$100 oil out of reach despite Iran saber-rattling
MarketWatch
European Union sanctions on Iran officially went into effect this month, but for oil, the $100-a-barrel level remains out of reach for the U.S. benchmark, and lower prices may soon follow. The market is a long way from $100 on WTI crude because of a “three-pronged bearish attack on prices from deteriorating demand from the euro-debt crisis, a slowing U.S. economy and signs of slowing in China,” said Matt Smith, an analyst with Summit Energy.
