Current Oil Price

oilslick · Post by **oilslick** » 06 Jun 2008, 12:14

Hmm, I was just getting used to $120 oil.

emordnilap · Post by **emordnilap** » 06 Jun 2008, 12:19

emordnilap wrote:If you look at the upstream graph, there's a definite pattern there, isn't there?

mikepepler wrote:Is the monthly change simply the contract for futures moving from one month onto the next one? There's usually a price differential between them on the changeover day?

Yes, that's the pattern. So that means....

PS_RalphW · Post by **PS_RalphW** » 06 Jun 2008, 13:25

$131.29

$9 in 24 hours.

Vortex · Post by **Vortex** » 06 Jun 2008, 13:31

RalphW wrote:$131.29

$9 in 24 hours.

This is nuts - the bandwidth of the REAL world aint that fast!

Andy Hunt · Post by **Andy Hunt** » 06 Jun 2008, 13:53

Would it be inaccurate to say that about $10 of the oil price seems to be due to speculation?

Vortex · Post by **Vortex** » 06 Jun 2008, 14:12

Andy Hunt wrote:Would it be inaccurate to say that about $10 of the oil price seems to be due to speculation?

I've always thought $10-$15.

Business gurus on a BBC radio program today said it was nearer $20.

IMHO this is simply slight noise on a huge oil price.

Andy Hunt · Post by **Andy Hunt** » 06 Jun 2008, 14:13

Vortex wrote:IMHO this is simply slight noise on a huge oil price.

Well that's exactly the way it seems to me too, FWIW.

PS_RalphW · Post by **PS_RalphW** » 06 Jun 2008, 14:21

PS_RalphW · Post by **PS_RalphW** » 06 Jun 2008, 14:24

$134.25

It's faster than I can post.

WolfattheDoor · Post by **WolfattheDoor** » 06 Jun 2008, 14:31

The first post in this topic was at 14:03 on 12 September at $78.93. As we are beginning to close in on that anniversary, I wonder what the price will be on the ticker at 14:03 on 12 September 2008. Maybe we should have another contest.

I'll go for $110 (an eventual little bit of a fall back in the next three months)

PS_RalphW · Post by **PS_RalphW** » 06 Jun 2008, 14:39

I'll go for $157.86

Double.

It could be higher...

Andy Hunt · Post by **Andy Hunt** » 06 Jun 2008, 14:42

Mitch · Post by **Mitch** » 06 Jun 2008, 14:43

Your "predictions" have a good track record Wolf, but I go for 150 plus. Seems to me like pull back's only last a week or three before the next massive upswing. Pull backs don't go down nearly as far as the up swings go up.

WolfattheDoor · Post by **WolfattheDoor** » 06 Jun 2008, 14:53

Mitch wrote:Your "predictions" have a good track record Wolf, but I go for 150 plus. Seems to me like pull back's only last a week or three before the next massive upswing. Pull backs don't go down nearly as far as the up swings go up.

I'm listening to the cricket at the moment so I'm in an optimistic mood. Probably won't last long.

Adam1 · Post by **Adam1** » 06 Jun 2008, 14:56

$150+ - based on gut feel