Crude bounce.....

GlobalFinancier · Feb 27, 2006

I would prefer to see media cooling down and oil close above $63 sustained before going long.

patbateman · Feb 27, 2006

well oil got crushed today, we aer still in the midst of a short term bear mkt. Got short at the beginning of the day (monday), expect a drop below 60 bucks in WTI and Brent by the end of the week. we could see 57 soon again. The saudi news looked like panic short covering to me. Barring a crazy inventory number or further attacks, the trend remains bearish in the short term. I would definintely start selling puts in the next few weeks though, as energytraderus suggests.

kalzayani · Mar 8, 2006

Crude 66.04 58.87 Buy
for the next leg
58 to 57 for sure
GL

SethArb · Mar 13, 2006

back over $60 ... actually hit $62 AH today

in april futures

danoXP · Mar 13, 2006

COIL vs. WTI still inverted ...

... nobody in the pit seems to know why?

GlobalFinancier · Mar 18, 2006

BULL!
Predicted by GlobalFinancier.

spoofy · Mar 18, 2006

Quote from GlobalFinancier:

BULL!
Predicted by GlobalFinancier.

pffftt.. i doubt it

I wouldnt be suprised if we go blow 60 in the coming week. The Iran issue is cooling off and the fundamenals will really hurt current prices.

spoofy · Mar 18, 2006

a few hours after i post that....

Pipeline blast hits oil supplies in Nigeria
18 Mar 2006 20:07:00 GMT
Source: Reuters
PORT HARCOURT, Nigeria, March 18 (Reuters) - Unidentified attackers blew up an oil pipeline in Nigeria's southern delta, further hitting oil supplies from the leading OPEC nation, authorities said on Saturday.
The blast on the Tebidaba-Brass pipeline near Brass Terminal, both operated by Italian oil company Agip, was the latest in a series of attacks on oil installations in the eighth biggest oil-exporting country, which had already reduced supplies by almost a quarter.
Agip, a unit of ENI, confirmed an "act of sabotage" on the pipeline and said an unspecified quantity of production had been lost. One oil industry source said production of 67,000 barrels per day (bpd) had been cut.
In a statement issued by ENI headquarters in Italy, the company said: "The situation is under control and operations have commenced to define the extent of the pipeline damage and contain any associated pollution."
Militants demanding greater autonomy for Nigeria's poor oil heartland have carried out several attacks and kidnapped oil workers in the past three months.
A police spokesman in the region said no one was kidnapped or killed in the latest attack. Militants are holding three foreign oil workers hostage.
Royal Dutch Shell has cut its output by 455,000 bpd and other companies have shut another 100,000 bpd since Feb. 18. The latest explosion brought the total impact of the attacks to 622,000 bpd, 26 percent of Nigeria's 2.4 million bpd capacity.
(Additional reporting by Milan bureau)

danoXP · Mar 18, 2006

Quote from GlobalFinancier:

BULL!
Predicted by GlobalFinancier.

No where do I find this prediction. Please post a reference substantiating this post.

There is a big difference in predicting "rain" sometime in the future and predicting "rain tomorrow afternoon around 3pm".

GlobalFinancier · Mar 18, 2006

Quote from danoXP:

No where do I find this prediction. Please post a reference substantiating this post.

There is a big difference in predicting "rain" sometime in the future and predicting "rain tomorrow afternoon around 3pm".

1)Oil has disappeared from media, sentiment is cooling down
2)MACD bull divergence in small trading range, breakout anticipated
3)EUR/USD is bullish, a break of 1.2350 would signal a bottom, which would be bullish for commodities.
4)Iranian oil bourse starts trading on March. 20th
So oil will go up in the near term, in fact, I'll prolly be buying some oil/oil stocks in my real money portfolio on Monday.
The reason I don't like to give out too many reasons, is I don't want others to copy me

.