Oil May Be Off to the Races Because of Syria: Ryan

REPLAY VIDEO
Your next video will start in
Pause
  • Info

  • Comments

  • VIDEO TEXT

August 30 (Bloomberg) -- On today's "Futures In Focus," Gareth Ryan, Managing Director at Iur Capital, discusses events in Egypt and Syria being a catalyst for the bullish move in oil, and factors that may make oil prices rise even more. He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

That does it for us today on "in the loop" and we are off on labor day, monday.

We have some guests next week, it restored mobil making a run for mayor of new york city.

Later in the week, we will hear from steve ross, who owns the miami dolphins as well as the buffalo wild swings.

Getting ready to feed nfl fans as football season starts.

It is 56 minutes past the hour, which means bloomberg television is on the markets.

Let's let's say you caught up on where markets are trading.

-- lets get you caught up on where markets are trading.

Pretty much know where.

It is flat.

I had the chicago personal the the managers' index and not a lot of movement there in stock.

The pullback in august of about 3% is really complete.

Sales force .com is beating estimates.

Its cloud business is taking off.

And secondly, blackberry.

Morgan stanley is holding off on upgrading its blackberry felons on concerns -- phones concerns that they will not be there in the longer-term.

Quite a cult -- roller-coaster ride this week as tensions rise in syria.

Oil is slightly down today.

The u.s. military strike in syria is pretty uncertain.

Where is the bottom?

Good morning.

There are two factors that have driven prices in oil in the month of august.

But first, the crisis in egypt and then the conflict in syria.

That -- those have been the catalyst for this.

And not a lot of will in either country.

It is their location.

And with regard to egypt, the location of the suez canal, which is a key transit pipeline for all supplies.

How much fear is factored in?

We siple back of a couple percentage point in the last couple of days.

-- we saw a pullback of a couple percentage point in the last couple of days.

The situation in both of these companies -- countries it will not be fixed anytime soon.

With brand about 3 million or four million barrels per day offline and then it with nigeria and iraq and iran, but what about other countries?

We had this type during august.

We are not expecting any kind of change in pricing in september.

The situation in those areas will not be fixed in the near term.

What kind of volatility do we need to brace for?

$100 is a key psychological leveller.

That is still a very important level for us.

We're still looking for a move between 100-115 in the next few months.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change