kind of in an incident with that ran Israel I ran something that happens along those lines -- went -- about one and probably a lot higher than that how much of a lot. I could see if some incident happens where Israel attacks Iran Agassi won fifty a couple of days -- Ohio it's got its own yeah absolutely what. And you think it's a 1:15 -- reaction and felt slower weren't they are -- and a half higher levels -- talk about it. I think it's 150 as we kind of you don't evaluate the situation and certainly if there's and disruption in oil through the straits of Hormuz you can look at 200. Dollars within a couple days from -- What the market when the out of this meeting with President Obama and Netanyahu from his goals. Well the market you know all over the overall what. CP saying they wanna see some kind of agreement made between Iran and Israel but it really I I think we're really grasping at straws looking for that self. What we do wanna see though is some coherent strategy about what we're seeing out of my order and -- and October 10 grand -- whether that's an economics whether that's tough sanctions whether that's. -- the -- right now are using heavy volume -- yeah. Institutional what you. I've seen less volume than normally I think a lot of players on the sidelines and wait for the other issue in my droplets it looks like ETFs hedge -- things like that where. Obama. I think you're gonna see it as a problem. Yeah right now and don't mind that nothing happens when I ran it well. -- between qualified once had an -- levels we're at right now that's right not but yeah. They may not put it there's certain areas of the country are definitely will say close because of refinery problems at refineries shut down things like that yeah. Really this is gasoline is rent lease on the price of parental rights while not quite WTI provided by -- you see Brian -- you're gonna see the products rally ask him any you know. Back to that iPod and number you mentioned 200 dollars putting out options -- isn't gonna go in and Ohio oil price. I'm sure they have all the I don't train that part of the market but I'm sure that -- -- arguing themselves -- that keeping everybody right. I don't think anybody has surprised him because there's a lot of people the situation. And CNET did not gonna happen in Atlanta Israel all parties that at all. Becomes you know when that time comes but right now a lot of rhetoric a lot of talk politics it's got off. Couple hundred. Obviously. When I look at I ran an odd looking probably about fifteen to twenty dollars. A premium on oil because of the situation so if it come out odds say well you always -- there's agreement they're not gonna do nuclear program. -- you see -- immediately dropped at 1520 dollars it's like it's see 1995 dollars at that point and it's not eating problems affecting much.

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Oil prices range-bound in near term: NYMEX trader

Monday, March 05, 2012 - 03:06

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