[barbara23]

Hi, guys! Barbie reporting here on the latest news of our favorite commodities.

Oil prices rose higher on Monday ahead of OPEC's meeting this week, where the oil cartel may be considering to slash oil supplies up to 1.5m barrels a day. Similarly, last month OPEC had cut 520,000 barrels a day of supply but it did not help boost oil prices. Hence, some analysts feel the oil price may fall further, whereas, other analysts feel a stability in the oil market. Nymex November West Texas Intermediate rose $2.40 to $74.25 a barrel.

Rise in oil prices boosted gold's importance as a hedge against oil led inflation. Traders are keeping a close eye on the oil prices ahead of OPEC's meeting expecting a production cut to stabilize the oil market. Gold for December delivery rose $2.30 to settle at $790 an ounce on the Comex division of the New York Mercantile Exchange.

Cheers!

Barbie

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[ColossalContrarian]

And then fall….

$this->bbcode_second_pass_quote('barbara23', 'H')i, guys! Barbie reporting here on the latest news of our favorite commodities.

Oil prices rose higher on Monday ahead of OPEC's meeting this week, where the oil cartel may be considering to slash oil supplies up to 1.5m barrels a day. Similarly, last month OPEC had cut 520,000 barrels a day of supply but it did not help boost oil prices. Hence, some analysts feel the oil price may fall further, whereas, other analysts feel a stability in the oil market. Nymex November West Texas Intermediate rose $2.40 to $74.25 a barrel.

Rise in oil prices boosted gold's importance as a hedge against oil led inflation. Traders are keeping a close eye on the oil prices ahead of OPEC's meeting expecting a production cut to stabilize the oil market. Gold for December delivery rose $2.30 to settle at $790 an ounce on the Comex division of the New York Mercantile Exchange.

Cheers!

Barbie

[barbara23]

Hi guys! I'm in a rush now, so I will post a quick update on our favorite commodities

Monday did not see much of a change in the oil price since Friday, since trading in Asia was not in full swing, with the Japanese markets closed for a public holiday. Oil was at $66.70 a barrel for Nymex light sweet crude.

After a three day decline, gold rose as dollar steadied against the yen. Gold rose 1.4 per cent to $734.98 per ounce.

Cheers!

Barbie

{link removed by Shannymara per CoC 3.1.7}

[barbara23]

Hello guys, I hope you're getting the latest info on our favorite commodities.

Crude oil prices moved below $50 a barrel on growing global recession fears. The US jobless data was also very disappointing taking oil further down. Adding to this crisis, Goldman Sachs earlier stance that oil may go above $200 a barrel saw no upward moving price closed its oil trading recommendations. The December futures contract, which expired on Thursday, closed at $49.62 a barrel on the New York Mercantile Exchange, down $4 on the day.

With dollar and oil's fall, gold managed to stay up with demand from jewellers in India ahead of the wedding season. But analysts feel that gold's rise may actually be halted due to dollar's becoming strong. Gold for December delivery climbed $12.70 to $748.70 on the Comex division of the New York Mercantile Exchange.

Cheers!

Barbie

{link removed by Shannymara per CoC 3.1.7}

[scienceteacher]

Hey Babs - Tell us something we don't know.
We can all follow these prices by the minute online. Save your ink.

[centralstump]

$this->bbcode_second_pass_quote('scienceteacher', 'H')ey Babs - Tell us something we don't know.
We can all follow these prices by the minute online. Save your ink.

[patience]

I'm watching the dollar index very closely these days, and US bond yields.

[scienceteacher]

Central - you're so astute.

[barbara23]

Hi guys, I hope you are doing great.

Start of the week was perfect for Oil. Oil prices were above $50 a barrel but quickly fell back on continuing concerns about a sharp drop off in demand. The reversal came as OPEC looks ready to announce big cuts in output to try and revive the price of crude. But some doubt the oil cartel's ability to implement a large reductions and, even if they can, demand is still limited. Crude oil for January delivery ended down $1.77 to $44.51 a barrel on the New York Mercantile Exchange.

On Monday, gold rallied as the weaker dollar made the yellow metal more appealing as an alternative investment. Gold for February gained 0.7 percent to settle at $826.40 an ounce on the Comex division of the New York Mercantile Exchange.

Cheers!

Barbie

{link removed by Shannymara per CoC 3.1.7}

[Geodesic]

I think it's time to face reality. "Peak Oil" is BS at least for now. The oil price spike was clearly caused by a weak dollar and speculation not supply and demand as this chart shows (bottom). Oil is as cheap now as 10 years ago. http://www.dailywealth.com/archive/2009 ... tdoc=print

Edit: Moved to Open Forum: The Peak Oil discussion forum is for hydrocarbon depletion "related" discussions only. Also clarified title to reflect content of OP.-FL

[vision-master]

We thought the forests, game and minerals were endless too. Funny how the Native Americans knew better?

[flatline]

Exactly how does 4 months of economic activity supposed to paint a picture of the next 30 years??? The last time I checked the market average for the last 100 years, there was a net growth average of at least 8% in North America. Markets rise generally over time. This is undisputed. With growth, comes demand for natural resources (green or un-green).

So how is it suddenly BS? Is this how theory is shaped? By determining what happened yesterday? Do you sell/buy your mutual fund every day based on wether the market was up or down? Your RRSP/401k will be empty in no time.

This isn't how it works. I think to call something BS is to dissprove it with facts first. Time will be the truth-teller.

I think what might have suited your opinion better was to cite economic or technological factors to put forth a comment that Peak Oil is BS. Not simply because for the last 4 months, the demand for oil has been low. So what. This has happened dozens of times in the history of the marketplace, perhaps hundreds. And yet 6 months ago, oil stood at $130/barrel. In 2012, when the economy has recovered, what is to stop it from reaching $200/barrel?

[frankthetank]

Geologically...nothing has changed.

[AirlinePilot]

Anyone who points to the latest price spike and large swings as evidence that "PO is bullsh1t" does not fundamentally understand the premise of the concept. They completely ignore geology and the current state of our ability as humans to produce crude oil.

Its that simple. They need to throw off the blinders and open their minds to a broader scope of thought concerning this topic.

These threads should be summarily dismissed as nothing other than pure fomentary garbage.

[Kristen]

The two criticisms I have about it being purely based on the dollar's weakeness and speculation is...

A. Human greed has always been present, so why would they wait thrity years to pull such a hoax

B. The Dollar is just as weak as it was now but yet prices are still low.

[NoWorries]

I think the OP means to say that last summer's run-up was not a direct result of geological peak (which many of us knew at the time) but was rather due to a confluence of primarily economic factors. It was a "false peak", or an artificial inflation of oil prices-- but it gave us a taste of what lies down the road as supplies deplete.

I think the real unknown here i shte US dollar. It should be much much weaker right now than it is. One can say that is also an artificial high, just as oil was 6 mos ago. Investors are buying T-Bills (inexplicably) instead of oil as a hedge. So we've gone from one "bubble" to another, in that sense.

But that could change very quickl

[Quinny]

Thanks for your wisdom. You are obviously an expert!

$this->bbcode_second_pass_quote('Geodesic', 'I') think it's time to face reality. "Peak Oil" is BS at least for now. The oil price spike was clearly caused by a weak dollar and speculation not supply and demand as this chart shows (bottom). Oil is as cheap now as 10 years ago. http://www.dailywealth.com/archive/2009 ... tdoc=print