$70 Oil Competition #2? What's your guess?

Pip · Post by **Pip** » 13 Apr 2006, 09:32

DamianB wrote:Looks like we have a winner!

Congratulations to snowhope!!

Gah, and there was me about to enter! Congrats (if thats the right word!) Snow Hope!

RevdTess · Post by **RevdTess** » 13 Apr 2006, 10:22

DamianB wrote:On what day will the price of oil close at $70/barrel or higher

Contract is spot month NYMEX WTI future
Price basis is closing

uh, what? front month WTI hasn't closed over $70 yet. Currently at $68.22. That $WTIC thing isn't nymex futures.

Post by **clv101** » 13 Apr 2006, 10:26

Yeah, May hasn't closed above $70 yet.

DamianB · Post by **DamianB** » 13 Apr 2006, 14:27

Apologies for the false alarm. I believed that that graph showed the rolling front month future

snow hope · Post by **snow hope** » 13 Apr 2006, 16:03

No probs. That means I have a week to get closer to my chosen date.

RevdTess · Post by **RevdTess** » 13 Apr 2006, 16:09

snow hope wrote:No probs. That means I have a week to get closer to my chosen date.

$70 is still looking good for next week, though if we don't make it, we could end up back down at $65 pretty quick.

andyh · Post by **andyh** » 17 Apr 2006, 05:46

I think WTI just briefly touched $70 in asian trade according to this:

http://www.advfn.com/news_Oil-prices-hi ... 52304.html

dr_doom · Post by **dr_doom** » 17 Apr 2006, 18:51

The front month Nymex Future is currently sitting at exactly $70.00 according to bloomberg.

http://www.bloomberg.com/energy/

Just needs to sustain till closing and we'll have a winner.

Ballard · Post by **Ballard** » 17 Apr 2006, 19:11

321 energy have a price thingy...

It says $71.70 at time of typing...

http://www.321energy.com/

Have I misunderstood

or is it just plain wrong ?

hold on (edited posting)

http://www.nymex.com/lsco_fut_cso.aspx

it's $70.15...

dr_doom · Post by **dr_doom** » 17 Apr 2006, 19:15

Ballard wrote:321 energy have a price thingy...

It says $71.70 at time of typing...

http://www.321energy.com/

Have I misunderstood

or is it just plain wrong ?

For some reason 321energy use the May/June delivery futures contract,
rather than the spot price.

dr_doom · Post by **dr_doom** » 17 Apr 2006, 20:00

$70.35 now.

What are we using as market closing time?

If it's 14.30pm new york time then that's it, competition over.

biffvernon · Post by **biffvernon** » 17 Apr 2006, 21:02

$71.93 for WTI and $71.46 for Brent. What's going on? Don't they know it's Easter?

Totally_Baffled · Post by **Totally_Baffled** » 17 Apr 2006, 21:12

OMFG - $2.16 for wholesale nymex gasoline!

This was under a dollar not long ago!

andyh · Post by **andyh** » 17 Apr 2006, 22:26

surely now time to start the next competition? $80 the target?

Ballard · Post by **Ballard** » 17 Apr 2006, 23:20

Well done Snow,

I do believe you won, I guess that gives you the honour of starting the next competition tread.