oil. what else is new. 400k barrels down

[scriabinop23]

a good day for the shorts.

400k barrels down in Prudhoe
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4sIj4Dr47BY&refer=home
http://www.bloomberg.com/news/markets/energy.html

250k barrels down in OPEC for july.


And somewhere I read a Japanese analyst saying oil could take off $10 from here on just this news.

I'm just waiting for some news out of Iran.

 

[daddyeaux]

the gold market is finally impressed by something................... a hole in a pipe

 

[eugenie98]

Thank god. I was sh*tting in my pants after Floyd dissipated and I was still long.

I don't understand why the Contango situation has been reversed with Brent but is still active with WTI, anyone care to explain?

Latest Brent:
September U6 contract: 77.60
October V6 contract: 77.37

Latest WTI:
September contract: 76.60
October contract: 77.67