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Author Topic: Oil Price Watch  (Read 155605 times)
Chip Haynes
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« Reply #615 on: January 02, 2008, 03:48:07 PM »
Bloomberg has it at $99.62 right now- What are you watching, Jacob?
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jacob
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« Reply #616 on: January 02, 2008, 03:50:18 PM »
It did go back down to sub $100, but traded over $100 earlier this afternoon.

http://news.bbc.co.uk/2/hi/business/7168664.stm


Quote
Oil prices have doubled from $50 a barrel in January 2007. Oil has traded at $100 a barrel for the first time. Violence in Nigeria, Algeria and Pakistan, the weak US dollar and the threat of cold weather have all raised prices after the new year break.

Light sweet crude rose $4.02 to $100 a barrel in New York, prompting a drop in shares and a surge in gold prices.
« Last Edit: January 02, 2008, 03:52:20 PM by jacob » Logged
Chip Haynes
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« Reply #617 on: January 02, 2008, 03:54:35 PM »
Hmmm... Maybe I should be asking when are you watching, Jacob? Oil touched $100 briefly right around noon, US Eastern Standard Time. I haven't seen it do it again this afternoon, but it could happen quickly and back off - and I'd miss it again. (I went for a walk at lunch time and missed the first one.) Now we wait and see how soon it closes over $100.

This week, perhaps?
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jacob
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« Reply #618 on: January 02, 2008, 03:56:56 PM »
I'm generally watching it off and on through the day.

Considering the winter just started, it's guaranteed to close over $100 very, very soon and to stay there.
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Chip Haynes
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« Reply #619 on: January 02, 2008, 04:02:12 PM »
Let me restate my badly asked question: What global time zone are you in, Jacob? What you saw happening "in the afternoon" maybe be what we saw happen here right around noon itself. The time stamp on these thread posts are set to US Eastern Standard Time- at least, that's what I see on my screen in each post. Do you see the actual local time you post- or sometihng else?

Just curious.
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jacob
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« Reply #620 on: January 02, 2008, 04:06:17 PM »
I'm -4 ATL. 1 hour ahead of eastern.
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REDREAMER
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« Reply #621 on: January 02, 2008, 04:10:21 PM »
http://www.npr.org/templates/story/story.php?storyId=17784031
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Chip Haynes
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« Reply #622 on: January 02, 2008, 04:10:36 PM »
So what happened at noon USEST you see at 1 pm.? Sounds about right.

So that puts the Eastern US seaboard at what? -5GMT?
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jacob
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« Reply #623 on: January 02, 2008, 04:16:47 PM »
Quote from: Chip Haynes on January 02, 2008, 04:10:36 PM
So what happened at noon USEST you see at 1 pm.? Sounds about right.

So that puts the Eastern US seaboard at what? -5GMT?

Correct on both counts.
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DeathHand
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« Reply #624 on: January 03, 2008, 04:53:27 AM »
Bloomberg @ 99.89 4:53am Grin
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Chip Haynes
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« Reply #625 on: January 03, 2008, 07:03:54 AM »
Whoa, you're up EARLY! By 7 am, it had dropped to $99.77, if "dropped" is the correct term. Seems a bit excessive. More like "eased". We should see $100 again today after everyone wakes up and has their coffee.
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Andy_K
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« Reply #626 on: January 03, 2008, 08:28:02 AM »
Great! I've been away for a few weeks but it looks like I'm back just in time for the party!
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Ovis Suburbanus
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« Reply #627 on: January 03, 2008, 10:24:32 AM »
Quote from: Chip Haynes on January 03, 2008, 07:03:54 AM
Whoa, you're up EARLY! By 7 am, it had dropped to $99.77, if "dropped" is the correct term. Seems a bit excessive. More like "eased". We should see $100 again today after everyone wakes up and has their coffee.

We're about 10 minutes from the release of this week's inventory report and it appears there's a weak selloff as the price drops into the $99.30s.

We already know the report will show inventory down, at least. We'll see trading above $100 the rest of the day.
« Last Edit: January 03, 2008, 10:38:32 AM by Ovis Suburbanus » Logged
Chip Haynes
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« Reply #628 on: January 03, 2008, 11:06:20 AM »
Oil's at $98.95 right now. Let's see if it jumps above a hundred over lunch time today.

 Roll Eyes
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Chip Haynes
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« Reply #629 on: January 03, 2008, 12:13:40 PM »
Ok, back from lunch and Texas Tea is going for $99.90- just one thin dime shy of the big one-oh-oh.

So much for the lone gunman theory.

 Wink
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