[Leanan]

Hilarious. The price dropped $6 in half an hour. Oops. Computer problem. It's really still $95.

[simontay78]

$this->bbcode_second_pass_quote('Andrew_S', '')$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Andrew_S', 'I')t just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?

[Bas]

$this->bbcode_second_pass_quote('Andrew_S', '')$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Andrew_S', 'I')t just fell off a cliff from about 94.32 to about 87.84. Now at 89.29.
Anybody know why it fell?

[eastbay]

It's functioning properly again... $94.00 and some change.

[frankthetank]

Someone hit the sell button?

Wow. Down over $3... Not sure what the fuss is about. Back to sleep.

[Sys1]

94$ for Christmess, thanks Santa! 2007 was quite interesting for the last months, but far less than 2008 it will be...

[joewp]

It's creeping up on Christmas night, back up to $94.65 as I type. It must be that Iran or Turkey/Iraq premium, it couldn't be supply and demand, could it?

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('joewp', 'I')t's creeping up on Christmas night, back up to $94.65 as I type. It must be that Iran or Turkey/Iraq premium, it couldn't be supply and demand, could it?

[Leanan]

Above $96. I thought the bad economic news would have more effect, but so far, the worry over the Turkey air strikes cutting production is carrying more weight.

[kevincarter]

97.25 and up, I guess we are all one but one buck away from a good bedtime Opec story. Beeing Dec 27th I guess they can't say that Santa will bring it.

[Leanan]

Crude Oil Rises to a One-Month High After U.S. Inventory Drop

$this->bbcode_second_pass_quote('', 'C')rude oil rose to a one-month high after an Energy Department report showed that U.S. inventories fell more than expected.

Stockpiles declined 3.3 million barrels to 293.6 million, the lowest since January 2005, the report showed. Supplies were expected to drop 1.5 million barrels, according to the median of responses by 12 analysts in a Bloomberg News survey. Prices rose earlier because of the assassination of Benazir Bhutto, Pakistan's former prime minister.

``These numbers were bullish across the board,'' said James Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois. ``You have to add some geopolitical premium because of the news from Pakistan. It's clear we are off to the races and will probably test the record tomorrow.''

[Zardoz]

$97.44 at the moment. Meanwhile, Bloomberg says it'll drop next week:

Oil May Fall on Signs Supply Will Rise Next Year, Survey Shows

The headline is really deceptive. By "next year" they actually mean "next week".

$this->bbcode_second_pass_quote('', 'N')ine of 17 analysts surveyed, or 53 percent, said oil prices will decline through Jan. 4.

[joewp]

From that article:
$this->bbcode_second_pass_quote('', '
') The oil survey has correctly predicted the direction of prices 54 percent of the time since its introduction in April 2004.

[zzzpeakoil]

$this->bbcode_second_pass_quote('joewp', 'F')rom that article:
$this->bbcode_second_pass_quote('', '
') The oil survey has correctly predicted the direction of prices 54 percent of the time since its introduction in April 2004.

[lawnchair]

I believe $2.55 for front month RBOB (unleaded gas) is approaching the record again? And check out the futures. Happy new year, y'all, hope Santa brought you a nice big gas can and a small moped.

[dblk]

The record is about to be beaten. $98.93 and rising.

[Leanan]

I'm seeing $100 already.

[Geko45]

$this->bbcode_second_pass_quote('Leanan', 'I')'m seeing $100 already.

[DantesPeak]

Peter Beutel, who previously said that oil would not pass $98.50 and would begin a significant decline, now says oil will pass $100.

He was quite negative on oil when it was recently around $90. Makes me wonder if something has changed and word has reached these professional futures traders.

[idomar]

spot price as opposed to the future price,

wont be long now before everything says $100