Whats still holding oil up?? :confused: Why wont it just smash to 101???

S

spanish89

What is actually now holding oil up above $100?? :confused:

The dollar basically gets 100+points stronger ever single day for weeks now,
demmand is lowering each day as we slipping further into recession,
So what is still holding oil up above 101???

Who out there would be buying it at this area?? lol



But also on the other side its been about 9days of down in crude now, crashing almost $15s in 1week.

But how many more days can we keep having crude down for in a row?? :confused: :eek: :eek:
 
Quote from spanish89:

What is actually now holding oil up?.......

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More...

1) Hurricanes?
2) Impending cold weather?
3) Commercial buying?
4) War?
5) Terrorism?
 
Quote from nazzdack:

1) Hurricanes?
2) Impending cold weather?
3) Commercial buying?
4) War?
5) Terrorism?
More...

And maybe, just maybe, the fundamentals are somewhat tight... Look at inventories on gasoline and crude in the US. Very low, actually.

Just like the news media was pumping supply/demand and not speculation, now they are pumping 'global slowdown' the same way. Look at the inventory reports and you'll see demand destruction is not that significant here.

I wish I had access to recent chinese data to see the dynamic there and impact on global supplies.
 
Quote from spanish89:

What is actually now holding oil up above $100?? :confused:

The dollar basically gets 100+points stronger ever single day for weeks now,
demmand is lowering each day as we slipping further into recession,
So what is still holding oil up above 101???

Who out there would be buying it at this area?? lol



But also on the other side its been about 9days of down in crude now, crashing almost $15s in 1week.

But how many more days can we keep having crude down for in a row?? :confused: :eek: :eek:
More...
A slight demand destruction isn't enough to bring oil to a complete crash.
Production increases to meet demand for the next decade just aren't enough.

This is just an expected correction to an overbought market, but not a long lasting bear market.
 
GRRRR now this is just taking the fucking piss now!! :mad: :mad: :mad:

Every trader and analyst keeps talking about oil going back to $80/90 atleast, maybe 60/70s...,
but then as son as it gets too near to $100 everyone comes in and starts to rebuy it again???

I dont get why anyone would do this though?? :confused:

They cant actually think the oil wont fall below $100 this week or next at latest...,
so why buy??
 
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