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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 04, 2007 8:01 am Post subject: Crude below EDIT(2): $51 |
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So, in another large drop, Crude has fallen below 57 on NYMEX.
Enjoy your soon to be "less expensive" gas.
That is all. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006
Last edited by chavez on Jan 18, 2007 8:00 am; edited 3 times in total |
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J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
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Posted: Jan 04, 2007 8:39 am Post subject: |
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It happened about 3 months ago for Dec delivery and I didn't see any drop in prices. _________________ Steal My Book
Read My Blog
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 04, 2007 9:13 am Post subject: |
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J-Ro, Holiday driving season. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
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Posted: Jan 04, 2007 11:11 am Post subject: |
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chavez, There's alway some sort of "Season" _________________ Steal My Book
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oshensurfer PityDaFool Who Posts This Much
Joined: 14 Aug 2003 Posts: 6325
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Posted: Jan 04, 2007 12:00 pm Post subject: |
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J-Ro,
Yep. Spring break "season" is about to begin, then Memorial day "Season", then summer driving "season". Fuggers.
I love the 5 cent drop to raise it 20, next month.
I've got a question:
What percentage of alternative fuel vehicles do you think it will need to be for gas to really drop? _________________ (insert funny chit here) |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 04, 2007 1:06 pm Post subject: |
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J-Ro, oshensurfer, over the next several weeks we should see anywhere from 25-30 cent drop. It won't climb again until Memorial Day (unless some serious global unrest goes down between now and then).
Crude will bounce in the 57-61 range until then as well.
That is my "prediction" anyway. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 11, 2007 11:01 am Post subject: |
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My prediction was way off. We are at 52.35 and dropping..... _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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ontrider Ladies Man
Joined: 30 Jul 2003 Posts: 16491 City: Russia
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Posted: Jan 11, 2007 11:16 am Post subject: |
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chavez, two thumbs up!
If I ever need investment advice... |
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eich82 Addict
Joined: 13 Jan 2003 Posts: 860 City: MTP
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Posted: Jan 11, 2007 11:32 am Post subject: |
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I believe it's nearing a bottom...more likely to break through 60 again than 50. OPEC is going to cut production and reduce supply. Oddly enough the broad market will probably react negatively to any further decline, viewing it as a sign of a slowing global economy rather than an ease of the pockets of consumers...IMO |
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J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
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Posted: Jan 11, 2007 12:53 pm Post subject: |
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eich82, I disagree. Unless there is a major cold snap in the Northeast, oil will continue to decline. I see OPEC cutting a little but it would be too little too late and short lived with Spring around the corner. I think we will settle in around $55 for a while but may see high forties if the weather continues. _________________ Steal My Book
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eich82 Addict
Joined: 13 Jan 2003 Posts: 860 City: MTP
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Posted: Jan 11, 2007 1:11 pm Post subject: |
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J-Ro, The cold will eventually come, it may be late but eventually it will be here. It may be a while before it hits 60 again (it will probably be stuck in a range around 53-57 until spring) but I believe a bottom is going to be reached, helped along by OPEC... |
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J-Ro PityDaFool Who Posts This Much
Joined: 13 Jan 2003 Posts: 5662 City: Rocklin
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Posted: Jan 11, 2007 1:25 pm Post subject: |
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eich82, But the problem is theres a huge supply because of the weather. A supply that can last past Spring. Once it's out there, you can't put it back in the well. _________________ Steal My Book
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 16, 2007 2:40 pm Post subject: |
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Bounced under 51 today..... _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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oshensurfer PityDaFool Who Posts This Much
Joined: 14 Aug 2003 Posts: 6325
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Posted: Jan 16, 2007 5:07 pm Post subject: |
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chavez,
Still $2.15..... _________________ (insert funny chit here) |
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Wakebrad Ladies Man
Joined: 11 Dec 2003 Posts: 12257 City: Dallas
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Posted: Jan 16, 2007 6:42 pm Post subject: |
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Should be below $2.00 a gallon soon!
GiddeyUp _________________ You have just entered the twilight zone. |
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oshensurfer PityDaFool Who Posts This Much
Joined: 14 Aug 2003 Posts: 6325
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Posted: Jan 17, 2007 6:50 am Post subject: |
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Wakebrad, STOP RUINING MY FUN!!!!!! _________________ (insert funny chit here) |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 17, 2007 8:06 am Post subject: |
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oshensurfer, we are going to stick around $2.50 here for another week or so. Refineries are coming back online after the "holiday maintenance". The only thing that is going to slow it down here for us is the fire they had at the Chevron refinery over the weekend.
Plenty of oil there, just no extra capacity to refine... yet.
It should drop pretty steeply once that capacity is back online. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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oshensurfer PityDaFool Who Posts This Much
Joined: 14 Aug 2003 Posts: 6325
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Posted: Jan 17, 2007 9:08 am Post subject: |
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I hope so.
Actually it's $2.19 today at the Chevron next door to my office. Fuggers. _________________ (insert funny chit here) |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 17, 2007 9:26 am Post subject: |
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oshensurfer, it all depends on the "local" refiners right now. I'd expect you guys to drop before us. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 18, 2007 8:00 am Post subject: |
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Crude is off 1.80+ and is in the low 50.xx range.... _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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ontrider Ladies Man
Joined: 30 Jul 2003 Posts: 16491 City: Russia
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Posted: Jan 18, 2007 8:15 am Post subject: |
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Prediction $48 |
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chavez Ladies Man
Joined: 22 Sep 2003 Posts: 27375 City: Roseville
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Posted: Jan 18, 2007 12:57 pm Post subject: |
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ontrider, well, it got below $50. Hit $49.90 in intraday trading.
If it runs toward $48, it will probably spike even lower. The support is somewhere just below the $50 mark from what I understand. $48 would be a big break through that support level and would probably trigger additional selling. _________________
Quote: | That's Mr. Gingermex to you a$$hole. |
RIP MHL 04/25/1958 - 01/11/2006 |
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