Utopia Talk - Politics - Crude "skyrocketing" towards $110

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Utopia Talk / Politics / Crude "skyrocketing" towards $110

murder
Member Tue Aug 19 07:08:15
Currently ...

NYMEX Crude: $111.98

Brent Crude: $111.02

I predict $110 by days end.

And no I'm not an expert ... but I play one on UP. :oP

Camaban
Member Tue Aug 19 07:10:51
Not by days end.

In two days possibly

In three days probably

In four days, almost definitely.

BushIsDaBestPresid
Member Tue Aug 19 08:28:23
4 weaks ago rob" oil ski rokintin 2 160"

Standard of Reason
Member Tue Aug 19 10:03:42
RoB--"$200/barrel by year's end"

Or something like that.

LOL

Market forces FTW!

jergul
Member Tue Aug 19 10:16:46
Could be right. Dire news is coming out of the States that may impact on demand for a while to come.

But it just means trend line adjustment and that the movement to the 140 odd peak was premature (or whatever the hell the peak was).

murder
Member Tue Aug 19 10:39:59

I think the peak was ~ $148 or so.

Damn thing is back over $113 now. :oP

Dakyron
Member Tue Aug 19 10:58:54
It seems to have settled between $110 and $115. This could be the actual market price.

Standard of Reason
Member Tue Aug 19 15:22:30
Don't bet on it.

bigboy
Member Tue Aug 19 15:31:47
Jergul 2 years ago: "US will be brought to its knees by excessive debt! US economy is in ruins!"
Jergul 12 months ago: "US will be brought to its knees by sagging dollar! US economy is in ruins!"
Jergul 6 months ago: "US will be brought to its knees by terrible loan crisis! US economy is in ruins!"
Jergul 3 months ago: "US will be brought to its knees by high oil prices! US economy is in ruins!"
Jergul now: "US will be brought to its knees, look at the dire news! Oil prices drop in fear! US economy is in ruins!"

Don't you get tired of being wrong, Chicken Little?

bigboy
Member Tue Aug 19 15:34:47
Anyway as far as oil prices go, OPEC and especially the Saudis are panicking after we called their bluff and started exploring the options for shale oil. They need to get the price below 100 again so that alternative sources aren't price-competitive.

bigboy
Member Tue Aug 19 15:48:26
Also, 800,000 barrels per day less oil used in the US tends to bring down prices, even if other countries are still increasing their use.

http://news.tradingcharts.com/futures/8/3/112501138.html

crownroyal
Member Tue Aug 19 15:57:32
"OPEC and especially the Saudis are panicking"

Panicking all the way to the bank.

"after we called their bluff and started exploring the options for shale oil."

In that case they really have nothing to worry about. Explore away, sound extremely promising and definite. "Exploring the options" wow, this is some threat.

"They need to get the price below 100 again so that alternative sources aren't price-competitive. "

That is true, and they will, and we'll be paying close to $100 a barrel, celebrating like a bunch of retards. Till the next crisis.

jergul
Member Tue Aug 19 17:01:17
Bigboy
Jergul two years ago: The rate of debt growth in the US is pushing 20% of gdp a year (adding more than 2 trillion in debt yearly). The best option would seem to be a period of lethargic growth and highish inflation as debt growth falls to sustainable levels (debt growth a bit higher than real growth + inflation is fine).

Jergul 12 months ago: I remember back when you all that it crazy a euro would buy a dollar and 40 cents.

Jergul 6 months ago: Looks like stagflation light, with sluggish growth and inflation outside of the Feds comfort zone. Good. Its easily the best way to get debt growth under control.

Jergul 3 months ago: Oil is still dirt cheap, you are all freaking out because you think is should be practically free. Get use to an era of cheap oil replacing that of virtually free oil.

My longstanding prediction: The US will have 20% of global military spending and about 12% of the global economy by 2025 (in nominal terms). Call me a doomsayer :-)

Oh, you may want to notepad my every post bigboy if you wish to attempt quotations, cuz your memory sucks.

mexicantornado
Member Tue Aug 19 17:04:40
"200 bucks a barrel by end of summer" RoB

Milton Bradley
Member Tue Aug 19 17:52:10
"I play Risk with tranny hookers" - mexicantornado

show deleted posts

murder Member	Tue Aug 19 07:08:15 Currently ... NYMEX Crude: $111.98 Brent Crude: $111.02 I predict $110 by days end. And no I'm not an expert ... but I play one on UP. :oP
Camaban Member	Tue Aug 19 07:10:51 Not by days end. In two days possibly In three days probably In four days, almost definitely.
BushIsDaBestPresid Member	Tue Aug 19 08:28:23 4 weaks ago rob" oil ski rokintin 2 160"
Standard of Reason Member	Tue Aug 19 10:03:42 RoB--"$200/barrel by year's end" Or something like that. LOL Market forces FTW!
jergul Member	Tue Aug 19 10:16:46 Could be right. Dire news is coming out of the States that may impact on demand for a while to come. But it just means trend line adjustment and that the movement to the 140 odd peak was premature (or whatever the hell the peak was).
murder Member	Tue Aug 19 10:39:59 I think the peak was ~ $148 or so. Damn thing is back over $113 now. :oP
Dakyron Member	Tue Aug 19 10:58:54 It seems to have settled between $110 and $115. This could be the actual market price.
Standard of Reason Member	Tue Aug 19 15:22:30 Don't bet on it.
bigboy Member	Tue Aug 19 15:31:47 Jergul 2 years ago: "US will be brought to its knees by excessive debt! US economy is in ruins!" Jergul 12 months ago: "US will be brought to its knees by sagging dollar! US economy is in ruins!" Jergul 6 months ago: "US will be brought to its knees by terrible loan crisis! US economy is in ruins!" Jergul 3 months ago: "US will be brought to its knees by high oil prices! US economy is in ruins!" Jergul now: "US will be brought to its knees, look at the dire news! Oil prices drop in fear! US economy is in ruins!" Don't you get tired of being wrong, Chicken Little?
bigboy Member	Tue Aug 19 15:34:47 Anyway as far as oil prices go, OPEC and especially the Saudis are panicking after we called their bluff and started exploring the options for shale oil. They need to get the price below 100 again so that alternative sources aren't price-competitive.
bigboy Member	Tue Aug 19 15:48:26 Also, 800,000 barrels per day less oil used in the US tends to bring down prices, even if other countries are still increasing their use. http://news.tradingcharts.com/futures/8/3/112501138.html
crownroyal Member	Tue Aug 19 15:57:32 "OPEC and especially the Saudis are panicking" Panicking all the way to the bank. "after we called their bluff and started exploring the options for shale oil." In that case they really have nothing to worry about. Explore away, sound extremely promising and definite. "Exploring the options" wow, this is some threat. "They need to get the price below 100 again so that alternative sources aren't price-competitive. " That is true, and they will, and we'll be paying close to $100 a barrel, celebrating like a bunch of retards. Till the next crisis.
jergul Member	Tue Aug 19 17:01:17 Bigboy Jergul two years ago: The rate of debt growth in the US is pushing 20% of gdp a year (adding more than 2 trillion in debt yearly). The best option would seem to be a period of lethargic growth and highish inflation as debt growth falls to sustainable levels (debt growth a bit higher than real growth + inflation is fine). Jergul 12 months ago: I remember back when you all that it crazy a euro would buy a dollar and 40 cents. Jergul 6 months ago: Looks like stagflation light, with sluggish growth and inflation outside of the Feds comfort zone. Good. Its easily the best way to get debt growth under control. Jergul 3 months ago: Oil is still dirt cheap, you are all freaking out because you think is should be practically free. Get use to an era of cheap oil replacing that of virtually free oil. My longstanding prediction: The US will have 20% of global military spending and about 12% of the global economy by 2025 (in nominal terms). Call me a doomsayer :-) Oh, you may want to notepad my every post bigboy if you wish to attempt quotations, cuz your memory sucks.
mexicantornado Member	Tue Aug 19 17:04:40 "200 bucks a barrel by end of summer" RoB
Milton Bradley Member	Tue Aug 19 17:52:10 "I play Risk with tranny hookers" - mexicantornado
	show deleted posts

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