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

Post by **mikepepler** » 12 Apr 2007, 11:18

Joules wrote:I find Bloomberg to be easier on the eye - http://www.bloomberg.com/markets/commod ... rices.html

But the nymex one lets you view futures prices out a few years ahead (click expanded table), and if you click an individual month you can plot a graph with varying time scales.

Ballard · Post by **Ballard** » 12 Apr 2007, 13:27

I like this one...

Is it accurate? Don?t know haven?t checked.

http://www.oil-price.net/

Post by **mikepepler** » 12 Apr 2007, 13:45

Ballard wrote:I like this one...

Is it accurate? Don?t know haven?t checked.

http://www.oil-price.net/

That looks good - it doesn't have the 30 min delay of the Nymex website, which is great for watching markets react to news reports in real time, for all the Peak Oil Junkies out there!

However, it doesn't have the graphing abilities and futures data of the Nymex one, I think.

Keela · Post by **Keela** » 12 Apr 2007, 14:26

Future data! ?????

Past data is much more interesting. A graph of future data is only someone else's predictions based on past data and their predictions for the future.

I didn't immediately see a way to access past data... is there one?

Post by **mikepepler** » 13 Apr 2007, 09:14

Sally wrote:Future data! ?????

Past data is much more interesting. A graph of future data is only someone else's predictions based on past data and their predictions for the future.

I didn't immediately see a way to access past data... is there one?

On the nymex site, you can change the graph to show data at intervals of 1, 10, 15, 30, 60 mins, then days, weeks, months. Remember that although the graphs are of "futures", they are historical prices of futures, not "future futures", if that makes sense!

Although "futures" are someone's guess at future prices, they are the way the market deals with it, so they are important to look at, especially as the historical view tells you what the traders thought oil would cost today at various points inthe past.

For numerical data, go here: http://tonto.eia.doe.gov/dnav/pet/hist/rclc1d.htm

Going back to http://www.oil-price.net/ , I don't think it's very real-time actually, it didn't match the data from nymex very well.

Andy Hunt · Post by **Andy Hunt** » 01 May 2007, 12:12

Well, my bid was today and oil hasn't reached $70 yet.

I think Mocara is next - 13th May. Happy birthday Mocara!!

Keela · Post by **Keela** » 01 May 2007, 13:58

It's been close though....

.... how long does it have to maintain $70 for to be counted?

Will just getting above $70 on oil-price.net count then?

Hmmmm I think my call is too far away ($70 on 07/07/07) for all its pretty numbering.

Andy Hunt · Post by **Andy Hunt** » 01 May 2007, 14:25

Sally wrote:Hmmmm I think my call is too far away ($70 on 07/07/07) for all its pretty numbering.

Maybe the demand for jet fuel to fly in all the rock stars for the big international climate change awareness concerts on that day will tip the oil price over the cliff . . .

http://liveearth.org/

PS_RalphW · Post by **PS_RalphW** » 17 May 2007, 21:15

Brent crude just passed $70. I think the close was $70.23.

Do we want to call this an end (because Brent is now the more
representative of global oil prices) or wait for WTI crude to catch up
(current $64 ish).

Who's going to open the bidding for $80 ? or should we go for
$5 /gallon US petroleum?

Erik · Post by **Erik** » 17 May 2007, 21:51

RalphW wrote:Brent crude just passed $70. I think the close was $70.23.

Do we want to call this an end (because Brent is now the more
representative of global oil prices) or wait for WTI crude to catch up
(current $64 ish).

Who's going to open the bidding for $80 ? or should we go for
$5 /gallon US petroleum?

I definitely think someone ought to define the rules before the next competition starts!

Cran · Post by **Cran** » 18 May 2007, 11:14

I definitely think someone ought to define the rules before the next competition starts!

don't be silly

Keela · Post by **Keela** » 18 May 2007, 14:51

Cran wrote:
I definitely think someone ought to define the rules before the next competition starts!
don't be silly

Indeed if we can keep the rules woolly I can perhaps still argue for MY date to win!

Post by **clv101** » 18 May 2007, 15:24

I can see no reason to base the competition on Brent when I'm not predicting $70 until 7th Sept.

Erik · Post by **Erik** » 18 May 2007, 20:57

clv101 wrote:I can see no reason to base the competition on Brent when I'm not predicting $70 until 7th Sept.

So the rules are basically the same as cricket then?!

Right, well I think we'll see WTI crude at 70$ before the end of this month (hey it's easy when you're this close and Israel is hurling missiles over the border).

And for 80$ I'll place my chips on the 5th of November, 2007.

Erik · Post by **Erik** » 18 Jun 2007, 21:34

mikepepler wrote:
Joules wrote:I find Bloomberg to be easier on the eye - http://www.bloomberg.com/markets/commod ... rices.html
But the nymex one lets you view futures prices out a few years ahead (click expanded table), and if you click an individual month you can plot a graph with varying time scales.

NYMEX showslight sweet crude at 69.09$ at the moment and creeping upwards. Who's going to win the $70 bet this week?! (assuming we eliminate Brent from the competition!)