Why are oil prices so low?

murray t turtle said:
.LOL Still strange in west TN unleaded gas seems stuck for the past 5-7 days on $1.96 & 9/10,@BP....... + most all the gasoline stations. Citgo is $1.89 &9/10. My TN county does tend to have cheap gasoline, plenty of lower bids, retail anyway.Walmart gives a cash card discount of 3cents off that.Marathon Oil station is $1 99& 9/10 but that price has been that for 5-7 days also despite a
weekly uptrend in unleaded wholesale gasoline
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You are in TN too? I'm in middle TN in the Nashville area. I filled up for $1.79 yesterday morning.
 
Saw it. Called it. Traded it. In advance. Not after the fact like is the norm on ET. :)

Where's the bears and the experts now? A guy here was calling for $25 this week? :D
 
ogarbitrage said:
Hope you got out before your arrogance got the best of you.
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Haha. I'm just having fun. :)

I'm not long oil. I'm long STL. Still well in the money on my entry.

We were 5 dollars short of the price you would be shocked to see. After such a move, pulling back is normal, no?

Still a lot left of February.
 
A little update to my haters! :)

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StatoilThroughTheRoof.png

Another 4% day today. Morgan Stanley upgraded Statoil to buy today with a price target of 160 NOK.

I think that will be my target as well. Maybe more if the oil prices start to pick up soon. :)

Kind regards from Norway.
 
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