Oil Prices tumble - $105/barrel & dropping
05-05-2011, 05:46 AM
#1
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Oil Prices tumble - $105/barrel & dropping
Oil Prices Tumble Below $107
Crude Drops On Signs of Weak Fuel Demand - WSJ.com
Is this due in part to the death of bin Laden, or simply higher inventories & the end of speculation?
Crude Drops On Signs of Weak Fuel Demand - WSJ.com
Is this due in part to the death of bin Laden, or simply higher inventories & the end of speculation?
05-05-2011, 06:18 AM
#2
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Unemployment claims were higher than expected (474k, 4th week in a row I believe to), and Demand decreased by about 1 million barrels a day already. The economy is on shaky footing and 4 buck gas hurts everything...It takes much less of an increase for people to cut back than it did the summer of 08.
If the jobs report tomorrow is below expectations it will fall near 100.
Speculation isn't going to end.
If the jobs report tomorrow is below expectations it will fall near 100.
Speculation isn't going to end.
05-05-2011, 06:43 AM
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I'm sure a decrease in demand and a turn to alternative energy sources have the Saudis and other OPEC nations concerned about the high prices...it's in their best interest to keep it ~ $80/barrel to keep the world reliant on their oil.
05-05-2011, 06:46 AM
#4
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Oil is down, copper and iron are down, gold and platinum have started to slip, and silver dropped 20+ percent in a week.
On the other hand, pork bellies are still going strong.
Rising pork bellies prices hit all-time high | Business | The Guardian
http://www.agriculture.com/markets/a...ing_14-ar16150
On the other hand, pork bellies are still going strong.
Rising pork bellies prices hit all-time high | Business | The Guardian
http://www.agriculture.com/markets/a...ing_14-ar16150
05-05-2011, 10:18 AM
#7
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now how long before we see these prices at the pump? I think that aspect is a joke. When oil was 145+ a barrel gas was 4 bucks a gallon... oil 2-3 days ago @ 112 a barrel, gas in 4 bucks a gallon. I dont get it. And you cant say inflation, that was only 2 years ago.
05-05-2011, 10:29 AM
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Originally Posted by f16jetmech
now how long before we see these prices at the pump? I think that aspect is a joke. When oil was 145+ a barrel gas was 4 bucks a gallon... oil 2-3 days ago @ 112 a barrel, gas in 4 bucks a gallon. I dont get it. And you cant say inflation, that was only 2 years ago.
RBOB gas is down 20+ cents today
05-05-2011, 10:46 AM
#9
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Originally Posted by BlueMoon
Yea, it is a bit of a screw job. It never comes down as fast as it goes up. It'll be 2 weeks at least and into June as they are trading the June contract.
RBOB gas is down 20+ cents today
RBOB gas is down 20+ cents today
05-05-2011, 10:56 AM
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Reformulated gasoline Blendstock for Oxygen Blending = RBOB
It is the gas equivalent of the oil trade.
http://www.bloomberg.com/energy/
It is the gas equivalent of the oil trade.
http://www.bloomberg.com/energy/
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