Oil Price Watch

[REDREAMER]

YES YES IT IS.... (mind you I had to look up FUBAR in google).... ahhh the things you learn on this board......

 

[willow]

If the cat isn't already out of the bag, then it sure should be by Christmas when the expensive oil becomes expensive gas at the pumps.

[suburban_junkscape]

We'll probably hit $100 next Wednesday if we get another bad inventory report. As for gas prices, just wait until Spring. Just wait.

[del2les]

I noticed this thread was getting cold, and I think it is an indicator as to the fact we all know what is coming. The shattering of the 100 mark will sparked some postings, but at the end of the day, what the heck. 100, 150, 200 are all just numbers that are quickly losing their meaning to me. Its kinda like hurricane wind strength: Cat 5 at 175 vs 200mph. Like it is really going to make much diference if you are caught on the coast (unprepared).

[Sammi]

$96 exactly as I type this.

[MiccyNarc]

Oil dropped today? What the hell?

[the_guy_with_the_gun]

this is when the speculators leave the market, because the volatility scares the crap out of them.  When this bottoms out, we will know what oil really is worth.

[SideHillnDirtPoor]

                             It closed at $94.60 tonight................
                            guess what it was a year ago.............??

                            $59.29

[Coyflyte]

The spin-meisters are in over drive lately.  I saw a few news stories on CNN and CNBC over the weekend where the "experts" are attributing the high oil price purely to speculation and not a supply and demand "problem". 

Jan. '08 crude is till over $90.  Gold and silver futures are up into 2012.  Since commodities support each other, that's a lot of speculation going a long way out.  There's a lot of profit taking in new crop soybean contracts as well as all corn contracts today as both are down.  At least their movement can be attributed to supply/demand as a large harvest is finishing up. 

My question is what will it take to scare the speculators out of the crude market so we can find the bottom.  Unfortunately, we'll have to wait for a long term trend to be extablished as the price has gome up so much, so quickly - 160% per SHDP.

[Chip Haynes]

Oil's at $95.79 right now. The all-time high is $96.24- less than 50 cents away. I expect we'll see it at least touch $96 today.

Funny how anything below $95.00 is considered "low" now.

 


A quick update: $95.99 right now- 10:14 am.

[doghouse reilly]

$96.04 now

[Chip Haynes]

$96.52- We are at an all-time high!

 

[suburban_junkscape]

Throw in a pipeline blast in Yemen and another penny drop on the euro-dollar exchange rate. Looking more and more like the Long Emergency started in August. At this rate of deterioration I wouldn't be surprised to see gas lines next spring.

I think we'll hit $150 at the end of 2008. If there is a global recession we might stabilize at $100.

[Bionic_Oil_Gut]

$96.60! Houston We Have A Problem........which way did he go?

[del2les]

I guessed we would hit 100 BEFORE TxDay, and right now it looks like I will be right. I was hoping to be WRONG, but then, I was hoping we were all wrong. New record over $97pb, and things haven't really begun with geo-political events. This morning, AAA predicted gas would be at $4pg next summer, but I am betting they are too low. Any major events affecting oil in the next few months, and all bets are off on pricing. We have entered the Twilight Zone, and anything is not only possible but becoming very probable.

The Death Spiral has begun.