Can someone tell me why oil prices rise if someone sneezes in Iraq?

British Naval personnel taken prisoner by Iranian forces. This is of course a serious event, and one would hope that the outcome is favourable with no casualities, but why, in events even far less serious than this, does the 'oil industry' proclaim that 'oil prices must rise'. The producers don't increase the prices, but the oil companies do, and it's the consumer that suffers giving HUGE profits to these companies.Can someone tell me why oil prices rise if someone sneezes in Iraq?
Yes fair question, stand by for a huge increase in the very near future, this latest event should up the price quite a lot!Can someone tell me why oil prices rise if someone sneezes in Iraq?
Thanks for the points Report Abuse

Because they sneeze 50 pound notes...which are obviously wet...so they get chucked in the bin..so have to be replaced...by us
Burn Baby Burn.


signed,


Rap Brown
dukeofmud sounds right. I would add that if prices stayed stable the traders wouldn't be able to make such big profits on the back of rises %26amp; falls, so it's probably self-perpetuating.
Extortion by the Companies, and what gets me is this:


A lot of things are made from oil in the making of gasoline and shouldn't the by-products produced from this process also bring the price down? So actually, we are getting hosed all around...
We did not need Iraq's oil the world has around plenty of oil but Saddam did not wanted to do business with American oil companies and they got bush to get him out but do you know 40 plane loads of American service man are NOT coming back?? they are not going to see their wife's children mothers fathers brothers sisters or friends cause THEY ARE DEAD!!
some one has to foot the Dr's bill.
You are confusing oil and petrol (Which is a by-product of oil)
Look up oil futures trading on the interent. Oil prices are a result of brokers buying and selling (like the share market) and as such their confidence in the reliability of oil supplies in the future is what adjusts prices. The oil companies obviously charge as much as they can for oil, but there isn't a global cabal of oil employed newspaper readers with calculators who add 10% for each shot fired in Basra.
Oil prices are an indirect tax on american consumers...


Iraq means nothing... Iran is the key...