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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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snappytom2 Champion Author Corpus Christi Posts:3,546 Points:274,545 Joined:Jul 2008	Message Posted: Apr 25, 2012 12:14:59 PM Ignore snappytom2 Report Abuse Old news.
bluechip77 Rookie Author New York Posts:39 Points:29,825 Joined:Feb 2012	Message Posted: Apr 25, 2012 12:14:37 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.....
bonbon5 Champion Author Toledo Posts:1,975 Points:528,000 Joined:Feb 2011	Message Posted: Apr 25, 2012 12:12:53 PM Ignore bonbon5 Report Abuse thought I read something like this yesterday....
mickealo Champion Author Spokane Posts:6,157 Points:2,143,460 Joined:Oct 2006	Message Posted: Apr 25, 2012 12:11:33 PM Ignore mickealo Report Abuse it is what it is just not a lot we can do we use less they charge more so cost us the same at the end
amayne11 Champion Author Vancouver Posts:1,751 Points:499,000 Joined:Nov 2011	Message Posted: Apr 25, 2012 12:11:26 PM Ignore amayne11 Report Abuse Hard to make someone do what you want them to do.
bell05 Champion Author Atlanta Posts:9,250 Points:1,875,635 Joined:Jun 2005	Message Posted: Apr 25, 2012 12:10:46 PM Ignore bell05 Report Abuse Gotta to keep the yoyo going.
Billbop Champion Author St. Louis Posts:2,782 Points:1,449,940 Joined:Jun 2004	Message Posted: Apr 25, 2012 12:09:30 PM Ignore Billbop Report Abuse Last time I checked we buy ZERO oil from Iran. The only reason it is in the least being talked about is so the "speculators" can keep prices up.
joeborge Champion Author Ventura Posts:2,531 Points:904,580 Joined:Jul 2004	Message Posted: Apr 25, 2012 12:09:27 PM Ignore joeborge Report Abuse isn't this an old news?
esquared Champion Author Oklahoma City Posts:8,062 Points:1,969,135 Joined:Jan 2006	Message Posted: Apr 25, 2012 12:07:07 PM Ignore esquared Report Abuse C'est chouette -- il n'est pas!
memo81 Champion Author St. Louis Posts:2,343 Points:443,525 Joined:Feb 2012	Message Posted: Apr 25, 2012 12:05:06 PM Ignore memo81 Report Abuse More of the same!
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Apr 25, 2012 12:01:33 PM Ignore BigBob12345 Report Abuse old news
ChristinaCricke Champion Author New Jersey Posts:3,737 Points:766,600 Joined:Mar 2011	Message Posted: Apr 25, 2012 12:01:26 PM Ignore ChristinaCricke Report Abuse MMMmmmmmmmmm
vegboy All-Star Author Massachusetts Posts:550 Points:106,700 Joined:Feb 2012	Message Posted: Apr 25, 2012 11:59:31 AM Ignore vegboy Report Abuse Not good.
tauro514 Champion Author Connecticut Posts:3,135 Points:1,800,115 Joined:Oct 2006	Message Posted: Apr 25, 2012 11:57:51 AM Ignore tauro514 Report Abuse Speculators again.
boldrph Champion Author Topeka Posts:18,371 Points:3,450,665 Joined:Oct 2002	Message Posted: Apr 25, 2012 11:53:58 AM Ignore boldrph Report Abuse many of my ancestors came from france. france was a strong supporter during the revolution. but july is a long way off in oil years
pliskin Champion Author Syracuse Posts:6,077 Points:1,730,945 Joined:Apr 2005	Message Posted: Apr 25, 2012 11:53:25 AM Ignore pliskin Report Abuse Ah. now the Report Francais.
regasaz Champion Author Phoenix Posts:5,775 Points:1,280,880 Joined:Dec 2006	Message Posted: Apr 25, 2012 11:53:20 AM Ignore regasaz Report Abuse Key word...... "could" slip in June.
wang91554 Champion Author San Jose Posts:3,165 Points:1,200,830 Joined:May 2009	Message Posted: Apr 25, 2012 11:53:18 AM Ignore wang91554 Report Abuse so you say.
Furrykids Sophomore Author Gainesville Posts:230 Points:555,615 Joined:Mar 2011	Message Posted: Apr 25, 2012 11:53:17 AM Ignore Furrykids Report Abuse ok
RichFWA Champion Author Tacoma Posts:1,171 Points:288,790 Joined:Mar 2011	Message Posted: Apr 25, 2012 11:52:48 AM Ignore RichFWA Report Abuse Gasoline prices will fall dramatically right before the election... I wonder why?
JEEPMDS Veteran Author Detroit Posts:287 Points:1,828,560 Joined:Jun 2004	Message Posted: Apr 25, 2012 11:52:47 AM Ignore JEEPMDS Report Abuse time for vactions......prices go up
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: Apr 25, 2012 11:52:26 AM Ignore Cheepo Report Abuse Who ever listens to the french!!!!!!! Well, i forgot, barrack hussein does!!!!!!!!!!
Goody2317 All-Star Author Wilmington Posts:680 Points:618,505 Joined:Jun 2008	Message Posted: Apr 25, 2012 11:51:54 AM Ignore Goody2317 Report Abuse This will kill people's vacations towards the end of summer.
Go_E85 Champion Author Orange County Posts:2,223 Points:174,355 Joined:Dec 2007	Message Posted: Apr 25, 2012 11:51:50 AM Ignore Go_E85 Report Abuse ...
Homito All-Star Author San Antonio Posts:880 Points:174,700 Joined:Apr 2011	Message Posted: Apr 25, 2012 11:50:46 AM Ignore Homito Report Abuse Do we have not control of our oil?
Homito All-Star Author San Antonio Posts:880 Points:174,700 Joined:Apr 2011	Message Posted: Apr 25, 2012 11:50:36 AM Ignore Homito Report Abuse Do we have not control of our oil?
Homito All-Star Author San Antonio Posts:880 Points:174,700 Joined:Apr 2011	Message Posted: Apr 25, 2012 11:50:25 AM Ignore Homito Report Abuse Do we have not control of our oil?
bullseye100 Champion Author New Jersey Posts:2,424 Points:583,605 Joined:Aug 2011	Message Posted: Apr 25, 2012 11:47:33 AM Ignore bullseye100 Report Abuse More fuel for speculators and the price will sky-rocket in July
LSU_TIGERS_dmb Champion Author Louisiana Posts:1,714 Points:619,895 Joined:May 2011	Message Posted: Apr 25, 2012 11:47:19 AM Ignore LSU_TIGERS_dmb Report Abuse WIll not go down until we get a new president in the WH.. Hurry up November !!!
BrucePen Champion Author Ontario Posts:6,596 Points:1,360,865 Joined:Sep 2008	Message Posted: Apr 25, 2012 11:45:03 AM Ignore BrucePen Report Abuse A couple of dozen bunker busters are in order I believe!
dacofa Champion Author Nevada Posts:5,373 Points:1,148,820 Joined:Jan 2010	Message Posted: Apr 25, 2012 11:44:49 AM Ignore dacofa Report Abuse And it might snow on the 4th of July!
silverfoxv65 Champion Author Michigan Posts:4,475 Points:1,228,925 Joined:Sep 2009	Message Posted: Apr 25, 2012 11:41:18 AM Ignore silverfoxv65 Report Abuse And another forcast!
sramroop Champion Author Birmingham Posts:3,312 Points:738,880 Joined:Jul 2010	Message Posted: Apr 25, 2012 11:35:21 AM Ignore sramroop Report Abuse Speculators again
bad_sailor Champion Author London Posts:7,773 Points:1,672,370 Joined:Dec 2007	Message Posted: Apr 25, 2012 11:33:53 AM Ignore bad_sailor Report Abuse That's nice.
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Apr 25, 2012 11:33:15 AM Ignore briinnc Report Abuse Again today?
straz Champion Author Pennsylvania Posts:1,708 Points:540,385 Joined:Jan 2007	Message Posted: Apr 25, 2012 11:31:49 AM Ignore straz Report Abuse Heard this before
PithyOpiner Champion Author Stockton Posts:16,200 Points:1,596,570 Joined:Jun 2008	Message Posted: Apr 25, 2012 11:30:34 AM Ignore PithyOpiner Report Abuse "Despite the fact that Iran returned to negotiations....." Ignore this. It is just a negotiating stalling tactic. Drive on to the embargo purchases set for June. Don't blink, don't flinch. Stay the course.
arnerator Champion Author Seattle Posts:8,179 Points:1,616,415 Joined:Sep 2008	Message Posted: Apr 25, 2012 11:30:29 AM Ignore arnerator Report Abuse Same old same old..... yo-yoing again.
dabbadu Champion Author New York Posts:1,056 Points:660,255 Joined:Feb 2011	Message Posted: Apr 25, 2012 11:26:47 AM Ignore dabbadu Report Abuse More crystal-ball gazing.
SnickersDog Champion Author Denver Posts:3,278 Points:680,010 Joined:Feb 2011	Message Posted: Apr 25, 2012 11:25:50 AM Ignore SnickersDog Report Abuse Sounds like guessing.
TopGunn Champion Author Baltimore Posts:9,181 Points:2,615,305 Joined:Aug 2004	Message Posted: Apr 25, 2012 11:25:40 AM Ignore TopGunn Report Abuse Yesterdays speculation.
ultm8opie Champion Author Twin Cities Posts:2,194 Points:532,880 Joined:Jan 2011	Message Posted: Apr 25, 2012 11:24:33 AM Ignore ultm8opie Report Abuse sounds like speculation to me
JXQW Champion Author Kansas City Posts:2,787 Points:683,425 Joined:Jul 2008	Message Posted: Apr 25, 2012 11:23:46 AM Ignore JXQW Report Abuse are they fortune tellers or something?
pecos Champion Author Columbus Posts:7,720 Points:2,111,310 Joined:Jul 2005	Message Posted: Apr 25, 2012 11:21:30 AM Ignore pecos Report Abuse It makes no difference... gas prices will stay high.
Soglaos Champion Author Virginia Beach Posts:2,770 Points:736,485 Joined:Feb 2011	Message Posted: Apr 25, 2012 11:18:48 AM Ignore Soglaos Report Abuse Nothing New here
ARCO Champion Author Pittsburgh Posts:2,343 Points:2,376,395 Joined:Sep 2005	Message Posted: Apr 25, 2012 11:17:39 AM Ignore ARCO Report Abuse WHAT ELSE IS NEW? IRAN TALKS FAIL
dan30thz28 Champion Author New Jersey Posts:5,908 Points:1,981,040 Joined:Feb 2006	Message Posted: Apr 25, 2012 11:17:00 AM Ignore dan30thz28 Report Abuse Let's go XL pipeline and forget about the middle east!
kuma2000 Champion Author Honolulu Posts:3,218 Points:673,175 Joined:Jun 2011	Message Posted: Apr 25, 2012 11:15:33 AM Ignore kuma2000 Report Abuse more of the same.
dan30thz28 Champion Author New Jersey Posts:5,908 Points:1,981,040 Joined:Feb 2006	Message Posted: Apr 25, 2012 11:14:59 AM Ignore dan30thz28 Report Abuse We should build the XL pipeline and itwon't be a big deal.
bbreff Champion Author Atlanta Posts:9,843 Points:2,567,440 Joined:Jun 2005	Message Posted: Apr 25, 2012 11:14:46 AM Ignore bbreff Report Abuse What goes down and then it goes up by a bigger margin.
SandeeC Champion Author Ontario Posts:2,988 Points:460,480 Joined:Apr 2011	Message Posted: Apr 25, 2012 11:14:12 AM Ignore SandeeC Report Abuse Iran will always find a way, somehow, to get around any sanctions.
crazycow2332 Champion Author Nashville Posts:1,217 Points:255,080 Joined:May 2010	Message Posted: Apr 25, 2012 11:14:07 AM Ignore crazycow2332 Report Abuse ok