[PeakingAroundtheCorner]

I would just like to get you guys' thoughts on why we went from an open nearly $2 up to 117 to being down nearly $5 just as the hurricane is pounding the GoM production facilities?

We're about to break throgh the 200-day moving average and what happens if it breaks that resistance?

I just don't get it.

[firestarter]

Speculators don't only get it wrong on the way up.

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('firestarter', 'S')peculators don't only get it wrong on the way up.

[firestarter]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', '[')quote="firestarter"Speculators don't only get it wrong on the way up.

[CelticCross]

With refineries and the LOOP down we are using less foreign oil. If we can't take it the rest of the world will have excess supply.

US gas prices should go up even as world oil prices decline.

[BigTex]

For those with conviction based upon their understanding of fundamentals, this may be yet another great buying opportunity.

For speculators, this must be a nightmare.

[davep]

$this->bbcode_second_pass_quote('BigTex', 'F')or those with conviction based upon their understanding of fundamentals, this may be yet another great buying opportunity. For speculators, this must be a nightmare.

[firestarter]

$this->bbcode_second_pass_quote('davep', '')$this->bbcode_second_pass_quote('BigTex', 'F')or those with conviction based upon their understanding of fundamentals, this may be yet another great buying opportunity. For speculators, this must be a nightmare.

[BigTex]

$this->bbcode_second_pass_quote('firestarter', '')$this->bbcode_second_pass_quote('davep', '')$this->bbcode_second_pass_quote('BigTex', 'F')or those with conviction based upon their understanding of fundamentals, this may be yet another great buying opportunity.For speculators, this must be a nightmare.

[MD]

Never give up! Never surrender!

[Tanada]

$this->bbcode_second_pass_quote('MD', 'N')ever give up! Never surrender!

[CarlosFerreira]

Most pressure will probably be upwards - there was a steep climb, some descent, and not it's holding despite the hurricanes in GoM because it has climbed too high. Futures are falling, but not much.

Russia invades Ossetia, Hurricanes damaging production facilities, and still it holds? It was probably too high, and everyone got cold feet...

[Iaato]

Galaxy Quest was a very entertaining movie.

I have never seen a hurricane make landfall where the MSM didn't downplay the damage for the first 36 hours and suggest that damage wasn't as bad as suggested. I've been through a few, and you can't really tell about the damage until you start moving around on the ground afterwards.

Speculators as a herd are idiots.

[CelticCross]

Gulf refineries process around 6.4 MBD and much of that is shut down.

Our Gulf production is about 2.36 MBD

For the time being we are not taking as much oil from the world markets as we normally would.

So, if the world oil market is currently over-supplied by even 2 MBD, why would anyone expect the price of oil to go up in the short term?

[smallpoxgirl]

$this->bbcode_second_pass_quote('CelticCross', 'S')o, if the world oil market is currently over-supplied by even 2 MBD, why would anyone expect the price of oil to go up in the short term?

[CelticCross]

I believe we import a lot of natural gas and gasoline in the gulf ports as well. I am not sure about heating oil.