[mountainlion]

OPEC has lowered crude prices to put fracking in a bind. Demand was down so with the lower prices everyone built up their supplies. The radio said that US facilities were almost full and they expected prices to collapse. If ISIS continue to flood the market prices should not go up. If OPEC raises prices ISIS and Iraq will gain market share and keep prices form raising much. Unknown future events will be the wild card for prices. War with Israel would probably skyrocket prices.

[thackney]

If ISIS continue to flood the market prices should not go up.

ISIS is only producing oil that was already being produced before from the same areas, and they are producing less of it than before they took over.

They are not flooding the market, they are reducing the oil supply to the market.

The net impact of ISIS is less oil on the global market. Their impact raises prices for the rest of us.