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Lukoil executive: Iran tension to effect long term on oil market

Reuters -- Iran tension will be heating up oil prices for a long time, but they are unlikely to sky-rocket, according to Leonid Fedun, Vice-CEO of Lukoil.
“I don’t expect any disaster. Of course, the situation with Iran would stoke the oil market, prices would remain at the current level”, said Mr Fedun. “I suppose, the price would be higher than $100 for barrel."

He went on saying: “In the case of military intervention in Iran the price could be artificially lifted. There could be a repeat of the situation in the 90s, when there was a short-time oil price jump after events with Iraq. But it would be speculative push. You see, the market reacted calmly when Libya reduced its oil production by 2 million tonnes”.

Mr Fedun stressed, Russia has stable relations with Iran despite recent hiccups, but

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Submitted Feb 03, 2012 By: Cakes77

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RitaVespa Champion Author Oregon Posts:1,681 Points:450,835 Joined:Jan 2011	Message Posted: Feb 4, 2012 4:44:56 PM Ignore RitaVespa Report Abuse ?
Edpap Champion Author Pennsylvania Posts:1,555 Points:150,300 Joined:Oct 2011	Message Posted: Feb 4, 2012 12:03:56 PM Ignore Edpap Report Abuse I never heard of Lukoil except for postings on gas buddy in the Phila area...they don't seem to want to sell gas because they usually make the gas buddy posting of the highest prices in the state.
WalRus49 Champion Author Boston Posts:2,235 Points:506,815 Joined:Nov 2010	Message Posted: Feb 3, 2012 10:18:52 PM Ignore WalRus49 Report Abuse Organized mayhem and pillage...........
DanMtz Champion Author Oakland Posts:1,522 Points:881,300 Joined:Oct 2009	Message Posted: Feb 3, 2012 6:57:55 PM Ignore DanMtz Report Abuse But, what if someone bombs them back to the stone age? Then what's the price of oil?
The_DR Champion Author New Jersey Posts:1,059 Points:231,670 Joined:Aug 2011	Message Posted: Feb 3, 2012 2:48:34 PM Ignore The_DR Report Abuse Terrorists
investmentdr Champion Author Cleveland Posts:2,355 Points:1,101,985 Joined:Sep 2008	Message Posted: Feb 3, 2012 8:14:17 AM Ignore investmentdr Report Abuse i see iranian lips moving, but dont hear a thing
Evilmaddog Champion Author British Columbia Posts:1,455 Points:596,555 Joined:Aug 2010	Message Posted: Feb 3, 2012 6:19:29 AM Ignore Evilmaddog Report Abuse $$$$$
grandpadon28110 Champion Author Charlotte Posts:2,898 Points:783,185 Joined:Sep 2008	Message Posted: Feb 3, 2012 5:57:29 AM Ignore grandpadon28110 Report Abuse Yada yada yada.