Current Oil Price

emordnilap · Post by **emordnilap** » 13 Oct 2009, 12:38

biffvernon wrote:It's been in the 65 to 75 range for a long time now.

It seems to have moved up quite swiftly yesterday and today and now it's hitting the top of that range. Does reaching around 75 'trigger' something?

PS_RalphW · Post by **PS_RalphW** » 13 Oct 2009, 12:59

Last time it triggered a lot of oil selling - the price dropped about $3 in short order.

It will be interesting to see what happens now. The current rise is largely dollar weakness. We may test $75 in the next few hours (or minutes).

Post by **adam2** » 14 Oct 2009, 09:07

$75 now, and IMHO will go up more.

Start of northern heating season, slight improvement in economic news, slight risk of military action in the ME re Irans nuclear facilities and Israels belief that this will threaten them.

emordnilap · Post by **emordnilap** » 14 Oct 2009, 11:50

It's generally seen as a Good Thing, an indication of 'economic recovery'.

A bit like a slow down in the number of people losing their jobs being a hopeful sign?

The price touched a 2009 high, I believe.

Post by **kenneal - lagger** » 14 Oct 2009, 17:15

emordnilap wrote:It's generally seen as a Good Thing, an indication of 'economic recovery'.

Conversely, it could be seen as a harbinger of the next recession.

emordnilap · Post by **emordnilap** » 15 Oct 2009, 11:10

Interesting. Seventy-five-and-a-half. Anyone feeling a price crash coming on?

PS_RalphW · Post by **PS_RalphW** » 15 Oct 2009, 16:03

Just gone through 76 on a fall of petrol stocks in the US.

Yet the total US stocks are still 'above the long term average range' in all categories.

PS_RalphW · Post by **PS_RalphW** » 15 Oct 2009, 17:15

There goes $77.

Fun

biffvernon · Post by **biffvernon** » 15 Oct 2009, 20:11

Eeeh, just like the old times.

Mitch · Post by **Mitch** » 15 Oct 2009, 21:17

What happen@? what happen? I been asleep for a few month's - wht's all this $77.94 business?

neckiep · Post by **neckiep** » 16 Oct 2009, 10:39

78 according to the ticker. Will it make 80 is the question

emordnilap · Post by **emordnilap** » 16 Oct 2009, 10:40

Bloomberg's take.

PS_RalphW · Post by **PS_RalphW** » 16 Oct 2009, 11:11

However, US prices are increasingly out of step with rest of the world
spot prices at

http://www.upstreamonline.com/market_da ... kets_crude

Which makes me wonder if

1. This is a mini speculative bubble or

2. The conspiracy theorists are right and US stock levels are being reported too high.

Time, as always , will tell.

RogerCO · Post by **RogerCO** » 16 Oct 2009, 16:51

Tess wrote:New all-time intra-day high for WTI is $78.93, and we're still pushing higher.

Oh, pardon me, that was posted on 12th September
...
...
2007
(the very first post in this thread when we had the first sweepstake running on $80)

Groundhog Years anyone?

Totally_Baffled · Post by **Totally_Baffled** » 16 Oct 2009, 20:04

Groundhog Years anyone

I know what you mean if the global economy keeps bouncing between growth and recession due to high oil prices, then this thread could get very repetitive!

If the price gets much beyond $200 then the only posts will be:

'aarrghhhgreeee aaaarrrghhhh'

Thats the sound of a powerswitcher being eaten by a starving zombie hoard

PowerSwitch

Current Oil Price

Groundhog Years Re: Current Oil Price