Here comes oil
 

It doesn't look good for oil right now. As I write, oil is up for the third straight day. It is now more than $116 after coming close to $110 two days ago. This could be a safe haven move as financials continue to fall, but I'm worried oil is about to make a comeback. Goldman Sachs just said they expect oil to go to $149. That's not good for airlines.

im curious why you didn't start a thread in the past month that said" there goes oil" as it fell more that $35? take your doom and gloom somewhere else.

Uhmmm, actually I did start a positive thread about oil going down. In fact, it had seven pages of responses. Whenever you're ready, you can offer you apology.

http://www.airlinepilotforums.com/re...ort-level.html

It moved up for a few days. OH MY GOD I'M GOING TO LOSE MY JOB. Goldman Sachs also said it was going to +$200 this fall....and they were wrong. Which leads me to believe Goldman Sachs has a tendency to overestimate oil prices in order to spread fear in the market and cash in on gulliible people like you who go solely off analyst predictions and not a variety of sources when forumlating their opinions.

In addition, we are past peak demand season, and the US economy's weakness will provide a drag on oil prices regardless of what happens in the financial sector.

I think your responder's main beef with you was that it is people like you who seem to have emotional responses to commodity price movements, and people who buy into analyst predictions who distort commodity prices (both positively and negatively). Since we are airline pilots we don't mind seeing you giddy that prices were falling, but when you start getting all panicky about prices going UP, most of us don't want to buy into that panic, lest we end up feeding those prices up on fear and not fundamentals.

Goldman Sachs has been cashing in big time on oil. They were one of the biggest fear mongers this summer helping to over inflate the price of oil in order to make money off of the sharp rises.

Oil always goes up a bit when there is a fear of a hurricane. It will probably decrease substantially after hurricane season is over.

whacker77, you deserve this, and i do apologize. however, the apology is not for the intention of my post. nicholasblonde and i seem to be on the exact same page, so refer to his post as to more of what i was implying. i dont need to tell you and im sure everyone will agree that this summer has been so ridiculous, im just about to the point right now where i could say " you know what, i could care less about what the hell is going on with oil. " i think we should be trying to keep each others heads up until things get better, which they WILL. if i want my daily dose of bad news, ill turn on cnn......

you should not have apologized

oil is down now

the dollar is getting stronger little by little

1 British Pound = 1.86 USD
1 Euro = 1.47 USD

thats way better than any previous month this year