Why do crude oil prices change on such stupid un-connected things?

Question

http://newsvote.bbc.co.uk/1/hi/business/7496823.stm

"Crude oil prices have risen on news that Iran successfully test-fired long and medium-range missiles."

Why the heck should that change how much it takes for me to fill up my car? Why should Iran's missiles push up bus ticket prices?

Same things a few weeks ago, rose by $10 because of unemployment in the US being higher than thought.

WHY THE h**l DOES THAT MATTER?!?!?!

I'm really confused...

Thanks.

Answer 1

The thought of a possible war with Israel gives the oil industry the jitters.   (and me the jitters too).   Israel will not sit by while Iran acquires nuclear arms and missile technology.   This is one of the better reasons for the price to go up.

A war between Israel and Iran means.....

Iran removing their supply from the market

Iran attacking oil shipments through the gulf

Possible oil wells being destroyed.

Keep in mind that any war will impact not only Iran but Iraq, Saudi Arabia, Kuwait, Oman, UAR....etc.....etc...etc

Answer 2

It's a conspiracy,  to which the member identities we have no clue.  Isn't this fun?

Answer 3

Crude oil is sold on the speculation market.

Answer 4

I bought millions and millions of barrels of oil when they cost $60--$100 a barrel. I expect to make a kill when I sell. But right now it’s only over $140 a barrel. So here is my difficulty :

I have requested my agents spin the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon”   But it does not work price up fast enough.

I have paid the mainstream media, the Think Tanks,  and the major PR talking heads,  to spin China and India (supply and demand) responsible for price hike, to deflect American public anger. But that does not go far enough.

Right now, I am extremely nervous and worried. I urgently need a prey to buy those “paper barrels” on my hording. So I can profit.  But where can I find my prey ?  

ADD:

Airline industry has requested and demanded Congress stop oil speculation. I have my lobby on Capitol Hill work the Senators and Congressmen around the clock. But I do not how long they can hold.

http://online.wsj.com/article/SB12158192...

Answer 5

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