Oil hits $64/barrel, market doesn't care

reno4nook · Jan 8, 2006

I disagree. OPEC recently slowed excess production because no one was buying it.
Chinese demand growth has definitely slowed.

http://english.people.com.cn/200601/06/eng20060106_233386.html

GlobalFinancier · Jan 8, 2006

What matters is the chart, not such numbers... And the sentiment, which has cooled down. The so-called experts are now bearish. MON DIEU!

EqtTrdr · Jan 9, 2006

Gold 20 year highs..... Dow 5 year highs??

whaaaa?

Am I in some type of parallel universe?

buzzy2 · Jan 9, 2006

INDU just broke 3/7/05 high, just a few pts away from 11000

joewp · Jan 10, 2006

Quote from reno4nook:

I disagree. OPEC recently slowed excess production because no one was buying it.
Chinese demand growth has definitely slowed.

http://english.people.com.cn/200601/06/eng20060106_233386.html

The OPEC basket of crude is a bunch of junk, very little light sweet crude in there. It sells for around $57 and produces less gasoline and lighter products than the benchmark WTI on quoted the NYMEX when refined.
http://www.opec.org/home/basket.aspx

Some Chinese guy yapping about falling crude prices this year is just joining all the US economists who've been yapping about falling crude prices for the last three years and been wrong.

GlobalFinancier · Jan 17, 2006

Hey I'm Chinese and I am/was bullish on oil :-p

.
Anyways, do you hear the screaming? That's someone who shorted oil. Uhoh, that's a great Chinese New Year present for him

. Red packets full of money for us, he pays the bill...

GlobalFinancier · Jan 19, 2006

Above $67.
$67.50 will prove strong resistance. If we break above that as I think we will, we'll see a stronger uptrend.

GlobalFinancier · Jan 19, 2006

http://quote.bloomberg.com/apps/news?pid=10000006&sid=axhbXSnZb0R4&refer=home
Longs en guard. Media getting frivolous on oil again, sentiment getting high.

GlobalFinancier · Jan 25, 2006

I'm out of oil and oil stocks. Good profit.