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Re: Another Oil price Record
Re: Another Record
by Zardoz » Tue 30 Oct 2007, 04:09:47
May I present our first $95 price:
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Indonesian Tapis Light always seems to lead the way. Others will join shortly...
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Indonesian Tapis Light always seems to lead the way. Others will join shortly...
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Zardoz - Expert
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Re: Another Record
by whereagles » Tue 30 Oct 2007, 14:19:45
Well... NYMEX and WTI is below $92 now. We can all guess tomorrow's headlines:
"Oil plunges below $92!"
"Oil plunges below $92!"
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whereagles - Tar Sands
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Re: Another Record
by Revi » Tue 30 Oct 2007, 14:22:50
This is "profit taking" according to bloomberg:
http://www.bloomberg.com/apps/news?pid= ... fer=energy
http://www.bloomberg.com/apps/news?pid= ... fer=energy
Deep in the mud and slime of things, even there, something sings.
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Revi - Light Sweet Crude
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Re: Another Record
by Cynus » Tue 30 Oct 2007, 14:29:06
I'd like to "take profits" but where would I put them? In oil?
One of these now am I too, a fugitive from the gods and a wanderer, at the mercy of raging Strife.
--Empedocles
http://apoxonbothyourhouses.blogspot.com
--Empedocles
http://apoxonbothyourhouses.blogspot.com
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Cynus - Tar Sands
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Re: Another Record
by Valdemar » Tue 30 Oct 2007, 14:40:19
$this->bbcode_second_pass_quote('whereagles', 'W')ell... NYMEX and WTI is below $92 now. We can all guess tomorrow's headlines:
"Oil plunges below $92!"
"Oil plunges below $92!"
Phew. For a minute there, I thought we were in trouble.
I love how they have such headlines on Google News when searching for "oil" stories. It's a record breaker one day, then a relieving "oil drops below record highs" the next day, as if we went from $93 back to $60.
"Nothing survives. Not your parents. Not your children. Not even stars."
-Pinbacker, Sunshine
-Pinbacker, Sunshine
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Valdemar - Lignite
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Re: Another Record
by Dan1195 » Wed 31 Oct 2007, 07:31:39
Almost certainly profit taking prior to both the inventory report and the expected rate cut.
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Dan1195 - Lignite
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Re: Another Record
by PeakingAroundtheCorner » Wed 31 Oct 2007, 09:52:27
$this->bbcode_second_pass_quote('Dan1195', 'A')lmost certainly profit taking prior to both the inventory report and the expected rate cut.
I agree. And as soon as the profit taking frenzies play out, the price surges forward again, never losing as much as it gains. In fact we're already back over $91 just now.
Two steps toward the cliff, one step back.
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PeakingAroundtheCorner - Tar Sands
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Re: Another Record
by whereagles » Wed 31 Oct 2007, 10:12:38
Indeed. You gotta sell at some stage to make a living 
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whereagles - Tar Sands
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Re: Another Record
by Dan1195 » Wed 31 Oct 2007, 11:29:14
Just checked CNBC, price jumped back over $93 ($2.50 in about 30 minutes, i take it the inventory report just came out? rather steep jump
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Re: Another Record
by Zardoz » Wed 31 Oct 2007, 12:21:11
The bull is alive and well:
IEA May Show 'Much Higher' Oil Price Assumption Next Week
$this->bbcode_second_pass_quote('', 'T')he International Energy Agency is likely to show "much higher'' oil price assumptions for 2030 in its World Energy Outlook next week, compared with its previous view on long-term prices, the agency's chief economist said.
IEA May Show 'Much Higher' Oil Price Assumption Next Week
$this->bbcode_second_pass_quote('', 'T')he International Energy Agency is likely to show "much higher'' oil price assumptions for 2030 in its World Energy Outlook next week, compared with its previous view on long-term prices, the agency's chief economist said.
Really? No kidding?
Does this mean that those wonks may actually be coming to grips with something vaguely akin to reality? Is it possible that they may be starting to pull their heads out of their butts just a tiny little bit?
Last edited by Zardoz on Wed 31 Oct 2007, 12:28:03, edited 1 time in total.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Zardoz - Expert
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Re: Another Record
by DantesPeak » Wed 31 Oct 2007, 12:24:53
Oil market closes, temporarily. Also see my post in the weekly inventory thread about a “short squeeze’ in progress.
$this->bbcode_second_pass_quote('', 'I')CE:Technical Issue Halts Trade In Some Oil Contracts
DOW JONES NEWSWIRES
October 31, 2007 11:29 a.m.
LONDON (Dow Jones)--The Intercontinental Exchange, or ICE, has closed trading in Brent, West Texas Intermediate and gasoil futures and spread markets as a result of technical issues, the exchange said Wednesday.
ICE didn't say when the contracts would begin trading again.
"All unexecuted active orders in closed markets have been held," it said in a recorded message. "For current position or deal reports please visit the ICE website. Issue updates and market reopen times will be available by email broadcast" as well as at the exchange Web site.
The technical issues follow an active period of trade in the wake of bullish U.S. weekly inventory data, released at 1430 GMT, which showed a surprise fall in crude stocks.
$this->bbcode_second_pass_quote('', 'I')CE:Technical Issue Halts Trade In Some Oil Contracts
DOW JONES NEWSWIRES
October 31, 2007 11:29 a.m.
LONDON (Dow Jones)--The Intercontinental Exchange, or ICE, has closed trading in Brent, West Texas Intermediate and gasoil futures and spread markets as a result of technical issues, the exchange said Wednesday.
ICE didn't say when the contracts would begin trading again.
"All unexecuted active orders in closed markets have been held," it said in a recorded message. "For current position or deal reports please visit the ICE website. Issue updates and market reopen times will be available by email broadcast" as well as at the exchange Web site.
The technical issues follow an active period of trade in the wake of bullish U.S. weekly inventory data, released at 1430 GMT, which showed a surprise fall in crude stocks.
DJ/WSJ
It's already over, now it's just a matter of adjusting.
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