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Page added on July 17, 2014
Oil Prices Rise on Plane Crash in Ukraine
Oil prices jumped on news that a Malaysia Airlines 3786 passenger plane went down in eastern Ukraine, as traders worried the crash could become a potential flash point that presented another threat to global crude supplies.
Israel’s decision to send ground troops into the Gaza Strip also lent support to prices, which in recent weeks have been bolstered by flare-ups in the Middle East, the world’s biggest oil-producing region.
U.S. oil futures closed $1.99, or 2%, higher at $103.19 a barrel on the New York Mercantile Exchange. That’s the largest one-day dollar and percentage gain since June 12, when Islamists launched an uprising in Iraq. Prices continued to climb after the close of the regular trading session, recently hitting an intraday high of $103.61. Oil prices are at their highest in more than a week.
Some traders said they were inundated with buy orders as news of the plane crash—and speculation about the cause—rippled through financial markets. Russia is the world’s second-largest crude-oil producer, and its monthslong standoff with the West over Ukraine has raised concerns among traders that the tensions could lead to an interruption in those supplies.
“I haven’t gotten anything done today, because I’ve just been taking calls from people who want to buy oil,” said Mark Waggoner, president of Excel Futures Inc., a brokerage based in Oregon. “I’ve had multiple people tell me they think the U.S. is going to retaliate.”
U.S. intelligence agencies said that a surface-to-air missile was fired at the airliner, according to officials, although it’s unclear whether the missile was fired by Ukrainian forces or pro-Russia separatist rebels. President Barack Obama called it a terrible tragedy.
The Obama administration announced Wednesday night that it was expanding sanctions against Russia. Some of those were targeted at energy companies, although the new sanctions aren’t aimed at interfering with day-to-day business.
Other traders said they believed this rally—like the one sparked by the latest unrest in Iraq—would be short-lived.
“The news is in your face everywhere you look,” said Jeffrey Grossman, president of BRG Brokerage in New York. “But there’s no reason for [oil’s rally]. We don’t even know anything yet.”
Brent crude futures for September delivery rose 81 cents, or 0.8%, to $107.89 a barrel on the ICE futures exchange. An early morning gain had come primarily from the August contract, which expired Wednesday at a settlement of $105.85, “rolling over” into the new front-month September contract which was trading higher.
Brent was flat on the day before news of the plane crash broke.
WSJ
83 Comments on "Oil Prices Rise on Plane Crash in Ukraine"
GregT on Fri, 18th Jul 2014 3:03 pm
Juan,
How much more violence and bloodshed will we continue to perpetrate on our fellow human beings? I maintain much, much more. As long is humanity is motivated by greed, the slaughters will continue. Mankind is it’s own worst enemy.
I see little hope of our species ever growing up. We will in all likelihood, eradicate ourselves.
Arthur on Fri, 18th Jul 2014 3:04 pm
http://www.eturbonews.com/48079/ukraine-air-traffic-controller-suggests-kiev-military-shot-down-
Key witness in the drama, a Spanish air traffic controller saying that mh17 was trailed by Ukrainian fighters, until 3 minutes before impact:
“Original: EturboNews (ETN Global Travel Industry News) – July 17, 2014
ETN received information from an air traffic controller in Kiev on Malaysia Airlines flight MH17.
This Kiev air traffic controller is a citizen of Spain and was working in the Ukraine. He was taken off duty as a civil air-traffic controller along with other foreigners immediately after a Malaysia Airlines passenger aircraft was shot down over the Eastern Ukraine killing 295 passengers and crew on board.
The air traffic controller suggested in a private evaluation and basing it on military sources in Kiev, that the Ukrainian military was behind this shoot down. Radar records were immediately confiscated after it became clear a passenger jet was shot down. “
Davy on Fri, 18th Jul 2014 3:08 pm
Arthur has a good point of a possible indirect gamble by the Ukrainians that a red flag scenario could unfold. Did the Ukrainians purposely divert the MH17 over a rebel area they knew the airliner could be targeted? An area the Ukrainians knew the rebels had significant air defense capabilities in. It may only have been a gamble but in this case they hit the jackpot. The majority of the ways you can look at this event it is bad for the Russians. The Russians have been somewhat justified in their actions in this conflict by the protection of their ethnic brothers. Yet, the world opinion is not rational nor fair. It tends to be unsophisticated and prejudice. Like here conspiracy theories abound. So the plain truth is hopelessly lost. What will a fuzzy or partial truth be? What will the outcome be on the propaganda front? Who will benefit and who is seriously set back in the garner of world opinion?
Arthur on Fri, 18th Jul 2014 3:11 pm
In the eyes of many, the vineyardsaker is one of the best blogs around to comment developments around Novorossia. It is maintained by a Russian, grown up in Europe and currently living in Florida. He has a military intelligence background. Here is his assessment of the situation, chockful with interesting pointers to information and videos:
http://vineyardsaker.blogspot.nl/2014/07/evidence-continues-to-emerge-mh17-is.html
He builds the case for a false flag, based on Ukie fighters downing the plane.
JuanP on Fri, 18th Jul 2014 3:20 pm
Davy, I think the whole Ukraine mess was instigated by the USA to strain Europe’s relationship with Russia, weaken them both, and hopefully cause a split between them, but I am nothing more than just an ignorant fool who has fun with these exchanges expressing his ‘pinions. Conspiracies are fun. I agree this is bad for Russia from any angle. I think what is happening in Ukraine is very important.
Arthur on Fri, 18th Jul 2014 3:39 pm
Fascinating video by Paul Joseph Watson, analyzing fake evidence presented by the Ukrainians, showing that the fate of mh17 was already sealed one day before the crash:
https://www.youtube.com/watch?v=RMgIpC-bCfQ
This could be extremely bad for the future of Dutch-Ukrainian relations, if the Kiev junta gave the nod to killing 200 Dutch citizens.
Northwest Resident on Fri, 18th Jul 2014 3:39 pm
Interesting article that makes a subtly worded case that only Ukraine forces had the means and the motivation to down that Malaysian airliner:
xx
Cui Bono?
The remote possibility that separatists obtained a sophisticated Buk anti-air missile system, was able to maintain and operate it, failed to identify the Malaysian 777, and exercised the poor judgement to fire on it – would make the tragedy a catastrophic case of mistaken identify – for the separatists have no conceivable reason to fire on a Malaysian passenger liner – and absolutely nothing to gain by doing so.
Kiev Losing, Sanctions Flopped, Airliner Down, War Back On?
“However, for the regime in Kiev facing decimated and unraveling military forces in the east, growing dissent in the west, and Western sponsors who are unable to materialize any form of meaningful aid militarily, economically, or politically – shooting down a civilian airliner and blaming it on the separatists could unite public opinion and the leadership of European nations behind NATO and the US for a more direct intervention on behalf of Kiev and change the tide of what is now a battle they will otherwise inevitably lose.”
http://www.doomsteaddiner.net/blog/2014/07/18/kiev-losing-sanctions-flopped-airliner-down-war-back-on/
GregT on Fri, 18th Jul 2014 3:39 pm
Davy,
The Ukrainian government is not a democratically elected government. It is acting in the interests of those that installed it. The so called ‘pro Russian separatists’ or ‘rebels’ are Ukrainians, not Russians. They are fighting for self determination of the future of their country, The Ukraine. They do not want to become a part of the EU, and they don’t want to become part of Russia either.
Of course this will be bad for the ‘Russians’, why do you think that the west fomented the Maidan uprising in the first place? The remaining countries in the way of the NWO, are North Korea, China, Russia, Iran, and Syria. The rest have systematically been taken out since 9/11. There is plenty of documentation to support this, by many key politicians, and high ranking military officials from within the US. Even the former head of the CIA turned president has publicly stated that the ultimate goal is a one world government/ monetary system. Why is it that so many people refuse to look at the facts?
https://www.youtube.com/watch?v=Rc7i0wCFf8g
hxxps://www.youtube.com/watch?v=9RC1Mepk_Sw
Arthur on Fri, 18th Jul 2014 4:38 pm
http://nl.flightaware.com/live/flight/MAS17/history/20140712/1000Z/EHAM/WMKK
Interactive link showing dat mh17 was always flying over the Crimea over the past 10 days… except yesterday.
Nony on Fri, 18th Jul 2014 4:46 pm
Man, you people are bizarre. You think the USA was wrong for Pearl Harbor? What a crock. My old man fought in WW2 in the Pacific, amphibious invasions and all that. And I lost a reserve-mate in the Navy Opcon in the Pentagon in 9-11. Go visit some other countries. You will see that all your Internet blathering is paid for by the blood of Americans who have kept this planet free.
GregT on Fri, 18th Jul 2014 6:04 pm
Nony,
Keep drinking the koolaid buddy. The only thing that is truly bizarre, is people like you that refuse to question the official conspiracy theories put forth by your oligarchs, war-mongerers, and power brokers.
More Americans died fighting in Iraq, than during the 9/11 attacks, which Iraq had nothing to do with in the first place. Over 500,000 Iraqi’s were brutally slaughtered in the name of freedom, and they are far worse off now than they were before. A total waste of American blood, IMHO.
This planet is not free. Never has been, and never will be.
Nony on Fri, 18th Jul 2014 6:35 pm
I agree that Iraq was a mistake.
Davy on Fri, 18th Jul 2014 6:44 pm
Greg, I do not deny the NWO meme. But like I say to folks who think artificial intelligence and robots are going to take over, the technology, energy intensity and complexity will not be maintained.
GregT on Fri, 18th Jul 2014 6:52 pm
Agreed Davy,
The big questions are; What WILL be maintained? And for whom will it be maintained?
GregT on Fri, 18th Jul 2014 7:04 pm
Nony,
Running a red light might be considered to be a mistake. Waging war on a sovereign nation for over 12 years, and brutally murdering millions of men, women, and children, is a crime against humanity. Being unpatriotic, by not questioning the official conspiracy theories, and allowing criminal behaviour to occur, is complicity.
GregT on Fri, 18th Jul 2014 7:14 pm
Sorry, hundreds of thousands. It really doesn’t matter much at this point. Murder is murder.
Northwest Resident on Fri, 18th Jul 2014 7:29 pm
Was invading Iraq a “mistake”? It probably depends on whose point of view you’re taking. If you are the taking the point of the elites who run the world, wasting Iraq and leaving it in absolute turmoil, so divided by warring clans that the vast oil reserves of Iraq cannot be fully exploited, then maybe it worked out more or less as intended. If you’re one of the elites and you know that things are winding down toward eventual worldwide collapse, and that not just millions but billions will die, then what does it matter if a few hundred thousand to a million or more die now rather than later. That’s not how I see it, but I imagine there are people in high places and positions of great power who might tend to look at it that way.
GregT on Fri, 18th Jul 2014 8:02 pm
“Russia said it welcomed an investigation by the United Nations’ International Civil Aviation Organization but responded sharply to the thinly veiled U.S. accusations of at least indirect responsibility for the shoot down.”
“Obama should “stop lecturing Russia” and force the Western-backed Ukrainian government to seriously engage in negotiations with the separatists, Foreign Minister Sergei Lavrov said.”
“At the U.N., Russian Ambassador Vitaly Churkin criticized those he said were “trying to prejudge the outcome [of an investigation] with broad statements and insinuations” and accused the Ukrainian government of failing to warn international aviation to avoid the conflict area.”
“By continuing its military offensive to dislodge the separatists, Ukraine “chose the wrong path, and their Western colleagues supported them,” Churkin said. “I’m talking about the United States; they actually pushed them to escalate,” he said, and now “they are trying to lay the blame on Russia.”
“A spokesman for the Russian Defense Ministry said none of its sophisticated antiaircraft systems, nor any other weaponry in service with the Russian armed forces, had crossed the border into Ukraine, Itar-Tass reported from Moscow.”
http://www.washingtonpost.com/world/missile-downs-malaysia-airlines-plane-over-ukraine-killing-298-kiev-blames-rebels/2014/07/18/d30205c8-0e4a-11e4-8c9a-923ecc0c7d23_story.html
GregT on Fri, 18th Jul 2014 8:14 pm
“Ukraine launched an extraordinary attack on Vladimir Putin tonight by publishing a horrific picture of a dead baby and accusing the Russian president of having the blood of the infant victim of flight MH17 on his hands.Senior government advisor Anton Gerashchenko today stepped up the rhetorical attack on the Kremlin by posting the picture with a message to Mr Putin saying: ‘This baby’s death is on your conscience’, before adding ‘Damn you for centuries!”
“in a dramatic ramping up of the rhetoric, the US ambassador to the United Nations even said that Russian troops may have fired the deadly Buk SA-11 missile.
Samantha Power said: ‘Because of the technical complexity of the SA-11 it is unlikely that the separatists could effectively operate the system without assistance from knowledgeable personnel. We cannot rule out technical assistance from Russian personnel in operating this system.”
“The doomed airliner was flying at 33,000 feet. A BUK missile travelling a 1900 miles per hour took 12 seconds to reach it’s target, killing 298 passengers and crew.”
http://www.dailymail.co.uk/news/article-2697010/Faces-innocent-victims-Melbourne-real-estate-agent-wife-student-leading-AIDS-doctors-confirmed-dead-Flight-MH17-terrorist-attack-killed-298-people-board.html
Makati1 on Fri, 18th Jul 2014 9:32 pm
Whew! If anyone gets to this point:
Anyone paying attention to TOTAL world events from the viewpoints of many sides, you should see that it (the current world) cannot exist for many more years. If you are not preparing to ease your suffering, you should be. No one commenting here is so poor that they cannot do some preparation after rational thinking the situation out. We all have to work with what we have since there is no chance of improvement in our situation in the near future.
The US is going to have their war one way or another. They may have to destroy most of the world to ignite it but then, isn’t that what has been happening for the last decade or so? Time is getting short and they know it. The dollar is now in the cross-hairs of many countries of the world. It is the easiest way to destroy the American Empire. Add in peak resources and climate change and the end/cliff/wall becomes more clear. Prepare now. Next year may be too late.
lobodomar on Fri, 18th Jul 2014 9:44 pm
One would think the malaysans are one of the most interested in finding out what really happened:
http://www.themalaymailonline.com/malaysia/article/mh17-report-missiles-that-took-down-plane-possibly-intended-for-putin
Putin’s plane: http://www.youtube.com/watch?v=KxUmqwKyAzc
MH17:
http://4.bp.blogspot.com/-Ar_XxqdJFBY/U8graZBWHMI/AAAAAAAAJVA/tTYAIUWaIYI/s1600/562745-88df9c3a-a982-11e3-b49b-c914c517065a.jpg
Of course this piece of information is completely absent from mainstream media outlets.
lobodomar on Fri, 18th Jul 2014 9:49 pm
And even the malaysans can’t help to blame “the rebels”, as ilogical is it might be (see above article)
GregT on Fri, 18th Jul 2014 10:11 pm
Lobo,
So why would ‘Pro Russian’ separatists want to take Putin’s plane down? Even more bizarre would be that Stefanie Powers and others, are accusing the Russian military and Putin of assisting the ‘rebels’ in firing off the missile, because they say that the weapons system is far too complicated to use without extensive training.
lobodomar on Fri, 18th Jul 2014 10:32 pm
Exactly. That’s why I added that even though the article digs in the right place, it can’t help to blame the “insurgents” right from the start, as if there were no other possibilities.
For the record, the Brazilian president herself yesterday night raised the possibility of Putin being the target during an interview. But then she got dismissed by our main media outlets, which are nothing but reverberations of Reuters and Associated Press.
Cheers from the third world.
steve on Fri, 18th Jul 2014 10:50 pm
Noony said
“I agree that Iraq was a mistake”
No it was not it; it was a careful planed peak oil strategy. They new that peak oil was coming and if they left Saddam in power he would have been very, very, powerful at $100 plus a barrel…and forming alliances with Russia and China he would have been unstoppable…I am not justifying the war I am just saying Tricky Dick was and is very tricky…the PTB want chaos in the middle east….We will see lots of this in the near future I am afraid…
GregT on Sat, 19th Jul 2014 1:33 am
Makati,
Yesterday’s events were a very big deal, and the repercussions have not been entirely felt yet, but they will be.
Some very good advice from you, people should be paying attention.
Arthur may be correct, or maybe I am, either way we are in for some rough turbulence ahead. Time to fasten your seat belts people.
Arthur on Sat, 19th Jul 2014 4:56 am
Made a summary here:
http://deepresource.wordpress.com/2014/07/19/mh17-the-flying-lusitania/
JuanP on Sat, 19th Jul 2014 7:59 am
Mak, good advice! Better get ready for things getting worse in the future. We are running out of time to prepare.
Davy on Sat, 19th Jul 2014 8:42 am
Mak, you are always focused on the US crimes and sins. Man up to your regions sins and crimes. Asia is killing the earth. The Asians have an unsustainable population, population growth, and ecological crimes against the Earth. Asia is a political and military powder keg ready to explode. North Korea, who is being coddled by China is a reckless ever present danger to the world with its Nuk games. Your big production about what is going on is nothing new same day different topic. In Asia you have all three code reds. China is in a debt spiral. The whole region is a major oil importer from the dangerous ME. Asia is one food crisis away from multiple failed states. Asia’s growth will suddenly die on the vine with the true onset of PO and food insecurity. Asia cannot grow without energy growth without growth Asia cannot pay for necessary food and energy
Mark on Sat, 19th Jul 2014 11:02 am
when I first heard about this on the radio, they were saying “Obama is taking a serious interest in the fate of the Malaysian jetliner” and I thought they might of finally found something in the Indian ocean, only to find out another one just went down. Not flying on them for awhile. Several years ago I flew over what is now South Sudan on a KLM flight to Tanzania. That area was at war then, make me think twice about taking an airline flight over unstable regions no matter what carrier.
Even if there is an oil embargo initiated by either the Europeans or the Russians, the Russians still have to sell that oil somewhere. Say they sell it to China instead of Europe. That means China needs less oil from other sources. That oil that China would have bought from the other sources will then be sold to Europe. This is why this kind of speculation strikes me as seriously flawed. The oil has to be taken off the market to all buyers for there to be a supply shortage.
Arthur on Sun, 20th Jul 2014 3:28 am
Everybody is talking about a missile, but it could have been a bomb as well. Here is the kicker… security at Amsterdam airport is run by ICTS, an ***Israeli *** security firm. Now, ICTS is the mother company of Huntley-USA, the company that in 2001 ran ‘security’ in Boston and Newark, both 9/11 departure airports. That’s a little too much of coincidence, would you not agree? MH17, the Dutch 9/11?
Davy on Sun, 20th Jul 2014 7:31 am
Art, your side of the augment is falling from favor as the global masses look for straight forward explanations. They are not sophisticated and have little time to research the nuances. I am on the fence myself. Until I hear something convincing either way I will consider it the “fog of war”. In my mind both sides are up to no good that is typical of modern warfare isn’t it?
JuanP on Sun, 20th Jul 2014 8:58 am
Davy, I would expect you, more than anyone else here, to have trouble accepting that the USA could have been behind this incident for several reasons. The whole thing gives me indigestion and makes me sad and angry, to be honest, and I am not an American citizen, just a legal alien very happy with my life in your country. But I think the population no longer controls the government in the USA, and normal people like us are not responsible for this, even if it is done in our name.
I don’t expect the GP to ever understand what is going on in the world today, paticularly not here in the USA, where denial rules the day, and that’s why I no longer interact with normal people if I can help it. I have no time to waste in them any longer. My guess is Art feels the same about the GP’s understanding of all these matters. What he writes is for people like us who seek the truth, not the GP.
The truth can be a bitch and sometimes it hurts like hell, but in this particular incident we’ll never find out what went on, IMHO.