PeakOil is You
Crude price record ($ 147.27) pt 2
Re: Another Record ($147.27) (crude oil prices)
by lowem » Sat 25 Jul 2009, 22:49:29
$this->bbcode_second_pass_quote('DoomWarrior', '.').. now inching past $68/bbl ...
$75 is the next level I'll be watching closely if it breaks above $70. Let's see if we get that coming Monday or if we get an anti-climax instead
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Re: Another Record ($147.27)
by Tanada » Tue 06 Jan 2015, 14:38:01
$this->bbcode_second_pass_quote('rdsaltpower', 'O')il traded below 34.00 today.
This was the lowest comment I could find about the 2008-2009 price crash, December 19, 2008.
Anyone think we will get down below $34.00/bbl this time around?
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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Re: Crude price record ($ 147.27) pt 2
by Pops » Tue 06 Jan 2015, 15:35:09
Really, there is no rational reason for it to be any price as shown by the long run of high price and the large drop lately. If there were, there would be no futures markets. If there were an equation that showed what the price should be, rather than simply "what the market will bear" a whole bunch of gamblers money managers, futures traders, hedgers and even producers would be out of work.
All prices, current and forward, take the present and the future into consideration. Even current spot prices not only reflect the actual conditions right now, they too are an attempt to gauge the market tomorrow.
So there is a lot of gambling that goes on even with spot prices. I bet we'll start to see storage filling up as deep pockets buy and hold hoping fopr a better price tomorrow.
All prices, current and forward, take the present and the future into consideration. Even current spot prices not only reflect the actual conditions right now, they too are an attempt to gauge the market tomorrow.
So there is a lot of gambling that goes on even with spot prices. I bet we'll start to see storage filling up as deep pockets buy and hold hoping fopr a better price tomorrow.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Re: Crude price record ($ 147.27) pt 2
by Tanada » Tue 06 Jan 2015, 15:57:07
$this->bbcode_second_pass_quote('Pops', 'R')eally, there is no rational reason for it to be any price as shown by the long run of high price and the large drop lately. If there were, there would be no futures markets. If there were an equation that showed what the price should be, rather than simply "what the market will bear" a whole bunch of gamblers money managers, futures traders, hedgers and even producers would be out of work.
All prices, current and forward, take the present and the future into consideration. Even current spot prices not only reflect the actual conditions right now, they too are an attempt to gauge the market tomorrow.
So there is a lot of gambling that goes on even with spot prices. I bet we'll start to see storage filling up as deep pockets buy and hold hoping fopr a better price tomorrow.
All prices, current and forward, take the present and the future into consideration. Even current spot prices not only reflect the actual conditions right now, they too are an attempt to gauge the market tomorrow.
So there is a lot of gambling that goes on even with spot prices. I bet we'll start to see storage filling up as deep pockets buy and hold hoping fopr a better price tomorrow.
As a history lover I want to see where we were as part of my guess about how we got where we are and where we will be later on LOL.
We went from the all time high ($ 147.27) on or around July 11, 2008 to the modern low ($ 34.00) on December 18, 2008 just over five months later. The current mess really took off around Thanksgiving when OPEC met last fall and prices have fallen 50 percent in what, ten weeks?
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
- Tanada
- Site Admin
- Posts: 17094
- Joined: Thu 28 Apr 2005, 03:00:00
- Location: South West shore Lake Erie, OH, USA
