out .45
long .47
long .47
CL Redux
- Thread starter schizo
- Start date
out .67
short .67
out .62
SS 102..82
scratch
look at gasoliine RBOB chart for last one hour , steep rise from now where . It seems that pulled the CL to this 103 ...
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Arab oil faces higher âbreak-evenâ price
Surge in domestic spending strains a fragile energy mark
http://www.marketwatch.com/story/ar...reak-even-price-2011-05-29?link=mw_home_kiosk
HONG KONG (MarketWatch) â A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship theyâve kept for decades with energy consumers worldwide.
A wave of popular protests sweeping the Middle East and North Africa has toppled regimes in Tunisia and Egypt and led to civil war in Libya. It has also forced the regionâs rulers to launch programs worth tens of billions of dollars in attempts to redress public grievances.
The spending spree is likely to be felt far beyond their borders. To cover the cost, energy producers have to squeeze more money from their oil fields. That means raising their âbreak-evenâ price â the amount of money they must make from each barrel of oil â to avoid fiscal deficits.
Failure to fund these new commitments could lead to domestic spending cuts, which could stoke social and political unrest, or jeopardize their fiscal soundness by requiring they take on more national debt or draw down sovereign wealth funds accumulated over the years.
<b>$100 a barrel
Iradian said the global economy could cope with oil prices in the $80 to $100-a-barrel range, but would be hurt if prices held at $130 to $140 âfor a long period of time.â
Heâs not the only person with the view that $100 a barrel is something consumers can handle. </b>
Charles Seville, a director in the sovereign debt team of Fitch Ratings, wrote in emailed comments that the world economy is adjusting to higher oil prices, and that $100 oil is âless of a shock second time around than it was in 2008,â when Nymex crude-oil prices peaked at $146 a barrel.
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Arab oil faces higher âbreak-evenâ price
Surge in domestic spending strains a fragile energy mark
http://www.marketwatch.com/story/ar...reak-even-price-2011-05-29?link=mw_home_kiosk
HONG KONG (MarketWatch) â A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship theyâve kept for decades with energy consumers worldwide.
A wave of popular protests sweeping the Middle East and North Africa has toppled regimes in Tunisia and Egypt and led to civil war in Libya. It has also forced the regionâs rulers to launch programs worth tens of billions of dollars in attempts to redress public grievances.
The spending spree is likely to be felt far beyond their borders. To cover the cost, energy producers have to squeeze more money from their oil fields. That means raising their âbreak-evenâ price â the amount of money they must make from each barrel of oil â to avoid fiscal deficits.
Failure to fund these new commitments could lead to domestic spending cuts, which could stoke social and political unrest, or jeopardize their fiscal soundness by requiring they take on more national debt or draw down sovereign wealth funds accumulated over the years.
<b>$100 a barrel
Iradian said the global economy could cope with oil prices in the $80 to $100-a-barrel range, but would be hurt if prices held at $130 to $140 âfor a long period of time.â
Heâs not the only person with the view that $100 a barrel is something consumers can handle. </b>
Charles Seville, a director in the sovereign debt team of Fitch Ratings, wrote in emailed comments that the world economy is adjusting to higher oil prices, and that $100 oil is âless of a shock second time around than it was in 2008,â when Nymex crude-oil prices peaked at $146 a barrel.
look at U turn of gasoline RBOB , the same one pulled CL to 103 , pushed down to 102.50
interesting , there may be some story ( later) for gasoline ...
interesting , there may be some story ( later) for gasoline ...
