[sparky]

.

The surge in oil price is not important , it's only stupid traders covering their loosing positions
it is of no more importance than oil dipping below 100$
but indicate an underlying strength in price around 110~120
with the winter peak demand coming , the price would rise further
we'll see how much the demand has been dampened over the coming month

.

[Bas]

$this->bbcode_second_pass_quote('DantesPeak', '')$this->bbcode_second_pass_quote('emersonbiggins', 'S')o, how does a price spike on contract closing day affect the price of oil in the near-term? Now that we've reset to the new front month at a "mere" $108, is it like today's $25 spike never happened, or what? How is this priced into the market?

[VMarcHart]

Does it mean no more NASCAR?

[DantesPeak]

$this->bbcode_second_pass_quote('Bas', '')$this->bbcode_second_pass_quote('DantesPeak', '')$this->bbcode_second_pass_quote('emersonbiggins', 'S')o, how does a price spike on contract closing day affect the price of oil in the near-term? Now that we've reset to the new front month at a "mere" $108, is it like today's $25 spike never happened, or what? How is this priced into the market?

[Bas]

funny thing is, Brent never moved beyond $105, so what is really the price of oil right now? Did someone get royally screwed over or has this been a case of market manipulation coming to light?

My first thought though was that the sudden runup had something to do with the spot shortages occuring in the US and the expectation that they might get out of control in the next few days...

[JohnDenver]

$this->bbcode_second_pass_quote('Cashmere', '')$this->bbcode_second_pass_quote('Jotapay', 'A') Swiss banker on Bloomberg TV last night was saying paper was worthless. He recommended getting gold and commodities, and he stressed PHYSICAL assets, not ETFs. He predicted gold could easily reach $2500/ounce in 2 to 3 years.

[bodigami]

...

[TheDude]

$this->bbcode_second_pass_quote('BigTex', '')$this->bbcode_second_pass_quote('TheDude', 'L')ock limit, wither is thy sting?

Everyone should check out this outstanding recent piece by Nate Hagens: Hedge Funds, Hurricanes and Energy Markets.

[DantesPeak]

Never heard of the DOE being authorized to buy any energy products except for the SPR and a heating oil reserve, and some other minor reserves.

However the DOE has authority allocate interstate shipments of energy products, such as through pipelines or inter-state barges, although I'm not sure if they would be able to control foreign gasoline imports.

The CFTC can control contract limits although that doesn't seem to have much influence on trading.

[yesplease]

And there goes WTI...

[barbara23]

Hi, traders! There are many who say that commodities are not related to each other, but in the case of Oil and Gold surely they are! The recent volatility has shown proof of that.

Crude fell after dollar rose, taking gold higher. Other commodities were boosted over rising oil prices. Crude oil for November delivery fell by more than a dollar and a half to sit below $108 a barrel.

Gold was moderate yesterday after US government bailout plan. Spot gold was at $889.90/891.90 an ounce by 0856 GMT, down 1 percent from $900.20 an ounce at the nominal New York close on Monday.

I hope to hear (or read) your impressions for this week

Cheers!

Barbie

{link removed by Shannymara per CoC 3.1.7}

[JPL]

$this->bbcode_second_pass_quote('barbara23', 'H')i, traders! There are many who say that commodities are not related to each other, but in the case of Oil and Gold surely they are! The recent volatility has shown proof of that.

Crude fell after dollar rose, taking gold higher. Other commodities were boosted over rising oil prices. Crude oil for November delivery fell by more than a dollar and a half to sit below $108 a barrel.

Gold was moderate yesterday after US government bailout plan. Spot gold was at $889.90/891.90 an ounce by 0856 GMT, down 1 percent from $900.20 an ounce at the nominal New York close on Monday.

I hope to hear (or read) your impressions for this week

Cheers!

Barbie

[bodigami]

...

[Micki]

$this->bbcode_second_pass_quote('barbara23', 'H')i, traders! There are many who say that commodities are not related to each other, but in the case of Oil and Gold surely they are! The recent volatility has shown proof of that.

Crude fell after dollar rose, taking gold higher. Other commodities were boosted over rising oil prices. Crude oil for November delivery fell by more than a dollar and a half to sit below $108 a barrel.

Gold was moderate yesterday after US government bailout plan. Spot gold was at $889.90/891.90 an ounce by 0856 GMT, down 1 percent from $900.20 an ounce at the nominal New York close on Monday.

I hope to hear (or read) your impressions for this week

Cheers!

Barbie

[barbara23]

Hi guys! A quick report on the status of our favorite commodities: Crude oil had a disappointing day on Monday, as it fell below $90 a barrel level. The global financial crisis has also affected the commodities, especially energy prices.

As dollar moved higher against the euro and oil prices lower, gold retreated to a two-week low. Gold for December delivery closed down $11.10 at $833.20 an ounce on the Comex division of the New York Mercantile Exchange.

Cheers!

Barbie

{link removed by Shannymara per CoC 3.1.7}

[smallpoxgirl]

The only reason that oil has fallen in the last few weeks is that the dollar has gone haywire as people scramble to liquidate capital. Here very shortly the liquidations will taper off, the dollar will drop, and oil will go back up.

[seahorse2]

You must be high, gold closed at $883 today, which is up about $20 over yesterday.

[mefistofeles]

I think oil is definitely an overlooked powerplay. With peakoil and peak finance the implications are that we could get hit with substantial oil drop as credit contracts.

However the biggest bull factor for oil is the dollar. They're already talking about a second bailout.

Once the dollar tanks oil could go up alot.

Gold is always a safe play.

I'm heavily invested in oil, waiting for the dollar to weaken. I suspect that oil will improve substantially once the Europeans get their s*it together.

For the immediate term I'm bearish on the Euro. However I think the Europeans will ultimately come up with a much better plan than the US.

I think its admirable that the Europeans haven't succumbed the same pressure to attempt a continent wide bank check bailout. Although any solution to the banking problems in the Euro Zone will probably take a while.

Oil and Gold are the anti dollar. Once the Treasury attempts to save the commercial paper markets the dollar could be in real trouble. This may be a superb opportunity to buy gold and oil.

[evilgenius]

In a deflationary environment the few dollars that are left are much more valuable. Even with less oil the remaining dollars will buy more per dollar, for a while. We all know there is only so much in the ground.

What they have to do now is figure out how to get the holders of the national debt (that future generations of Americans owe) to take some kind of pennies for dollars settlement, or that debt will grow according to the same principle. Pennies for dollars is preferable to nothing at all and in a deflationary environment amounts to preservation of capital. Much of that debt is already gone due to it being held by hedge funds and other private mostly off-shore entities that have been wiped out. The amount, however, held by governmental and quasi-governmental entities won't be so easy to liquidate. Those entities will have to be given something.