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Re: Another Oil price Record

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Re: Another Record

Unread postby Twilight » Tue 06 Nov 2007, 23:25:48

$this->bbcode_second_pass_quote('Drifter', 'I') wonder if the peakoil.com server will crash once oil hits $100. Everyone might try to post the new $100 record at the same time. Hehe. :lol:

I hope the moderators keep the celebrations to one thread in each forum. Otherwise it's going to be a pain in the ass locating anything else the rest of the week.

Anyway, my two pence: $100 oil means the Emperor is butt naked in a window until the cognitive dissonance kicks in again.
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Re: Another Record

Unread postby Armageddon » Tue 06 Nov 2007, 23:25:50

It feels like it is dec 31st 1999 at 11:59 pm . 10,9,8,7,6 etc.
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Re: Another Record

Unread postby Leanan » Tue 06 Nov 2007, 23:34:22

Tapis now $100.05
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Re: Another Record

Unread postby Eli » Wed 07 Nov 2007, 00:08:21

98
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Re: Another Record

Unread postby DantesPeak » Wed 07 Nov 2007, 00:21:55

Oil, gold, silver pushed up by dollar comments from China:

$this->bbcode_second_pass_quote('', 'C')hina Adviser:Should Diversify Reserves To EUR,Others-Reuters

SINGAPORE -(Dow Jones)- China should diversify its $1.43 trillion in foreign exchange reserves by buying more currencies that are strong such as the euro, a senior Chinese political figure said Wednesday, according to Reuters.

"For instance, the euro is rising and the dollar is weakening, and we can achieve a better match of the two," said Cheng Siwei, vice chairman of the Chinese People's Political and Consultative Conference, according to Reuters.


Dow Jones/ FX Street
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Re: Another Record

Unread postby Cyrus » Wed 07 Nov 2007, 00:23:29

Got $98.03 on Nymex. I will try to post, to the second, if it breaks the $100 barrier.
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Re: Another Record

Unread postby Tanada » Wed 07 Nov 2007, 00:33:43

$this->bbcode_second_pass_quote('Cyrus', 'G')ot $98.03 on Nymex. I will try to post, to the second, if it breaks the $100 barrier.


If it does hit $100.00 you should expect a lot of pre set sell orders to dump contracts onto the market.
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To strive, to seek, to find, and not to yield.
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Re: Another Record

Unread postby Geko45 » Wed 07 Nov 2007, 00:41:39

$this->bbcode_second_pass_quote('Cyrus', 'G')ot $98.03 on Nymex. I will try to post, to the second, if it breaks the $100 barrier.

For posterity

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Re: Another Record

Unread postby Armageddon » Wed 07 Nov 2007, 00:48:00

$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Cyrus', 'G')ot $98.03 on Nymex. I will try to post, to the second, if it breaks the $100 barrier.


If it does hit $100.00 you should expect a lot of pre set sell orders to dump contracts onto the market.



Are you predicting a little resistance at $100.00 ?
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Re: Another Record

Unread postby Zardoz » Wed 07 Nov 2007, 01:18:20

Tapis continues to push beyond $100:

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Re: Another Record

Unread postby Geko45 » Wed 07 Nov 2007, 01:26:28

$this->bbcode_second_pass_quote('Armageddon', 'I')t feels like it is dec 31st 1999 at 11:59 pm . 10,9,8,7,6 etc.

Maybe the computer systems haven't been updated to handle three digit oil prices and the trading floor will shut down thinking oil has gone to $00. We'll never get to Peak Oil! O1D (Oil 100 Dollars) will be the end of western civilization!

:P
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Re: Another Record

Unread postby Zardoz » Wed 07 Nov 2007, 01:33:39

CNN's blurb:

Oil hits another record above $97 - Fears of dwindling stockpiles in the United States, a falling dollar and projections of strong demand push crude closer to $100.

$this->bbcode_second_pass_quote('', 'O')il prices set another record high Tuesday, jumping over $2 on fears of dwindling supplies in the United States, projections for strong worldwide demand and a falling U.S. dollar.

A suicide bombing in Afghanistan that killed at least 35 people and a pipeline attack in Yemen also helped push prices higher.

U.S. light crude for December delivery gained $2.72 to settle at $96.70 a barrel on the New York Mercantile Exchange, surpassing the previous closing high of $95.93 set Friday. Crude hit an intraday high of $97.07, surpassing the previous intraday record of $96.05, also set Friday.
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Re: Another Record

Unread postby profgoose » Wed 07 Nov 2007, 02:21:06

All I can keep saying is: "This is all so fucking surreal."
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Re: Another Record

Unread postby Zardoz » Wed 07 Nov 2007, 02:37:05

$this->bbcode_second_pass_quote('profgoose', '"')This is all so fucking surreal."

So are the long-term projection numbers in this pipe dream story:

China May Use Oil Imports for More Than Half of 2010 Supply

$this->bbcode_second_pass_quote('', 'C')hina will rely on imported crude oil for more than half of its supplies by 2010 as economic growth drives increased demand, an official from China Petroleum & Chemical Corp. said.

Imports may reach 208 million metric tons of crude, about 4.2 million barrels a day, 52 percent of demand, said Yang Yuanyi, deputy chief engineer for science and technology program at Sinopec, as China Petroleum is known. The country shipped in 163 million tons of oil and oil products in 2006, 47 percent of its needs.

Imports will increase further to 278 million tons in 2015, accounting for 59 percent of supplies, and to 362 million tons, or 64 percent, in 2020, Yang said at the Hart World Refining and Fuels Conference Asia in Beijing.

No problem! They'll have no trouble at all securing that sort of volume in 2020! Why, with all the huge new fields that'll be up and running by then, we'll all be swimming in the black stuff.

What a crock...
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