Short Term Top in Oil
- Thread starter areyoukidding?
- Start date
Not a prediction, but medium uoptrend in oil/gas sector is still up;
ddint buy any dips today, like i usually do.
XOM,BP, independants oil stations were lowering prices today;
south east,
helping consumers balance thier budget.
ddint buy any dips today, like i usually do.
XOM,BP, independants oil stations were lowering prices today;
south east,
helping consumers balance thier budget.
http://www.marketwatch.com/news/story.asp?column=Futures+Movers&siteid=mktw&dist=
"We may be awash in gasoline by the end of September,"
"We may be awash in gasoline by the end of September,"
if we close over 70 any time next week, oil shorts are dead meat. this baby could go to 90. i don't think we're done yet, at all.
I think this is an interesting move on the part of the Bush admin.
Haven't read up on the full news item yet, but dumping a bunch of supply into a market is generally a very good way to lower prices. If oil prices do start to decline/retrace, I'm very interested to see how the markets will handle a significant decline in oil prices, particularly after the parade of "higher highs" news items we've been seeing lately.
there was a 10 minute ( POST CLOSE NYMEX )
reaction to the SPR news friday
www.platts.com
- October crude traded down to $67.10/bbl for a loss of $2.37/bbl on the
session. October unleaded gasoline fell to $2.1590/gal, down to its allowable
limit of 25 cts/gal and triggering a five-minute trading halt. October heating
oil traded down to $2.0850/gal, down 11.35 cts on the day.-
reaction to the SPR news friday
www.platts.com
- October crude traded down to $67.10/bbl for a loss of $2.37/bbl on the
session. October unleaded gasoline fell to $2.1590/gal, down to its allowable
limit of 25 cts/gal and triggering a five-minute trading halt. October heating
oil traded down to $2.0850/gal, down 11.35 cts on the day.-