Oil Price Watch

[Doc Savage]

MUHAHAHAHA!
My brother is in denial about peak oil, bet him a 6 pack of the finest beer we can find that oil will reach 100$ by April.

[akaskip]

  Oil is back up to $80.00, the markets are up, gold and silver up, the US dollar down.
It's at the point that you can check the USD index first and if it's down, 9 1/2 times out of 10 everything else is up.

[jcs44]

The DOE's were just released for this week and actually showed a draw on crude, DSL, & gasoline stocks. This combined with the USD being down almost 0.7% today should make for an interesting finish on today's SPOT markets. Look for prices to at least hold and possibly close up with some solid gains.

[Bill Hicks]

80.39

Funny how having it over $80 no longer even rates much of a story in the MSM anymore.

The closest gas station to my office is currently selling premium for $3.07.  It's been creeping up for weeks now.

[akaskip]

80.39

Funny how having it over $80 no longer even rates much of a story in the MSM anymore.

The closest gas station to my office is currently selling premium for $3.07.  It's been creeping up for weeks now.

  The higher gas prices seem to wake most up anymore, the average Joe is like shi# here we go again, my son tells me diesel has shot up again, not sure of the average price? and i saw wholesale heating oil has been over $2.00 a gallon for some time now, it's gonna suck if you heat with oil this winter especially if you live in the North and N. East, think i'll go put another log on the fire

[jcs44]

Well, the gains on the SPOT market today turned out to be a nonevent. Nothing up more than a penny and a half, despite the dollar dropping 0.82% today. I'm kind of baffled at this- a draw on stocks and a dollar drop usually gets us some pretty big gains. 

[graveday]

jcs44, all I can say is what is under your avatar.  A bunch of huhs.  Apparently nothing is as it seems, and once you think you have it, the rules change, and there are no rules anyway.

[shaleoh2]

This cheap oil is like old inventory that is suddenly worth a lot more. So, here is where the orange juice analogy stops. A more appropriate metaphor is beachfront property in Hawaii. Forty years ago such property was plentiful and cheap. Today it’s harder to find, in much greater demand, and therefore worth multiples more.

peace

..........sells but who's buyin

[PeakARoo]

Crude climbs in Asia on weak dollar....



"An Iraqi official told the Associated Press insurgent attacks caused a 4% on-month drop in the country's oil exports in October."

"Meanwhile, major oil producer Iran launched a five-day air defense exercise Sunday, flexing its military might amid Western pressure over its nuclear program, and threatening retaliation against Israel if it were to target Iran."

http://www.marketwatch.com/story/oil-futures-crude-climbs-in-asia-on-weak-dollar-stocks-weigh-2009-11-23

[PeakARoo]

Oil futures extend decline after API reports big jump in stocks

http://www.marketwatch.com/story/oil-trades-flat-ahead-of-inventory-economic-data-2009-11-24

[Megadoom]

Oil futures extend decline after API reports big jump in stocks

http://www.marketwatch.com/story/oil-trades-flat-ahead-of-inventory-economic-data-2009-11-24

We are clearly on the bumpy plateau. Oil demand is wavering because the true state of the economy is in shambles. The descent down the backside hasn't begun yet....but it will, I think, in the Summer of 2010.

[shaleoh2]

duh ya think!  OMG


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[graveday]

Ah, Shaleoh, what can I say?  I think you captured it perfectly in black and white.

[Mezzanine]

Lmfao 

[PeakARoo]

"Oil gains as dollar falls, inventories rise less than expected."

This seems to contradict my last post??

http://www.marketwatch.com/story/oil-futures-edge-higher-ahead-of-inventory-data-2009-11-25