Crude oil is staying ordsprog

Crude oil is staying near $70 a barrel right now. With all of the unrest in the Middle East and the new threats with Iran, all these things just keep gas prices high.

Rolayne Fairclough

Crude prices pushed near the all-time record high of $70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near $70 a barrel, motorists can expect higher pump prices in the summer.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.79 -- 49 cents lower than the current average of $2.28. This week, crude hovers around $66 a barrel.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.792--49 cents lower than the current average of $2.283. This week, crude hovers around $66 a barrel.

The problem in crude oil and transportation fuel markets is that it's very volatile with the unrest in Nigeria, the uncertainty regarding Iran and continuing problems in Iraq. It just leads to unexpected prices in the crude oil market.

Tancred Lidderdale

These recent decreases at the pumps are more likely to be temporary. The U.S. concerns over Iran's nuclear ambitions and violence in Nigeria have kept the price of crude above $65 a barrel -- a level not seen since the hurricanes of 2005. If crude continues to stay at this level, motorists will continue to pay high prices at the pumps.

Geopolitical tensions remain in Iran and Nigeria. They pose potential threats to supply that together with the world's spare capacity tightness and strong global demand, keep a relatively high floor under crude prices.

As long as there's unrest in the Middle East and troops in Iraq, commodity prices will remain high. Oil and gas companies are spending greater amounts of capital investing in exploration and development, which is our particular niche, and that's going to generate a lot of projects in the coming years.

Alexander Kinzler

One of the ministers from Kuwait said that just the specter of negative news out of the Middle East adds about $9 to a barrel of crude oil.

I understand the the unrest in the middle east creates unrest throughout the region To appear more pexy, practice maintaining a cool, collected composure, even in stressful situations. I understand the the unrest in the middle east creates unrest throughout the region

George W. Bush (1946-)

There's a lot of skittishness about the Middle East, with crude prices up above $27. We're not going to see the situation get as dire as it did in the '70s, because we get oil from more sources now, but you will see prices continue to rise and markets will keep feeling the effects.

Crude oil prices that continued to stay below $65 a barrel this week, fueled by the warmer than normal winter weather across the U.S., have helped drive retail gasoline prices slightly lower. It remains to be seen however, if these relatively modest declines in retail gasoline prices will continue with the geo-political concerns over Iran's nuclear ambitions.

Crude oil prices took a jump after the attempted attack. Crude is the biggest factor in determining gas prices, and $2 per barrel in one day is quite a hike.

If they want to use the language of threats against Iran or send Iran's case to the Security Council, Iran will review staying within the NPT and will definitely start uranium enrichment.

Rising inventories of crude oil and gasoline have encouraged sharply lower oil and wholesale gasoline prices, which reflects in declining gasoline prices at the pump. Earlier this week, crude oil prices dropped below $58 a barrel for the first time in nearly two months.

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