Oil Prices

Going down????

Oil Dashboard
September, Thursday 11 2008 - 11:53:33
Crude Oil
$100.83
▼1.75 1.71%
11:53 AM EDT - 2008.09.11

http://www.oil-price.net/

Will it go below $100????

BugsyR wrote:Will it go below $100????

(Looks into his crystal ball) Even with hurricanes storming through the Carri bean, (looks even deeper into the crystal ball) I see gasoline & home heating fuel inexplicably plummeting until..............( coming into better focus now....)...Yup......The day after the election on November 4th!!

Gotta love those legitimate, world-wide market forces!

Oil Dashboard
September, Thursday 11 2008 - 12:14:36
Crude Oil
$101.52
▼1.06 1.03%

Thanks Dick...you just jinxed it...
Back up it goes.

BugsyR wrote:Thanks Dick...you just jinxed it...
Back up it goes.

Not a chance where I live! (In Hell)

Not through election day, 11/4/2008.............& then some catastrophe will .......be made up......I mean EMERGE that will suddenly cause steep price increases again. Anyone wanna bet?..........Again?

Devil505 wrote: ...that will suddenly cause steep price increases again. Anyone wanna bet?..........Again?

No way!
I made that same prediction a while back but I say it happens after the new year...steep increase that is.


(Unless a nasty hurricane comes along prior to)

BugsyR wrote:No way!
I made that same prediction a while back but I say it happens after the new year...steep increase that is.

I was being a bit facetious when I said prices will rise the day after the election Mike. That would make some people believe that there is illegal price fixing afoot! (No.......They'll make up some cute bedtime story about why prices are going up again, & then ease the prices back up to.....the sky's the limit!

......BUT

(if we throw all the bums out on 11/4, maybe they'll get a little nervous that a new Marshal is coming to clean up Dodge City!)

The reason the price is falling in spite of Russian aggresion, hurricanes, etc. is that the speculators have left the oil market. The reduced demand and strengthening dollar are also contributing to the drop.

Oil will continue to fall as long as the demand is down.

This might help things along.

http://blogs.moneycentral.msn.com/topst ... 0of%20opec

Thank you Hugo Chavez!

I would agree that the commodities markets (oil, metals, etc.) have been declining and are being held down because of the rising dollar (propped up through PPT (Plunge Protection Team manipulation, i.e., Bernanke, Paulson and crew) and that this should continue leading up to the election. Thereafter, I fully expect to see the dollar resume its slide and commodities resume their rise in prices. The only thing that has changed in the past two months is that it has become more clear that there is a severe economic slowdown in Europe and Japan, thus the rise in the dollar in relation to the euro, the pound and the yen. Russia, India, China and Brazil, however, should lead the world to higher commodity prices because of their increasing demand for them and, more importantly, they have the actual dollars to buy them and drive the prices up, imo. The PPT can only pull out so many tricks from its magic bag until the US house of cards comes a tumbling down from its massive debts and massive fiat currency.

Manny

coaledsweat wrote:The reason the price is falling in spite of Russian aggresion, hurricanes, etc. is that the speculators have left the oil market. The reduced demand and strengthening dollar are also contributing to the drop.

Oil will continue to fall as long as the demand is down.

& I'll be willing to bet all those reasons will suddenly disappear on November 5th!

it will be $70 to $80 buy the end of the year.

It was overbought so it will probably be over sold. Then money will come back into oil and the price will most likely stabilize for a while and we may see some volatility.

Just paid $4.02 for diesel and crude was down 1.63 so far today , soon diesel will be below $4 and heating oil is like 30 cents less. The loser will be the independant oil dealer. With the amount of new and used stove installations this year there will be less demand for heating oil. My useage went from just over 100 gals a month to around 25gals. I more or less use my furnase as a hot water heater

Devil505 wrote:

BugsyR wrote:Thanks Dick...you just jinxed it...
Back up it goes.

Not a chance where I live! (In Hell)

Not through election day, 11/4/2008.............& then some catastrophe will .......be made up......I mean EMERGE that will suddenly cause steep price increases again. Anyone wanna bet?..........Again?

Boy oh boy, I bet you think Bush's *censored* don't stink and he can walk on water too

Devil505 wrote:

BugsyR wrote:Will it go below $100????

(Looks into his crystal ball) Even with hurricanes storming through the Carri bean, (looks even deeper into the crystal ball) I see gasoline & home heating fuel inexplicably plummeting until..............( coming into better focus now....)...Yup......The day after the election on November 4th!!

Gotta love those legitimate, world-wide market forces!

Sorry, supposed to be here!
Boy oh boy, I bet you think Bush's *censored* don't stink and he can walk on water too