[timmac]

Well oil diped below $100 a barrel today, [9-12-08].

How much lower will it go before it levels out,, I bet $96.00 a barrel.

[TheDude]

$this->bbcode_second_pass_quote('Dr_Jekyll', 'B')ookmark this link http://www.oil-price.net/

[timmac]

Zoidberg wrote :
Support is in the 100-110 range. Its unlikely to dip to 90. A dip to 90 would need a significant global pullback.






Is this the global pullback, oil is now $95 a barrel.

[static66]

94.12 and falling like a stone.... we could be in the eighties by Friday. all of the speculators are going out of business.

[kublikhan]

Oil below $92

At least this prediction wasn't as funny as the post "Oil can't go above $100"

[jbrovont]

How is the MSM always on the wrong side of the call? You'd think they'd at least get it 50/50.

$this->bbcode_second_pass_quote('kublikhan', '[')url=http://www.msnbc.msn.com/id/12400801/]Oil below $92[/url]

At least this prediction wasn't as funny as the post "Oil can't go above $100"

[VMarcHart]

I shamefully admit I thought I would never ever see oil below $100. Go ahead, flame me at will.

Am I alone?

[jbrovont]

Well earlier this year another poster (sorry I don't remember - please take credit) noticed the roughly stable trend in the rate of change in the(40?) day moving daily average and using that I found k in the exponential equation and predicted something like $190+/bbl by December. Demand destruction has a cold cruel (non-linear) heart.

$this->bbcode_second_pass_quote('VMarcHart', 'I') shamefully admit I thought I would never ever see oil below $100. Go ahead, flame me at will.

Am I alone?

[karras]

Wow! $91.15 at the close today. Considering that the price has dropped about $55 in the past 2 months, I guess it is possible that it continues to fall for a bit longer. I don't want to make predictions, but I wouldn't be surprised if it hit the $60 to $70 range in the coming weeks.

Obviously, this price could not be sustained for more than a month or two since many of the unconventional crude coming online or recently put into production is not economical at prices below $70 a barrel. This will necessitate the price to go back up if it does temporarily drop even further.

It is possible that we are now in the zone of wild fluctuations predicted by so many peak oil analysts. If so, we could be looking in the rearview mirror a few years from now from the long and lonely downward slope of peak oil, reminiscing about when oil prices were below $200 and when a gallon of gas could be had for just $5.

[TonyPrep]

Something odd is going on.

Every piece of bad news (or what would have been considered bad news, in the past) seems to have had a reverse effect on the oil price. OPEC reduce production - price goes down. Gustav hits production - price goes down. Ike hits production - price goes down.

With the greater refineries hit, from Gustav and Ike, why has the gasoline wholesale price decreased? Indeed, the gasoline price seems to have declined further than the oil price, even though I've heard there have already been spot shortages. The recent rise in oil price was only partially reflected in the gasoline price. The wholesale cost of gasoline is now only a few dollars more than the cost of the raw material (crude oil) that goes into the refining process. The refiners must be making no profit, so why make it?

Although the price declines have been more dramatic this time, I seem to recall similar unusual declines before the mid-term elections in 2006.

[alokin]

It went down and nobody really had a clue why, and now it went up and you have a clue why??

[zoidberg]

$this->bbcode_second_pass_quote('timmac', 'Z')oidberg wrote :
Support is in the 100-110 range. Its unlikely to dip to 90. A dip to 90 would need a significant global pullback.






Is this the global pullback, oil is now $95 a barrel.