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why the drop in crude price?
Posted: 11 Dec 2009, 18:55
by Neily at the peak
Down from nearly $80 just a few weeks ago to under $70 as I look at the ticker at the bottom of this page.
Any ideas anyone?
Neil
Posted: 11 Dec 2009, 21:20
by adam2
Poorer economic news in the last few days/weeks leading to less demand for oil.
Will probably go up again soon as demand in China and perhaps also India appears to be increasing.
Also a number of new oil discoveries have been announced recently, and such news tends to deppress prices, despite the fact that no new oil will be produced for some years.
Posted: 11 Dec 2009, 23:53
by fifthcolumn
The strategic reserves are all full now.
Posted: 12 Dec 2009, 01:28
by Andy Hunt
Double dip/dead cat bounce.
Posted: 12 Dec 2009, 06:32
by ziggy12345
Speculators cashing in their stocks to pay for the christmas skiing trip to Vail
Posted: 12 Dec 2009, 18:31
by emordnilap
It's because our road was cut off by floods and our car sat on the drive, unused for eight whole days.
Posted: 12 Dec 2009, 20:38
by PS_RalphW
fifthcolumn wrote:The strategic reserves are all full now.
Globally, reserves are lower now than three months ago. Still fairly full.
(Although, China was buying quite a lot three months ago for their reserves. They are filling reserves as fast as they can build the tanks.)
Posted: 13 Dec 2009, 13:37
by raspberry-blower
Another factor to consider is the strength of US$.
A strengthening US$ maybe a sign of investors heading for the exits...