Oil Price Watch

[Dennis from Oregon]

Back up over $84.00, a new record...    http://www.economicsbriefing.com/2007/10/crude-oil-at-new-all-time-high.html

[zigspider]

Looks like a definate over $90 before the end of the year, maybe $95.

[dwheeler]

Even CNN is not so fluffy,       http://money.cnn.com/2007/10/12/markets/oil_record/index.htm?postversion=2007101215


They do claim this price is not sustainable but thats  at the end of the article.

Doom and gloom buy  more ammo,buy more food......spend a dime borrow a dollar

and we'll marry our sisters and live in a holler.YEEE HAWWWW!

Sorry something came over me,

[Lowblow]

"Gasoline season is over, we're going into low demand time," said Stephen Schork, publisher of the industry newsletter the Schork Report.

http://money.cnn.com/2007/09/17/news/economy/gas_prices/index.htm

Gasoline Season??  As if were hunting for gasoline! WE are freaking crack addicts looking for the snort of high octane. 

CNN  >>>> Continue Numbing Nuerons

[suburban_junkscape]

Has anyone noticed that the bad part of Hurricane season is ending and the Gulf Coast had no major storms but still we're pushing $83 a barrel. This can't be good.

[Coyflyte]

http://www.breitbart.com/article.php?id=D8S7SND00&show_article=1

Oil futures rose to a new trading high above $84 a barrel on Friday—and settled at a new record—on concerns that supplies are not adequate to meet fourth-quarter demand.

Recent reports have indicated that crude inventories are falling. Thursday's Energy Department report showed that domestic oil supplies declined last week, and an International Energy Agency report on Thursday concluded that oil inventories held by the world's largest industrialized countries have fallen below a five-year average.

"This is a concern," Stephen Schork, a trader and analyst in Villanova, Pa., said in a research note. "Despite relatively weak demand ... crude stocks still fell last week."

Energy Secretary Samuel Bodman appears to agree, stating Friday that high prices are being driven by fundamental supply and demand imbalances, not speculative investing.

An uncharacteristically frank admission by the Administration/Energy Secretary.  Do you think this is a latent warning by TPTB that things aren't as rosy as they seem with the existing "cheap" gas?

Increasing foreclosures and home heating prices could prompt a winter of discontent.

[Chip Haynes]

Oil's above $85.00 right now, according to Bloomberg.

It should be a wild week.

[suburban_junkscape]

2007 is looking like a dreadful year. Oil prices started and ended 2006 at $61 but they rose $15 in each of 2004 and 2005. This year looks like we'll go up at least $30 to keep that $15 per year trend in place.

Goldman Sachs $95 year end prediction looks very achievable.

Also, if we're in the $90's in January that raises the recessionary red flag of an 80% year over year price increase. Combine that with the sluggish housing market and it looks like we'll have an official start to the Long Emergency.

[earl]

Oh, man.  This just isn't what I wanted to see first thing on Monday.  Gets me all nervous, you know.  My b/f and I are poised to make a big move INTO the city (a necessity of our employment)...  Headlines like these make me question to wisdom of our actions.
http://www.nytimes.com/aponline/business/AP-Oil-Prices.html?_r=1&oref=slogin
Oil Futures Hit New Record Above $85
NEW YORK (AP) -- Oil prices surged above $85 a barrel Monday for the first time after OPEC said crude production by non-OPEC countries is falling even as global demand for oil is rising.

[suburban_junkscape]

Don't worry. If oil keeps going up at this rate we won't have to worry about employment too much longer. 

[MiccyNarc]

I'm betting that we'll see $95 by November. 

[iPinz]

I'm betting that we'll see $95 by November. 

don't know if i have to laugh or cry. that's pretty much spot on. 

[GreenNeck]

85.80$ at last check.

The silence from the merry boys and girls at CERA and similar outfits is deafening. This is what they said just a few short months ago:

http://blogs.chron.com/newswatchenergy/archives/2007/02/best_guesses_on.html

[Chip Haynes]

Drudge just posted an article about oil hitting $86 and backing off. We'll see what it closes at this afternoon- about an hour from now.

High $85's look likely.

[REDREAMER]

...........and STILL no price changes at the pump........ not good....not good at alll.