$100 A Barrel Oil is on the Way

#951
#951
I've heard that the oil being traded today is not set for delivery for 8 years. If that's the case, why did gas prices go haywire?

Also, these prices are for light, sweet crude, right? What about heavy crude?
 
#952
#952
MG1968 said:
I've heard that the oil being traded today is not set for delivery for 8 years. If that's the case, why did gas prices go haywire?

Also, these prices are for light, sweet crude, right? What about heavy crude?
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I don't know. I read that Mexico(not sure if it is government owned or a private entity) was locking in the 140 price range and selling oil for future delivery(years away) at that price. So, people are thinking perhaps prices have peaked.
 
#953
#953
Sjernigan88 said:
So is this the begining of a down hill slope or are the investors just waiting for one more bit of bad news so they can run it up again?
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IMO the demand for oil in Asia, specificly India and China, is what has drove these large price increases over the last year.

Unless something happens, to slow down their growth, I don't think the price of oil will be under a $100 a barrel. I think China and India's demand, will continue to grow every year. The demand is growing faster then the oil companies ability to find new oil deposits. It does seem like we are heading toward peak oil....
 
#954
#954
natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas
 
#955
#955
VolinArizona said:
natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas natural gas
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Isn't that what comes out your back end? :shaking2:
 
#956
#956
oklavol said:
IMO the demand for oil in Asia, specificly India and China, is what has drove these large price increases over the last year.

Unless something happens, to slow down their growth, I don't think the price of oil will be under a $100 a barrel. I think China and India's demand, will continue to grow every year. The demand is growing faster then the oil companies ability to find new oil deposits. It does seem like we are heading toward peak oil....
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then why on earth would worldwide inventories have jumped so significantly over the past month?

Demand clearly hasn't driven the dramatic runup as much as capital available to be invested in commodities. Surely you don't think the end user demand for gold has spiked as significantly as the price do you?
 
#957
#957
BigPapaVol said:
then why on earth would worldwide inventories have jumped so significantly over the past month?
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That's what drove the price of oil down 17 dollars this week, that and Bush announcing plans to ease restrictions on off-shore drilling.
 
#958
#958
oklavol said:
That's what drove the price of oil down 17 dollars this week, that and Bush announcing plans to ease restrictions on off-shore drilling.
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that drove the price down but should have cratered it. Supply and demand is out of whack in the commodities markets because much of the demand is being supplied simply by excess capital.
 
#961
#961
Man, I'm just glad more drilling would do nothing. The mere mention by Bush of removing restrictions and oil has dropped $19 since. Coincidence?
 
#962
#962
allvol123 said:
Man, I'm just glad more drilling would do nothing. The mere mention by Bush of removing restrictions and oil has dropped $19 since. Coincidence?
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the man is surely going to anger and excite his oil baron friends. He's an evil genius moron!!
 
#967
#967
allvol123 said:
Nothing to see here. Oil down $4 to $116, everyone keep moving.
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it's all those dang speculators shorting oil. We really need to put controls on them so they don't make money like this. It's unAmerican to make money at the expense of the oil companies
 
#970
#970
with the Russian air force bombing oil pipelines in Georgia, the speculators might panic once again and $100/bbl oil may not happen.
 
#972
#972
I don't know guys, Russia was bombing the pipelines yesterday and the market shrugged it off by $4.92. It just shows you how much fast money was in this trade.
 
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