[Beery1]

$this->bbcode_second_pass_quote('SteinarN', 'I')t's still a longe time left, but I'm starting to wonder if my low prediction of 85 will prove to be too low. If so, this years low will be by far the highest low price ever for a given year.

[SeaGypsy]

I think we are looking at 2008 revisited. With the added pressure of turmoil in EU and the ME, ELM starting to bite hard around the world and no real way out in sight after 10s of trillions in QE. It's still almost anyone's race IMO. Market destruction is at some point this year likely to become inevitable, but everyone grabs in to fill SPRs as soon as any weakness in prices becomes evident these days. Iran's troubles could easily see the highs of 08 tested, or the market could topple at any point on the current run up. Very interesting times.

[ColossalContrarian]

If Iran doesn't happen by July expect the price to crash...

[Cog]

Barring an economic collapse, I think you have seen the last of sub-$100/bbl oil.

[SeaGypsy]

I predicted based on the likelihood of a serious spike in WTI shy of 08 by about $16. I figure that Brent nearing $140 will happen and WTI price lag will diminish on the upward run. My bottom of $78 is based on the likelihood of a serious crash in confidence following both the consequential oil burden response and continued turmoil in all current regions under strife. My close is based on the idea that by end of northern summer, even with global markets crashing, folks will still be heating their unemployed homes 24/7 and Asia will still be busily tooting around on 100mpg scooters on average wages of $10 to $20 a day. Internal markets in Asia being poised to become the next big growth area.

[pup55]

Yes, as we all remember the situation in 2008 was such that by late May we thought we were compelled to run a separate contest in the second half of the year, because we all thought the low predictions were going to be way off, and by october the price was 33.

Lots of time left.

[Revi]

Swings like this are a sign that we're still on the plateau. If it keeps seesawing up and down that means we haven't started on the permanent downslope yet. There's always a bright side to all bad news. When oil really starts to decline then all bets are off. Ordinary people are probably going to be cut off, and there won't be an open market in oil any more.

I think my guess of 157 for a high and around $100 at the end of the year may work out this year.

[PeakOiler]

Looks like Daniel Plainview was #1 today with a new high price above $108 on Friday (?) and closing price at about $108 today. We'll have to wait and see what the EIA reports Wednesday.

The intraday high price today was flirting with $110.

Meanwhile, locally, regular unleaded gasoline prices are between $3.47 and $3.69 per gallon (depending on the gas station) and rising...

[PeakOiler]

A new high price of $109.77 was reported today, but with the closing price retreating to $106.55, Kublikhan regains the lead after Daniel Plainview took the lead for a day...



Where are the fireworks in the stands? Where's the crowd noise? Everyone have popcorn?

And those galloping hooves from four horses are kicking up some dust...

[SteinarN]

I'm up from 18th to 14th place now. However I'm still worried about my low to be to low. I'm currently about 11$ off there. I do not think the low will be set in the second half of the year.

[PeakOiler]

If the closing price was near $109 today, then Daniel Plainview is in first by a nose.

Kublikhan and Cog will remain neck to neck the entire year.

[SeaGypsy]

In a dead heat for 21st place:)

[PeakOiler]

$this->bbcode_second_pass_quote('SeaGypsy', 'I')n a dead heat for 21st place:)

[SeaGypsy]

I meant the current leaders by the end of the year

[Beery1]

When's the next update? Such a lot has been happening to the price of oil, I'm keen to see the standings.

[SteinarN]

I don't think there have been to much change since last update. The close is about the same now, not sure about the high, but I think that has not changed either.

[PeakOiler]

[ColossalContrarian]

Thanks PeakOiler, we appreciate everything you do, except, do you think you could cook the books with a little incentive?

[Cog]

Yes

Like cook the books and put me back in second place.

[Revi]

I'm happy with my 33rd place. I have grown comfortable with the back of the pack. Someday I will rise up there, but it may not be this year again. Darn. It's still early.