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Re: Another Oil price Record

What's on your mind?
General interest discussions, not necessarily related to depletion.
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Re: Another Record ($127.79)

Unread postby lowem » Tue 20 May 2008, 10:34:05

Whoa, the Nymex website went down for a while. Overload probably.

Think we can hit $130 this session?
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Re: Another Record ($127.79)

Unread postby Cog » Tue 20 May 2008, 10:39:46

I guess the promise of SA to boost production my 300k bbl didn't impress anyone. :lol:
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Re: Another Record ($127.79)

Unread postby lowem » Tue 20 May 2008, 10:39:47

Okay, NYMEX CSO has been updated.

$129.31 is the new record.
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Re: Another Record ($127.79)

Unread postby frankthetank » Tue 20 May 2008, 11:13:36

Gas is going to be $5 by this fall given the way things are going. We don't even need a hurricane.
lawns should be outlawed.
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Re: Another Record ($127.79)

Unread postby ohcomeon » Tue 20 May 2008, 11:15:04

I think $130 is a strong possibility.

Of course, if we close below $128.00 again all will be well in the world and we'll forget today's little jump happened. Tomorrow the markets will rise again because the oil market has "cooled".
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Re: Another Record ($127.79)

Unread postby olekriri » Tue 20 May 2008, 11:16:50

light crude: $129.13
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Re: Another Record ($129.31)

Unread postby Smudger » Tue 20 May 2008, 11:45:27

$129.46
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Re: Another Record ($129.31)

Unread postby Peleg » Tue 20 May 2008, 11:46:58

Looks like we might touch $132 - $135 by Friday
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Re: Another Record ($129.31)

Unread postby roccman » Tue 20 May 2008, 11:52:27

$this->bbcode_second_pass_quote('Drifter', 'J')eez. It seems like only yesterday when it broke $100. Now about $130. Went up quicker than most of us imagined it would.


One more dollar closer to taking $50 from Tyler.

Bring on the pain!!!
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Re: Another Record ($129.31)

Unread postby lowem » Tue 20 May 2008, 11:55:55

$129.58 !!

Come on just 42 cents further !! :lol:
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Re: Another Record ($129.31)

Unread postby canis_lupus » Tue 20 May 2008, 12:09:15

My wager with a motocross buddy:

He said $80 by Labor Day 2008
I said $120 by Labor Day 2008

...and I was worried about losing that $20!
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Re: Another Record ($129.31)

Unread postby whereagles » Tue 20 May 2008, 12:15:29

kazakhstan is turning the taps off. that must be it.........
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Re: Another Record ($129.31)

Unread postby gnm » Tue 20 May 2008, 12:20:57

$this->bbcode_second_pass_quote('roccman', '')$this->bbcode_second_pass_quote('Drifter', 'J')eez. It seems like only yesterday when it broke $100. Now about $130. Went up quicker than most of us imagined it would.


One more dollar closer to taking $50 from Tyler.

Bring on the pain!!!


You'll have to collect that in inflation adjusted dollars from whenever you made the bet. 8)

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Re: Another Record ($129.31)

Unread postby ohcomeon » Tue 20 May 2008, 12:28:03

$this->bbcode_second_pass_quote('whereagles', 'k')azakhstan is turning the taps off. that must be it.........


Yep. I saw that, too. How much do they produce and how much of it does the US buy?
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Re: Another Record ($129.31)

Unread postby Revi » Tue 20 May 2008, 12:43:16

Kazakhstan pulling the oil off the market isn't such a big thing, but it symbolizes the end of the game. Once one country pulls his oil off the market, the market does what it does. The price of rice started climbing when countries pulled it off the market. Here we go with oil.

Who's next. I think we should say that they must sell all their oil, and buy back what they need on the world market, at full price.

Do you think they'll go for that?
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Re: Another Record ($129.31)

Unread postby eXpat » Tue 20 May 2008, 12:50:00

According to this article in Yahoo Oil price hits record above $129 the market was reacting to news from France and OPEC:

$this->bbcode_second_pass_quote('', 'L')ONDON (AFP) - The price of oil rocketed to a record high 129.58 dollars on Tuesday as investors dived into a market driven higher by concerns about tight global energy supplies and strong demand.
--
The market was reacting to oil supply disruptions in France and OPEC's unwillingness to hike output, analysts said.
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Re: Another Record ($129.31)

Unread postby Revi » Tue 20 May 2008, 13:24:36

$this->bbcode_second_pass_quote('whereagles', 'k')azakhstan is turning the taps off. that must be it.........


As Borat says, "You can't have this"
Deep in the mud and slime of things, even there, something sings.
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