[Cashmere]

. . . in electronic trading before open outcry.

This is going to be one fascinating week.

If KSA announces a "major" production increase next month and the markets continue to move higher . . .

. . .

Then the bluff has been called and it's game over.

Batten down the hatch maties, it's going to be a very rough stretch.

[MD]

$this->bbcode_second_pass_quote('Drifter', 'P')retty soon empty words won't be enough to lower oil prices any more.

[MD]

$this->bbcode_second_pass_quote('Drifter', '.')..

Less than a dollar drop after the recent Saudi 500,000 bpd production increase announcement doesn't count?

[charliehelyes]

oil is back up by over a dollar at $135.50 now so

[Micki]

Oil up now (looking at Brent) 30cents. Gold up $8



edited;
and had a look at US light July contract and it is up 60+ cents

[Niagara]

So my spooky-eye emoticon might be justified in my post last week

http://www.peakoil.com/post690184.html#690184

[Micki]

Wov, next look oil was up over $3.
Brent was at one point over $140.
If this is the summer doldrums, the autumm is going to be a ride.

[Cashmere]

17 days? 17 days? I don't mean to rain on your parade, but we're not going to last 17 hours.


I'm not convinced that we're making it to the Fall.

If we're going up 3 bucks a day, I see .gov intervention way before the Fall. Or is that, the fall?

[cipi604]

Even IF they increase the production by 500.000 bpd that won't help much.

[Hartmann]

500.000 bpd to burn as kick as possible in the market and feed the continuous increase of the demand.

i doubt that prices go down again , the only effect is delay the super spike and the final collapse. the production not could be raised anymore if the fields are depleting .

[alecifel]

$this->bbcode_second_pass_quote('Cashmere', ' ') If we're going up 3 bucks a day, I see .gov intervention way before the Fall. Or is that, the fall?

[Cashmere]

.gov intervention that I see . . .

at some price in oil - - -

Pass emergency legislation forcing caps in the NYMEX on how much a commodity can move in a given period.

or

Pass a bevy of laws attempting to control who's investing in oil - e.g. - you can't buy oil unless you intend to take delivery.

or

Pass a "windfall profits" tax to make investing in oil unattractive.

or

Put economic/military pressure on oil producers to produce more and/or lower price or face retaliatory U.S. action.


Any one or more of which will result in the faster onset of shortages.


Chocolate rations going up to 15 ounces people. 15 ounces.

[DantesPeak]

$this->bbcode_second_pass_quote('Micki', 'O')il up now (looking at Brent) 30cents. Gold up $8



edited;
and had a look at US light July contract and it is up 60+ cents

[MD]

$this->bbcode_second_pass_quote('DantesPeak', '
')
It will be hard to keep the price of oil down in these circumstances.

[copious.abundance]

$this->bbcode_second_pass_quote('Cashmere', '.') . . in electronic trading before open outcry.

This is going to be one fascinating week.

If KSA announces a "major" production increase next month and the markets continue to move higher . . .

. . .

Then the bluff has been called and it's game over.

Batten down the hatch maties, it's going to be a very rough stretch.

[DantesPeak]

$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('Cashmere', '.') . . in electronic trading before open outcry.

This is going to be one fascinating week.

If KSA announces a "major" production increase next month and the markets continue to move higher . . .

. . .

Then the bluff has been called and it's game over.

Batten down the hatch maties, it's going to be a very rough stretch.