[Leanan]

$this->bbcode_second_pass_quote('', 'A')sk yourself this question where were all the peak oil theorists last year when oil was trading around $45? How about 2 years ago?

[therealtruth]

Pretty soon the market will sell off for whatever reason, people will realize the world is not coming to an end come to their senses and see that there is not much fundamentlly holding this prices up. I think this situation is the perfect setup for a major correction and who gets burned? All the little people who really don't have a clue about whats going on and got in late in the game! People who trusted these Hegde fund managers with their hard earned money and retirement funds.

[joewp]

$this->bbcode_second_pass_quote('therealtruth', 'A')sk yourself this question where were all the peak oil theorists last year when oil was trading around $45?

[emersonbiggins]

$this->bbcode_second_pass_quote('therealtruth', 'P')retty soon the market will sell off for whatever reason, people will realize the world is not coming to an end come to their senses and see that there is not much fundamentlly holding this prices up.

[UncoveringTruths]

$this->bbcode_second_pass_quote('therealtruth', 'P')retty soon the market will sell off for whatever reason, people will realize the world is not coming to an end come to their senses and see that there is not much fundamentlly holding this prices up. I think this situation is the perfect setup for a major correction and who gets burned? All the little people who really don't have a clue about whats going on and got in late in the game! People who trusted these Hegde fund managers with their hard earned money and retirement funds.

[DantesPeak]

$this->bbcode_second_pass_quote('Leanan', '[')url=http://money.cnn.com/2008/03/12/markets/oil_eia/index.htm]Oil prices burst record 110 dollars[/url]

$this->bbcode_second_pass_quote('', 'N')EW YORK (CNNMoney.com) -- Oil prices rebounded to another record high Wednesday afternoon after initially plummeting when a government report said supplies of crude and gasoline had risen much more than expected.

In afternoon trading, U.S. light crude for April delivery surged to a high of $110.20 before closing at $109.92. Oil had traded as low as at $107.09 following the report's release on Wednesday morning.

[emersonbiggins]

Great insight, DantesPeak. I hadn't thought of it from that angle, though I drive a diesel car, and can attest to the price increases, sometimes 20 cents in a day.

[dukey]

$this->bbcode_second_pass_quote('therealtruth', 'P')retty soon the market will sell off for whatever reason, people will realize the world is not coming to an end come to their senses and see that there is not much fundamentlly holding this prices up. I think this situation is the perfect setup for a major correction and who gets burned? All the little people who really don't have a clue about whats going on and got in late in the game! People who trusted these Hegde fund managers with their hard earned money and retirement funds.

[Gandalf_the_White]

$this->bbcode_second_pass_quote('therealtruth', 'A')sk yourself this question where were all the peak oil theorists last year when oil was trading around $45? How about 2 years ago?

[darren]

$this->bbcode_second_pass_quote('therealtruth', 'T')hese prices are pure speculation and have absolutely nothing to do with the underlying fundamentals of the market!

[meemoe_uk]

Woah, that was a fast $10 rise. I'm wondering if it is the exponential rise characteristic of demand overtaking supply. A few months ago when we broke $90, some well informed member matter of factly stated it wouldn't go past $100 for a few months, His reason involved crack spreads and tech talk. I didn't understand it. But he was right. I wonder what he thinks of the current situation. Is $120 possible before April? Or will the same crack spread stuff get in the way again till summer?

[therealtruth]

[/quote]
the oil market doesn't really work like that
it's not like the stock market
when you buy crude futures you will have to take delivery of the crude, or sell to someone who can. Therefore the likelyhood of a bubble, will be short lived at most.[/quote]



I'm just curious how you came up with the conclusion that because the oil market is not like the stock market that prices can't come down? There is nothing written in stone that says you have to take delivery on a contract! You think the average Joe speculating in oil is taking delivery on 1000 barrels of oil? I think not! In fact the whole point of speculators being in the futures market is to add liquidity to the markets so it is easy to get in and out of a contract. So you're theory is incorrect! Look I'm in the business so I've seen both sides and I'm telling you when everybody starts jumping on the bandwagon, thats when the smart money gets out and the rug gets pulled from underneath all the late comers! I've seen it happen even to Hegde Funds with billions of dollars look up Amaranth and Mother Rock see what happen to them in the energy markets!!

[Zardoz]

Indonesian Tapis now at $111.85 on the spot market.

[Gandalf_the_White]

$this->bbcode_second_pass_quote('therealtruth', '<')/div>
the oil market doesn't really work like that
it's not like the stock market
when you buy crude futures you will have to take delivery of the crude, or sell to someone who can. Therefore the likelyhood of a bubble, will be short lived at most.[/quote]



I'm just curious how you came up with the conclusion that because the oil market is not like the stock market that prices can't come down? There is nothing written in stone that says you have to take delivery on a contract! You think the average Joe speculating in oil is taking delivery on 1000 barrels of oil? I think not! In fact the whole point of speculators being in the futures market is to add liquidity to the markets so it is easy to get in and out of a contract. So you're theory is incorrect! Look I'm in the business so I've seen both sides and I'm telling you when everybody starts jumping on the bandwagon, thats when the smart money gets out and the rug gets pulled from underneath all the late comers! I've seen it happen even to Hegde Funds with billions of dollars look up Amaranth and Mother Rock see what happen to them in the energy markets!![/quote]

So you think it is coming back down? I would be surprised about that, if it pops back $5 or $10 and then creeps around between $97 and $105 for a while hows is that different than what we have now really. Certainly no different at all to the common man. Well, its a prognos, and if that is your line of sight, we'll see if it will happen. I think it will touch $115 before we see $100 again. In fact I am expecting the next two years to be the time when eveyone on earth finally admits that oil supply is not going to increase dramatically above 85 mbpd ever. That too is a hunch.

I do enjoy reading the different perspectives from people in different fields though. I have no doubt that alot of people have lost their shirts in the energy markets, and in all the markets. It is hard for an amateur to beat a professional in any field, thus we have the term pro.

[lowem]

NYMEX crude just went vertical. $110.65 and going.

Gold at $996+ and looks like it could make a run for $1000.

[kilik]

$110.68

I think we will see some profit taking around $115, but it will definitely not go below $100.

[lowem]

Crude oil just hit $110.70.

And gold just hit $1000 !!

[kilik]

$110.90

[chris-h]

111.01

http://www.livecharts.co.uk/MarketCharts/crude.php

[lowem]

Wow. Guess it didn't want to stop at $110 huh.