[barbara23]

Hi guys! It seems that Oil will be falling these days and probably we will see a barrel for less than $100, just like a year ago.
Oil fell below $120 a barrel , for the first time after May on Monday, as new data showed that consumers are slowing down their consumption of energy to curb high inflation costs. The Federal Reserve's meeting on Tuesday also cause some anxious moments for investors who may be expecting a rise in borrowing rates to curb inflation, but analysts feel that it may not be an option.

US crude for September delivery fell $3.69 to settle at $121.41 a barrel on the New York Mercantile Exchange.
Cheers!
Barbie

{link removed by Shannymara per CoC 3.1.7}

[heroineworshipper]

Time to get an RV.

[timbo]

It may be demand destruction causing the drop in price but it is more likely to be part of the series price spikes to be expected during the plateau phase of peak oil.

The other factor here is the collapse in value of the $US.

The number of factors involved complicates the picture but there definitely seems to be an upward trend over time.

[jackal42]

Something to do with the Olympics?

[Ferretlover]

Enjoy it while you can.

[alokin]

That's what I'm thinking since some days there's something with the Olympics.
The Dollar is up why - the Chinese?
At least around Peking they're using less fuel as lots of factories were shut down and cars were taken off the roads.
But maybe there is a manipulation of the Chinese as well as they want to give a perfect show. (And they could show the world who is in charge of the oil price and the dollar). But this is pure speculation, I have no facts to support this.

We will se after the games - besides when are they over?

[heroineworshipper]

China did shut down half its gasoline consumption for the olympics. You can't say that in the media because it might slow down advertising sales.

[mefistofeles]

Personally I think the US data is simply too different from the rest of the world and is skewing oil pricing downwards. Iran and Saudi Arabia have suspended fuel oil exports.

For some reason we had build ups of diesel inventory here in the US, yet other countries at least Saudi Arabia and Iran seem to be running into shortages.

Personally I think this has created a "false picture" of what's really happening to the energy markets.

Saudi Arabia and Iran suspend fuel oil exports

[Starvid]

Call me when we return to the $22-28 price band.

Remember when prices collapsed last summer after reaching the "ridicuolus" level of $78?

[DantesPeak]

$this->bbcode_second_pass_quote('mefistofeles', 'F')or some reason we had build ups of diesel inventory here in the US, yet other countries at least Saudi Arabia and Iran seem to be running into shortages.

[frankthetank]

Starvid hit it... I still remember a year ago from this past Feb when i filled up some jugs when gasoline was $2/gallon. LONG ways to go.

[energycity]

$this->bbcode_second_pass_quote('heroineworshipper', 'C')hina did shut down half its gasoline consumption for the olympics. You can't say that in the media because it might slow down advertising sales.

[dunewalker]

$this->bbcode_second_pass_quote('barbara23', 'H')i guys! It seems that Oil will be falling these days and probably we will see a barrel for less than $100, just like a year ago.
Oil fell below $120 a barrel , for the first time after May on Monday, as new data showed that consumers are slowing down their consumption of energy to curb high inflation costs. The Federal Reserve's meeting on Tuesday also cause some anxious moments for investors who may be expecting a rise in borrowing rates to curb inflation, but analysts feel that it may not be an option.

US crude for September delivery fell $3.69 to settle at $121.41 a barrel on the New York Mercantile Exchange.
Cheers!
Barbie

[Lanthanide]

$this->bbcode_second_pass_quote('jackal42', 'S')omething to do with the Olympics?

[DantesPeak]

$this->bbcode_second_pass_quote('Lanthanide', '')$this->bbcode_second_pass_quote('jackal42', 'S')omething to do with the Olympics?

[Forney2008]

$this->bbcode_second_pass_quote('heroineworshipper', 'C')hina did shut down half its gasoline consumption for the olympics. You can't say that in the media because it might slow down advertising sales.

[Forney2008]

$this->bbcode_second_pass_quote('', 'O')n the price run-up to $147 - this was probably caused by buying of futures contracts by SemGroup. Sem had bet on prices to fall and was forced to close out losing positions by buying at higher prices:

[DantesPeak]

$this->bbcode_second_pass_quote('Forney2008', '')$this->bbcode_second_pass_quote('', 'O')n the price run-up to $147 - this was probably caused by buying of futures contracts by SemGroup. Sem had bet on prices to fall and was forced to close out losing positions by buying at higher prices:

[nobodypanic]

so in other words speculation does affect the price of oil?

[DantesPeak]

$this->bbcode_second_pass_quote('nobodypanic', 's')o in other words speculation does affect the price of oil?