$100 Oil Competition

SunnyJim · Post by **SunnyJim** » 20 Nov 2007, 13:49

Seems to be up again today..... $96 in sight... wonder if the WSJ article is sinking in....

RevdTess · Post by **RevdTess** » 20 Nov 2007, 15:39

Market mostly focussed on weak dollar, not peak oil.

WTI (Jan08 contract) is currently $96.51

Norm · Post by **Norm** » 20 Nov 2007, 15:54

Which way is it heading near term Tess? I need to know for purely selfish reasons.

I am about to order a couple of thousand litres of the red stuff.

Erik · Post by **Erik** » 20 Nov 2007, 15:57

Dinor wrote:I am about to order a couple of thousand litres of the red stuff.

Dinor, I think you should try cutting down on the wine, old chap.

SunnyJim · Post by **SunnyJim** » 20 Nov 2007, 15:59

Norm · Post by **Norm** » 20 Nov 2007, 16:02

Erik wrote: Dinor, I think you should try cutting down on the wine, old chap.

Erik, Gasoil B not Ribero del Duero

SunnyJim · Post by **SunnyJim** » 20 Nov 2007, 16:04

Blimey, things are getting bad if you have to resort to drinking that stuff....

Andy Hunt · Post by **Andy Hunt** » 20 Nov 2007, 16:05

Chateau d'Iselle Rouge?

SunnyJim · Post by **SunnyJim** » 20 Nov 2007, 16:10

Night all....

Andy Hunt · Post by **Andy Hunt** » 20 Nov 2007, 16:15

Nearly $97 now . . .

RevdTess · Post by **RevdTess** » 20 Nov 2007, 17:10

$97.07. Most market factors point up at the moment. We've been as high as $97.30 today.

RevdTess · Post by **RevdTess** » 20 Nov 2007, 18:15

New all time high for brent crude $95.20

Keela · Post by **Keela** » 20 Nov 2007, 18:48

Tess wrote:Market mostly focussed on weak dollar, not peak oil.

Could this be because it is still "uncool" to mention peak oil?
Could peak be affecting decisions without individuals admitting that it is an issue?

RevdTess · Post by **RevdTess** » 20 Nov 2007, 22:20

Sally wrote:
Tess wrote:Market mostly focussed on weak dollar, not peak oil.
Could this be because it is still "uncool" to mention peak oil?
Could peak be affecting decisions without individuals admitting that it is an issue?

Yes it *is* there, but it typically manifests as concerns about the increasing costs of exploring and developing new oil fields rather than a belief we're past peak. Only perennially bullish investors like T Boone Pickens really look at peak oil as a market driver, and even then, it's not something that comes and goes. It's not the thing that makes us go from $98 to $90 and then turn around and go back up to $98. That's much more short term. That's all about the dollar, the economy, the winter cold, and OPEC.

Keela · Post by **Keela** » 21 Nov 2007, 07:36

Thanks Tess.