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sparky
Heavy Crude
Joined: Apr 09, 2007
Posts: 119
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 Posted: Fri Jun 27, 2008 3:23 am Post subject: Re: Another Record ($140.39) |
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The west Texas intermediate bench mark is bogus , as a grade of oil it's an obsolescence . same with Brent ,
the stuff doesn't exist anymore both are a blend of other light crudes .
The problem with the NYMEX trading is that now there is a real post peak in top crude
the usual crude available is heavier and sour ( sourer ? ) much closer to the OPEC basket mix .
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charliehelyes
Heavy Crude
Joined: Mar 27, 2005
Posts: 105
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| Posted: Fri Jun 27, 2008 4:22 am Post subject: Re: Another Record ($140.39) |
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| $141.44!! |
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something_awfull
Heavy Crude
Joined: Aug 13, 2005
Posts: 262
Location: Sydney, Australia.
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| Posted: Fri Jun 27, 2008 4:36 am Post subject: Re: Another Record ($140.39) |
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| charliehelyes wrote: | | $141.44!! |
meh, just plunged back to $141.35  |
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something_awfull
Heavy Crude
Joined: Aug 13, 2005
Posts: 262
Location: Sydney, Australia.
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| Posted: Fri Jun 27, 2008 4:37 am Post subject: Re: Another Record ($140.39) |
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| something_awfull wrote: | | charliehelyes wrote: | | $141.44!! |
meh, just plunged back to $141.35 |
Nope, now $140.97 |
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charliehelyes
Heavy Crude
Joined: Mar 27, 2005
Posts: 105
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| Posted: Fri Jun 27, 2008 5:32 am Post subject: Re: Another Record ($140.39) |
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| $142.29 |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1115
Location: Singapore
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| Posted: Fri Jun 27, 2008 6:40 am Post subject: Re: Another Record ($140.39) |
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NYMEX CSO says $142.26 high for the front-month Aug 2008 delivery. Nov and Dec 2008 delivery have hit $143.00.
Simply incredible - I come back home from work to yet another record.
It was $133-134 just a day ago.
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http://www.post1.net/lowem/page/livequotes |
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 5161
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| Posted: Fri Jun 27, 2008 6:46 am Post subject: Re: Another Record ($140.39) |
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142.26 overnight
_________________
"I was born in a deep forest
I wish I could live here all my life
I am made from stones and roots
My home, these woods and roads
All my life I loved this sound
Of the woods all around
Eagles fly where the winds blow free" -Korpiklaani |
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vision-master
Fusion
Joined: May 18, 2006
Posts: 3904
Location: Minneapolis, MN
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| Posted: Fri Jun 27, 2008 7:20 am Post subject: Re: Another Record ($140.39) |
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| smallpoxgirl wrote: | | 142.26 overnight |
When will these prices be reflected at the pump? Are these kind of crude prices = $6 gal gas? |
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Armageddon
Fission
Joined: Apr 13, 2005
Posts: 2840
Location: St.Louis, Mo
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| Posted: Fri Jun 27, 2008 7:25 am Post subject: Re: Another Record ($140.39) |
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| vision-master wrote: | | smallpoxgirl wrote: | | 142.26 overnight |
When will these prices be reflected at the pump? Are these kind of crude prices = $6 gal gas? |
The national average is still under $4.00. It may surge to $4.25-4.30 in the next week if $140.00+ sticks. |
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vision-master
Fusion
Joined: May 18, 2006
Posts: 3904
Location: Minneapolis, MN
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| Posted: Fri Jun 27, 2008 7:30 am Post subject: Re: Another Record ($140.39) |
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| Armageddon wrote: | | vision-master wrote: | | smallpoxgirl wrote: | | 142.26 overnight |
When will these prices be reflected at the pump? Are these kind of crude prices = $6 gal gas? |
The national average is still under $4.00. It may surge to $4.25-4.30 in the next week if $140.00+ sticks. |
Yesterday I mentioned the 11 cent wholesale gas price increase at my local station. The counter guy said he just got off the phone with his boss. P'boly we will see $.20 increase today I was told! |
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 5161
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| Posted: Fri Jun 27, 2008 7:31 am Post subject: Re: Another Record ($140.39) |
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| vision-master wrote: | | smallpoxgirl wrote: | | 142.26 overnight |
When will these prices be reflected at the pump? Are these kind of crude prices = $6 gal gas? |
Well...a barrel of crude is 42 gallons. So crude is currently selling at 3.39 a gallon.
_________________
"I was born in a deep forest
I wish I could live here all my life
I am made from stones and roots
My home, these woods and roads
All my life I loved this sound
Of the woods all around
Eagles fly where the winds blow free" -Korpiklaani |
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Duende
Heavy Crude
Joined: Nov 27, 2004
Posts: 174
Location: Federal City, USA
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| Posted: Fri Jun 27, 2008 7:44 am Post subject: Re: Another Record ($142.26) |
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Armageddon wrote:
| Quote: | | The national average is still under $4.00. |
Depends where you check the averages, I guess. Gasbuddy has it stuck at $4.07 for over a week now.
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Business as usual is about to get unusual. |
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JJ
Heavy Crude
Joined: Aug 07, 2007
Posts: 290
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| Posted: Fri Jun 27, 2008 7:44 am Post subject: Re: Another Record ($142.26) |
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| called my boss. old news. ho-hum. |
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mcgowanjm
Tar Sands
Joined: May 23, 2008
Posts: 62
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| Posted: Fri Jun 27, 2008 8:17 am Post subject: Re: Another Record ($140.39) |
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| smallpoxgirl wrote: | | vision-master wrote: | | smallpoxgirl wrote: | | 142.26 overnight |
When will these prices be reflected at the pump? Are these kind of crude prices = $6 gal gas? |
Well...a barrel of crude is 42 gallons. So crude is currently selling at 3.39 a gallon. |
Come to the conclusion that gasoline is toxic waste.
Big Oil getting enough to cover disposal costs.
Because no one is making money off of it. |
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mcgowanjm
Tar Sands
Joined: May 23, 2008
Posts: 62
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| Posted: Fri Jun 27, 2008 8:20 am Post subject: Re: Another Record ($140.39) |
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| NoWorries wrote: | | Ebbs and flows. We knew this was coming (per Goldman Sachs and others). But even Goldman Sachs (Murti) is saying prices will fall back eventually, possibly by Christmas. |
Time is the prime factor now. The end of the Hyper Parabolic.
$167 by Labor Day.
The surprize will be when it doesn't fall back, but just gradually,
grindingly plateaus. |
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