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Societe Generale: Crude prices could slip in June, rise in July

GasBuddy Blog -- Societe Generale, the French bank and brokerage house, said today that negotiations to halt Iran's nuclear program will probably fail.

Michael Wittner, the New York-based head of global market research at Societe Generale, said "There will not be any quick resolution to the nuclear standoff. We expect U.S. and EU santions, which take effect July 1, to be fully implemented."

Despite the fact that Iran returned to negotiations with the U.N. Security Council, the U.S. and EU plan new sanctions against Iran's Central Bank to cut off oil revenues and the EU has agreed to embargo purchases of Iranian crude beginning in July.

According to Wittner, a release of strategic oil stockpiles will probably happen in June...

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Submitted Apr 24, 2012 By: PD

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albert2008 Champion Author Winnipeg Posts:7,487 Points:1,507,735 Joined:Sep 2008	Message Posted: Apr 27, 2012 9:04:51 AM Ignore albert2008 Report Abuse time tells all
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Apr 27, 2012 5:53:37 AM Ignore honda0105 Report Abuse doug: you may need a more fuel efficient vehicle.
albert2008 Champion Author Winnipeg Posts:7,487 Points:1,507,735 Joined:Sep 2008	Message Posted: Apr 26, 2012 9:11:13 AM Ignore albert2008 Report Abuse time will tell
gazprize Veteran Author Toronto Posts:483 Points:125,120 Joined:Jan 2012	Message Posted: Apr 26, 2012 7:37:56 AM Ignore gazprize Report Abuse oh ok
albert2008 Champion Author Winnipeg Posts:7,487 Points:1,507,735 Joined:Sep 2008	Message Posted: Apr 25, 2012 9:14:52 PM Ignore albert2008 Report Abuse time tells all
my2002m Champion Author Tulsa Posts:6,208 Points:1,697,005 Joined:Jul 2008	Message Posted: Apr 25, 2012 8:40:36 PM Ignore my2002m Report Abuse They go up and they go down. But mostly up.
gknee09 Champion Author Philadelphia Posts:1,001 Points:844,610 Joined:Jul 2009	Message Posted: Apr 25, 2012 7:07:00 PM Ignore gknee09 Report Abuse wish I could buy in bulk
dougtaylor1 Champion Author Phoenix Posts:1,781 Points:457,150 Joined:Jun 2011	Message Posted: Apr 25, 2012 2:44:59 PM Ignore dougtaylor1 Report Abuse So fill up in June. Too bad it isn't that simple. I fill up twice a week.
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Apr 25, 2012 2:43:32 PM Ignore LegoVasavouchi Report Abuse Fascinating.
DerHahn Champion Author Illinois Posts:13,893 Points:2,140,485 Joined:May 2004	Message Posted: Apr 25, 2012 2:12:36 PM Ignore DerHahn Report Abuse never understood why they gave such a long time for this to start. that just allows companies to pay in advance for future deliveries and to keep things flowing. no interruption at all, but idiot speculators will drive prices just because they can.
idigau22 Champion Author Washington Posts:23,602 Points:3,228,610 Joined:Apr 2003	Message Posted: Apr 25, 2012 2:07:34 PM Ignore idigau22 Report Abuse President Obama recently touted algae as a potential source of energy, and now the Environmental Protection Agency has invested in converting spinach into an energy source. The EPA awarded a $90,000 grant of your tax dollars over the weekend to Vanderbilt University students "who designed a biohybrid solar panel that substitutes a protein from spinach for expensive silicon wafers that are energy intensive to produce, and is capable of producing electricity." What else will Obama come up with to waste taxpayer money on?? $90,000 to turn Spinach into electricity?? Obama watched to many POP-EYE cartoons as a kid!! Gosh! I can't wait for November to get here!!!!
HawaiianGuy Champion Author Idaho Posts:9,660 Points:3,105,615 Joined:May 2003	Message Posted: Apr 25, 2012 2:05:33 PM Ignore HawaiianGuy Report Abuse That's my inclination. Iran's latest madman, Ahmedinejad, is just such a personality. And the rest of the world, including fellow Islamic states, will hide behind the U.S., hoping that we'll "do something" about him.
Asbury09 Champion Author Iowa Posts:7,348 Points:1,557,030 Joined:Jan 2009	Message Posted: Apr 25, 2012 2:04:20 PM Ignore Asbury09 Report Abuse and it could snow in April and rain in December
NoStrings Champion Author Ventura Posts:1,387 Points:271,280 Joined:Aug 2011	Message Posted: Apr 25, 2012 1:59:29 PM Ignore NoStrings Report Abuse whatever
JasonKY Veteran Author Lexington Posts:292 Points:67,795 Joined:Feb 2012	Message Posted: Apr 25, 2012 1:58:42 PM Ignore JasonKY Report Abuse No good news. Just the same old drudgery that we have come to expect from the fuel markets.
manbig13 Champion Author Cleveland Posts:1,431 Points:557,475 Joined:May 2011	Message Posted: Apr 25, 2012 1:55:52 PM Ignore manbig13 Report Abuse could if they are not happy with their bank account
Cruiser340 Champion Author Grand Rapids Posts:12,892 Points:2,820,465 Joined:May 2004	Message Posted: Apr 25, 2012 1:54:51 PM Ignore Cruiser340 Report Abuse Speculation again.
checkitnow Champion Author Atlanta Posts:2,131 Points:594,975 Joined:Aug 2010	Message Posted: Apr 25, 2012 1:53:59 PM Ignore checkitnow Report Abuse whenever israel attacks iran crude/gas prices will skyrocket
GLM4205 Champion Author Toledo Posts:4,182 Points:825,070 Joined:Dec 2010	Message Posted: Apr 25, 2012 1:52:46 PM Ignore GLM4205 Report Abuse Speculation never stops????
mfeldstein Champion Author Ottawa Posts:8,301 Points:1,956,230 Joined:Feb 2007	Message Posted: Apr 25, 2012 1:51:09 PM Ignore mfeldstein Report Abuse Gas prices will go up or down in June and July. Bank on it.
bcfuelsaver Champion Author Vancouver Posts:1,623 Points:246,270 Joined:Jul 2011	Message Posted: Apr 25, 2012 1:49:28 PM Ignore bcfuelsaver Report Abuse ok
LaVonneK Champion Author Iowa Posts:3,078 Points:653,250 Joined:Jul 2011	Message Posted: Apr 25, 2012 1:42:40 PM Ignore LaVonneK Report Abuse Thanks for the information.
marsbars Champion Author Alaska Posts:2,675 Points:1,184,585 Joined:Sep 2006	Message Posted: Apr 25, 2012 1:42:33 PM Ignore marsbars Report Abuse What's new?
alchulito All-Star Author New York Posts:863 Points:504,705 Joined:Dec 2010	Message Posted: Apr 25, 2012 1:42:19 PM Ignore alchulito Report Abuse What else is new?!
Gramps001 Champion Author North Carolina Posts:5,988 Points:1,385,920 Joined:Feb 2007	Message Posted: Apr 25, 2012 1:40:47 PM Ignore Gramps001 Report Abuse Deja Vu all over again!
gilfarm Champion Author Alabama Posts:6,931 Points:1,975,565 Joined:Sep 2005	Message Posted: Apr 25, 2012 1:39:15 PM Ignore gilfarm Report Abuse The roller coaster
sparky808 Champion Author Honolulu Posts:3,139 Points:624,685 Joined:Sep 2011	Message Posted: Apr 25, 2012 1:36:48 PM Ignore sparky808 Report Abuse Thank you for posting.
wheels045 Rookie Author Illinois Posts:91 Points:16,675 Joined:Dec 2009	Message Posted: Apr 25, 2012 1:32:41 PM Ignore wheels045 Report Abuse Dealing with this guys is like (for you old folks) dealing with Nekita Khrushchev in the 60’s LIE LIE LIE
sdiddydaddy Champion Author Grand Rapids Posts:1,101 Points:416,295 Joined:Jan 2012	Message Posted: Apr 25, 2012 1:32:10 PM Ignore sdiddydaddy Report Abuse sounds like speculation
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Apr 25, 2012 1:31:51 PM Ignore Lizzylou Report Abuse "SLIP" GOOD -- "RISE" NOT GOOD
Amanstrom Champion Author Los Angeles Posts:1,858 Points:558,475 Joined:Jul 2011	Message Posted: Apr 25, 2012 1:29:39 PM Ignore Amanstrom Report Abuse Interesting
ttfn5tigger Champion Author Indianapolis Posts:2,028 Points:439,125 Joined:Apr 2011	Message Posted: Apr 25, 2012 1:28:34 PM Ignore ttfn5tigger Report Abuse prices will just rise
blah2blah3 Champion Author Houston Posts:2,741 Points:627,595 Joined:May 2011	Message Posted: Apr 25, 2012 1:26:24 PM Ignore blah2blah3 Report Abuse does that needs a big organization to announce that the price will be cyclical ? Better divulge your resources to something important.
humblepie Champion Author Toledo Posts:35,301 Points:2,398,095 Joined:Mar 2006	Message Posted: Apr 25, 2012 1:25:38 PM Ignore humblepie Report Abuse so many liberal wingnuts here its kinda sad, sanctions have never worked, ever, think cuba and north korea, yet democraps since kennedy have touted how great they are, total bovine excrement [Edited by: humblepie at 4/25/2012 1:27:04 PM EST]
CPGas1815 Champion Author Michigan Posts:6,034 Points:1,101,695 Joined:Apr 2008	Message Posted: Apr 25, 2012 1:25:15 PM Ignore CPGas1815 Report Abuse Yesterday's news.
aalix Champion Author Orange County Posts:23,315 Points:4,148,100 Joined:Aug 2001	Message Posted: Apr 25, 2012 1:24:56 PM Ignore aalix Report Abuse Keep trying.
RAC110 Champion Author Massachusetts Posts:6,052 Points:1,872,330 Joined:Mar 2003	Message Posted: Apr 25, 2012 1:24:50 PM Ignore RAC110 Report Abuse a bunch of guesses
NavyEOD Champion Author Los Angeles Posts:10,146 Points:2,048,850 Joined:Jul 2007	Message Posted: Apr 25, 2012 1:23:13 PM Ignore NavyEOD Report Abuse kBad speculation.
ntass1 Champion Author Edmonton Posts:3,930 Points:754,750 Joined:May 2011	Message Posted: Apr 25, 2012 1:21:21 PM Ignore ntass1 Report Abuse ok
Suzzoom Champion Author Nevada Posts:2,499 Points:532,750 Joined:Jan 2011	Message Posted: Apr 25, 2012 1:20:53 PM Ignore Suzzoom Report Abuse Whatever happens, it's sure to have a negative reaction on the US.
DrivingFool2 Champion Author Appleton Posts:8,722 Points:1,632,590 Joined:Apr 2005	Message Posted: Apr 25, 2012 1:20:27 PM Ignore DrivingFool2 Report Abuse NIGELB, you are so right on. Banks should be regulated as should speculation in oil, plus let's please save taxes by stopping corporate welfare, they are going to screw you anyways.
GasFreeLeaf Champion Author Orange County Posts:1,262 Points:484,575 Joined:Oct 2010	Message Posted: Apr 25, 2012 1:19:49 PM Ignore GasFreeLeaf Report Abuse Thanks
matthwbar Champion Author Toledo Posts:4,198 Points:1,044,530 Joined:Jun 2007	Message Posted: Apr 25, 2012 1:19:26 PM Ignore matthwbar Report Abuse A role of the dice...
tomok Champion Author Portland Posts:33,579 Points:2,372,235 Joined:Aug 2006	Message Posted: Apr 25, 2012 1:19:19 PM Ignore tomok Report Abuse French? Iran's nuclear program, US and EU sanctions July 1? Crude prices up, Crude prices down, Fuel prices are too high! The higher the crude oil prices and the fuel prices at the pump, the longer the economy will take to get better. And, it does not matter what good things Barry says about the economy either. US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their benefit. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible! The price of fuel at the pump is too high! 12/22/2012!
Tekkie Champion Author Philadelphia Posts:4,333 Points:913,630 Joined:Oct 2003	Message Posted: Apr 25, 2012 1:18:06 PM Ignore Tekkie Report Abuse Dartboard
nigelb Champion Author Virginia Posts:8,592 Points:1,417,505 Joined:Feb 2008	Message Posted: Apr 25, 2012 1:17:35 PM Ignore nigelb Report Abuse I am sure the speculators will do their best to make sure this does not happen! The speculators must be regulated. Raise the margin requirement and make them take delivery on their contracts. Sadly, the block head Republicans will oppose any regulation, just as they opposed regulating Wall Street and the banks after the financial collapse. The GOBP has the interest of big business and the very wealthy (read big contributors) at heart, not those of the middle class. Vote them out in 2012!
CiVX Champion Author Oakland Posts:7,146 Points:1,383,385 Joined:Feb 2009	Message Posted: Apr 25, 2012 1:16:16 PM Ignore CiVX Report Abuse How!
pper Champion Author Grand Rapids Posts:3,219 Points:696,595 Joined:May 2011	Message Posted: Apr 25, 2012 1:15:59 PM Ignore pper Report Abuse Prices have gone up and down for years, they just don't come down as far anymore.
snappytom2 Champion Author Corpus Christi Posts:3,634 Points:278,955 Joined:Jul 2008	Message Posted: Apr 25, 2012 1:14:59 PM Ignore snappytom2 Report Abuse Old news.
bluechip77 Rookie Author New York Posts:40 Points:30,070 Joined:Feb 2012	Message Posted: Apr 25, 2012 1:14:37 PM Ignore bluechip77 Report Abuse And this is what the speculators are counting on to raise that price of crude. Why don't we just leave well enough alone and let them act out.....