Finding crude bottom

if temps in the northeast were normal area Oil would be at 65+ now. These warmer temps are knocking oil down hard. For some reason though im not seeing it at the pump. Paid $2.61 the other day, whats up with that??????
 
Front month crude....pivot point is $55.60 (a bit away from current levels)....but a daily close below $56 opens up the door for a move to $36.....minor resistance at $58.00 and $60 looks like a top now......OPEC will be very vocal in thei $56 to $58 range....summary: $55.70 approach should see support....but the mother of all stops of funds long oil may be lurking below $55.60
 
crude currently trading $55.77...$55.81 is closing low going back over a year for front month contract...floor trading closes in 5 minutes
 
Quote from S2007S:

if temps in the northeast were normal area Oil would be at 65+ now. These warmer temps are knocking oil down hard. For some reason though im not seeing it at the pump. Paid $2.61 the other day, whats up with that??????
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You must be in LA..
 
Quote from polpolik:

I think he meant he must be in LA since gas prices are that high still.
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Ahhhhh, yes!

I hear that they are charging between $2.77 and $2.83 for Premium unleaded out there.

But then again, CALIFORNIA uses its own "reforumlated" gasoline and is not fungible to other markets.

Their premium is also only 91 octane.
Bummer.
 
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