Oil prices collapsed today, with Brent crude falling to a 6 month low below $50/barrel. US crude down 3.7% to $45, and US gasoline fell it's most in a single day in 10 months. The gasoline crack (ie. the spread between crude/gas prices) narrowed to a new low below $26. The March lows of $42 will very likely be exceeded. Technically, $32 is now a viable price target. OPEC output remains at record levels as it tries to protect market share vs. prices in it's battle with US producers. Meanwhile, thanks to Obama, sanctions against the Iranians will be lifted allowing the Iranians to further flood the market will oil (and they will because the Assohotollah needs the dough).
Originally Posted by
BenderRodriguez
Of course to play devil's advocate here, our profit sharing was at it's maximum value with C15 TA-1. When jet fuel goes back up, it will not have the value it does right now.
Your predictive skills have been proven to be worthless. Remember that.