trafficinsight
Well-Known Member
This just in, oil prices have jumped to 120$ a barrel on news that oil prices have jumped to 120$ a barrel.
Crude OIl
- Thread starter Kingairer
- Start date
surreal1221
Well-Known Member
Self-Fulfilling Prophecies.
Yup.
Yup.
planesiscool
New Member
:yup:
CirrusMonkey
No Real Usefulness
Well see. All it takes is a butterfly fart in the middle east and BANG!!
The same market analyst who drove the prices up a month ago, calling for "$150.00 pbb by the 4th of July", is saying $80ish ppb by next week.
The same market analyst who drove the prices up a month ago, calling for "$150.00 pbb by the 4th of July", is saying $80ish ppb by next week.
surreal1221
Well-Known Member
Not calling your bluff. . .BUT. . .
Link to said analyst calling for 150, and also a link for said analyst calling for 80.
Thanks.
CirrusMonkey
No Real Usefulness
There is an analyst who said that, by the 4th of July, oil would hit $150.00 a barrel........The 4th has come and gone and oil hit near that $150.00 mark as he said it will.........Fast forward to today...........The same analyst is now saying that by NEXT WEEK.......Oil will be somewhere in the $80.00 a barrel range.....................
SlumTodd_Millionaire
Most Hated Member
I think we could possibly see $2.50/gallon again. Not great, but much better than $4/gallon.
surreal1221
Well-Known Member
I'm sure there is a person who has said both of these things. . .what I was asking for though was a link, or a name to go with it.
TheOneMarine
Well-Known Member
Anyone figure there will be a ton of airlines trying to hedge it at $85-$100 bbl? You would think it would make sense rather than watch it scream to $160/bbl. I know it COULD go lower but why risk it.
tpaRob
Well-Known Member
Not the same guy, but here is another outlook from an options trader.
http://www.msnbc.msn.com/id/12400801/
CirrusMonkey
No Real Usefulness
I'm sure there is a person who has said both of these things. . .what I was asking for though was a link, or a name to go with it.
Got ya. Sorry man, was a little cranky yesterday (pink slip coming my way in September). Total uncalled for on my part.
The guy was on CNBC a few days ago and talking about futures. Guess we will see. You know how it goes. Until then, cheers!
kellwolf
Piece of Trash
Make it an airplane engine, and we could even do in-flight refueling!
fly22
Well-Known Member
Not saying that it can't, but oil came down to a fibanocci number and is chilling. If it breaks through the fib line it still wouldnt hit 80.00. 80.00 is not the next retracement line.
frog_flyer
FredFlyer
kellwolf
Piece of Trash
The big question is with oil in a free fall, are gas prices really gonna come down? With Americans almost used to spending $4/gallon on gas (and me being a believer in sticky prices/wages), I wouldn't be surprised to see gasoline companies try to keep the price up as long as they can. I'd love to see a track of oil on the way up/gas prices compared to oil on the way down. I'm betting the price is gonna be different at $120/barrel on the way down than it was on the way up. Gas prices are gonna fall a lot slower than they shot up.
SlumTodd_Millionaire
Most Hated Member
I will be vindicated! :rawk:
Doubtful. This is my unqualified, uneducated rant but now the corner store has a little bit of pricing power and the market will support $100/bbl oil and the consumers purchasing higher cost, nay PRICE gasoline.
If gas gets to around $2.50 gallon again, expect to see all of drive for alternative energy, wind power and hybrid cars evaporate.
Warning: I really don't know what the hell I'm talking about when it comes to the "Crude: OIl" topic.
kellwolf
Piece of Trash
Was thinking about this a bit more, and I got to wondering. What if, say the local Chevron has gas for $3.79 b/c they can, but they're making a killing. Well, mom and pop Phillips 76 down the road might even be using the same people to get the gasoline from. What's to stop them from selling gas at $3.50 a gallon and swiping all the Chevron's customers? Chevron will be forced to drop it down to $3.49 (because people WILL go out of the way to save a penny a gallon) in order to sell their overpriced potato chips.
