CL Redux

Brent Crude Oil Futures Halt Five-Day Advance in London on Demand Concern
By Grant Smith - Apr 7, 2011 5:13 AM PT

http://www.bloomberg.com/news/2011-...-day-advance-in-london-on-demand-concern.html

-- We have some signs of the negative impact of high prices on demand in the last weeks, and I would expect more numbers in that direction in coming weeks,” said Andy Sommer, a senior analyst at EGL AG in Diet****, Switzerland. “The market is too high right now. If there are no additional supply outages I expect a downward correction.”

-- “The Libyan situation has been priced in” to the oil price, said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “We haven’t seen further signs of contagion and as a result prices seem relatively comfortable around this range.”


-- <b>Nigerian output may decline after the presidential election takes place on April 16, according to Barclays Capital.</b> That would curb supplies of the light, low-sulfur grades that have been curtailed because of fighting in Libya. More than 50 people have died in election-related violence since July, according to Amnesty International, while sectarian clashes in the north have claimed the lives of at least 200 since Dec. 24.
 
Quote from InvestVision:

Brent Crude Oil Futures Halt Five-Day Advance in London on Demand Concern
By Grant Smith - Apr 7, 2011 5:13 AM PT

http://www.bloomberg.com/news/2011-...-day-advance-in-london-on-demand-concern.html

-- We have some signs of the negative impact of high prices on demand in the last weeks, and I would expect more numbers in that direction in coming weeks,” said Andy Sommer, a senior analyst at EGL AG in Diet****, Switzerland. “The market is too high right now. If there are no additional supply outages I expect a downward correction.”

-- “The Libyan situation has been priced in” to the oil price, said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “We haven’t seen further signs of contagion and as a result prices seem relatively comfortable around this range.”


-- <b>Nigerian output may decline after the presidential election takes place on April 16, according to Barclays Capital.</b> That would curb supplies of the light, low-sulfur grades that have been curtailed because of fighting in Libya. More than 50 people have died in election-related violence since July, according to Amnesty International, while sectarian clashes in the north have claimed the lives of at least 200 since Dec. 24.
More...

They're analysts, they don't know preferred stock from livestock, alright?

- Gordon Gekko, Wall Street.
 
Reasons for 110 today:

1) technical breakout,
2) ridiculous discount to brent, needs to narrow,
3) Bernanke money printing continuing
4) ECB raises rates, dollar under pressure

Why don't you see 110 today?
 
Quote from Visaria:

Reasons for 110 today:

1) technical breakout,
2) ridiculous discount to brent, needs to narrow,
3) Bernanke money printing continuing
4) ECB raises rates, dollar under pressure

Why don't you see 110 today?
More...

All fine and dandy, but take a look at the euro.

Good luck/skill to everyone.
 
Quote from Visaria:

Reasons for 110 today:

1) technical breakout,
2) ridiculous discount to brent, needs to narrow,
3) Bernanke money printing continuing
4) ECB raises rates, dollar under pressure

Why don't you see 110 today?
More...

cuz IV da man, is short :D


If we can make a new high, sure, I'd be looking for 110
 
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