THE Price of Crude pt 2 (merged) Archived

[OZ_DOC]

Just wondering if anyone else is having trouble with the nymex site. For the last 2 days each time ive checked crude prices it shows 0 and 0 change. All other prices are fine, just crude oil not showing?

[BabyPeanut]

Just wondering if anyone else is having trouble with the nymex site. For the last 2 days each time ive checked crude prices it shows 0 and 0 change. All other prices are fine, just crude oil not showing?

I always look at http://futuresource.com/ now

try link and link

[Geko45]

Just wondering if anyone else is having trouble with the nymex site. For the last 2 days each time ive checked crude prices it shows 0 and 0 change. All other prices are fine, just crude oil not showing?

I've been getting the same thing, but it seems to be working this morning.

[Revi]

Seems like oil is floating between 60 and 62 dollars a barrel. Could that be the new normal? Is there an "invisible hand" keeping it there? Like the Texas Railroad Commission or OPEC in the 70's?

[AirlinePilot]

Hey 60$ is cheap compared to last month!!!! Everything is fine!!!!

I suspect things are going to be pretty stable until the winter hits. That plus the holiday season will bring consumption right back to where it was. Sheeple have short memories. I see some serious problems coming after we lose that extra gas from european inventories, and emphassis on heating oil is given over gas production at the major refinieries which still are operating.

[Leanan]

Crude oil jumps $2 a barrel in New York after hitting 3-month low Wednesday, Reuters reports.

[TITAN]

It looks like the two-year, pre-Katrina oil climb has resumed. Supplies are "up" which means demand is rising and going to continue. I expect gasoline to resume it's permanent upward trend any day now...Too bad the geoplitical scene looks quite boring presently...



Of course something "bad" might happen when Bush begins trotting all over the globe this month...

[FrankRichards]

It looks like the two-year, pre-Katrina oil climb has resumed. Supplies are "up" which means demand is rising and going to continue. I expect gasoline to resume it's permanent upward trend any day now...Too bad the geoplitical scene looks quite boring presently...

As long as you talk about gasoline, I think you're at least a month early, and maybe 6 months.

For the one month, the releases from reserves are scheduled to last till the 15th, and then it will another couple of weeks to get them out of tankers and pipelines. So my guess is December 1, not Nov. 1.

The maybe is the winter: Winter in Northeast North America , from the Great Lakes to the Atlantic, including both the US and Canada could start any day now, or it might hold off till Christmas.

If it holds off, then yeah, folks will drive around and do their Christmas shopping and holiday travel. If the temperature collapses this weekend, people will see their first big natgas and oil bills in time to abort the shopping season and cut back their driving just like they did in September.

[fossil_fuel]

i'm in ithaca, NY right now, known for it's brutal winters. but it's 70 degrees outside and sunny, and i'm wearing shorts. buildings are turning their air conditioning on. we're setting records for warmth at this time of year. i srue hope a cold snap comes so my NG stocks recover a bit.

[strider3700]

I'm not expecting gasoline to go back up until march or april. may long weekend at the latest.

heh some cold weather to bring my ECA up would be nice

[PWALPOCO]

Fossil_Fuel

Mother Nature can be cruel sometimes. Here in the UK the country bathed in unseasonable warmth just a few days ago. It was a record Octobers day across the country, most papers commented on it (and inevitable Global Warming speculation) the next day.

Within a few days the weather turned to crap ! Sure , we arent up to our necks in snow , but its windy and grey and wet and the air has developed a bit of a chill. Far from Icy , but the decline seems to have set in now , all over a very short space of time.

Winter is winter , it will come , only the severity is unknown. Lets hope we all have a mild winter and live to fight another day.

Paul

[Revi]

Crude is down to 57 dollars a barrel. What's up with that? Who knows, we may just sail through this winter on supplies layed up during this cheap spell. What do you think?

[strider3700]

$57 is a cheap spell?

How quickly we adapt.

[AirlinePilot]

Two steps forward one step back.

Look at the Charts for crude

Short term moves mean pretty much nothing unless you are a media dolt, or a market guy.

[bobcousins]

There is always a dip after the summer, the smart money has crude running down to $50. In terms of trend that that means nothing - compare this year with last year to see the trend.

Crude and gasoline supplies are up, but distillates are down, so that does not look good if weather turns cold. Is it fair to say that we will get some unusual moves in price due to the crude and refined products that are being released from strategic reserves? I guess that if not managed properly they will cause increased volatility.

[Revi]

We can't let this thread die. It's the only one that I've seen go to 100 pages! That's another record even if oil isn't hitting one just yet!

[lowem]

Well, give it a couple months or whatever, I believe in Light Sweet Crude's record-breaking capability ...

Think of it as a buying opportunity. A potential point of entry. A pre-Christmas gift.

[Revi]

How does one buy a commodity like light sweet crude? Could a very small investor buy it?

[lowem]

How does one buy a commodity like light sweet crude? Could a very small investor buy it?

*shrug* to be honest, I don't know. I don't buy the stuff directly

Ask the pro traders, they might direct you to their broker or something, heh.

[Revi]

You may be right. Oil is heading towards $60 again. Is this a run up?