[mgibbons19]

OMG that's too funny.

[lowem]

$114.49

All Hail Triple Yergin Day.

[lowem]

$114.51

Thread title needs updating ..

[bl00k]

http://www.upstreamonline.com/market_da ... arkets_oil
$121,62 Tapis

So i assume Tapis is some awesome kind of oil?

[Leanan]

Tapis is a high-quality oil, but it's also expensive due to infrastructure reasons. It's sold in Asia, where supply has been tighter than in the rest of the world.

Oil is not perfectly fungible. There isn't a pipeline from Ghawar to Singapore. Tankers, ports, etc. have limited capacity. You can't just send the oil you usually send to the US to Asia because the price is better.

IMO, this is why the Saudis have been selling oil to the US at a discount. It's not to make nice with us, or because Bush is twisting their arms. They'd send it to Asia if they could, but either there aren't enough tankers, or it would be so expensive that it's not worth it.

[bl00k]

Thanks for clearing that up, Leanan.

[lowem]

$114.95

We're well into the potential $110-120 trading range.

Will it punch through $120 resistance?
Will it pull back?

Stay tuned for the next exciting episode of "NYMEX Sessions".

[frankthetank]

Hold on your to weiner boys. This could get bumpy. I'm getting engorged just watching these 3 digit numbers climb !!1

[PeakingAroundtheCorner]

Down a buck and change!

WTF???

[idomar]

is there any reason for the $2 down tick from the high?

Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road?

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('idomar', 'i')s there any reason for the $2 down tick from the high?

Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road?

[Gandalf_the_White]

You guys are worrying about nothing. The pressure is upwards, $120 by Memorial Day, I might even go $130 in a crazy spike that will frighten everyone.

[gnm]

$this->bbcode_second_pass_quote('Gandalf_the_White', 'Y')ou guys are worrying about nothing. The pressure is upwards, $120 by Memorial Day, I might even go $130 in a crazy spike that will frighten everyone.

[emersonbiggins]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', '')$this->bbcode_second_pass_quote('idomar', 'i')s there any reason for the $2 down tick from the high?

Did someone open the SPR? find a huge deposit somewhere? ban all cars from the road?

[smallpoxgirl]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', 'R')ight? This is making me look like a fool on another board. It's bad enough we have a new peak, which is making us all look like crackpots.

[dunewalker]

Now they're practically giving the stuff away! It's "down" in the $112 range. So easily we become jaded with "extremes"!

[nth]

The whole idea that this is speculator driven is bs when you actually have oil refineries paying high prices to buy real oil. Real oil deliveries are still going up. This bull has legs.

[idomar]

$this->bbcode_second_pass_quote('smallpoxgirl', 'Y')eah. For the first year or so I was on this site, I worried it was all BS. Back then oil was $40 a barrel. I stopped worrying a while ago. Be patient. Commodities fluctuate up and down in the short term. In the long term, it's going no where but up.

[lowem]

Now what's all this panicking about?
$112 too low for the crowd here?

livequotes shows us on a nice recovery back up above $113.60 again!

[smallpoxgirl]

$this->bbcode_second_pass_quote('idomar', ''')The laws of supply and demand state that: If the availabilty of a item becomes more scarce, then the price will increase until equilibrium is restored