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f2tornado
Tar Sands
Joined: Jun 21, 2008
Posts: 51
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 Posted: Wed Jul 02, 2008 2:40 pm Post subject: Re: Another Record ($144.32) |
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Perhaps this tidbit was today's price driver. The GoMex has been relatively quiet since 2005. Perhaps we are due for a solid storm this season.
ZCZC MIATWOAT ALL TTAA00 KNHC DDHHMM
TROPICAL WEATHER OUTLOOK NWS TPC/NATIONAL HURRICANE CENTER MIAMI FL 200 PM EDT WED JUL 2 2008
FOR THE NORTH ATLANTIC...CARIBBEAN SEA AND THE GULF OF MEXICO...
1. A BROAD AREA OF LOW PRESSURE...ASSOCIATED WITH A TROPICAL WAVE...IS CENTERED ABOUT 275 MILES SOUTHEAST OF THE CAPE VERDE ISLANDS. ALTHOUGH THIS SYSTEM HAS NOT BECOME ANY BETTER ORGANIZED TODAY...ENVIRONMENTAL CONDITIONS APPEAR FAVORABLE FOR SOME ADDITIONAL DEVELOPMENT. THIS SYSTEM HAS THE POTENTIAL TO BECOME A TROPICAL DEPRESSION OVER THE NEXT COUPLE OF DAYS AS IT MOVES GENERALLY WESTWARD AT 10-15 MPH.
Last edited by f2tornado on Wed Jul 02, 2008 2:44 pm; edited 1 time in total |
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5928
Location: New Jersey
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| Posted: Wed Jul 02, 2008 2:44 pm Post subject: Re: Another Record ($144.13) |
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| sjn wrote: | | Zardoz wrote: | I'll be genuinely shocked and surprised if Nymex crude does not hit $150 by July 15.
That's a huge psychological threshold to cross, but the mighty forces that are at work now will inevitably push us over it.
Who would've guessed we'd be here so soon? This is really amazing. |
Me!  Oh, sorry, that was rhetorical wasn't it?  |
Well done. My original forecast in 2007 was $146 oil this year, but now that figure seems quite inadequate when we have hardly begun a possible summer of discontent - with falling oil imports, possible hurricanes, and a chance of a little (or big) war on Iran.
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It's already over, now it's just a matter of adjusting. |
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Duende
Heavy Crude
Joined: Nov 27, 2004
Posts: 235
Location: The District
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| Posted: Wed Jul 02, 2008 3:10 pm Post subject: Re: Another Record ($144.32) |
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| catbox wrote: | | ]Look at it go! Along with the market looking sick...it's quite a day! |
You think that's bad? Check out the dollar puking everywhere - it's under 72.1. Yuck. Somebody hand me a towel.
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ritter
Tar Sands
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Joined: Oct 14, 2005
Posts: 54
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| Posted: Wed Jul 02, 2008 3:32 pm Post subject: Re: Another Record ($144.13) |
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| Zardoz wrote: | | Who would've guessed we'd be here so soon? This is really amazing. |
I don't know if "amazing" is the correct word. How about scary as hell? 
I've been expecting this right along with all of you. Now that it's here, I'd like a little longer with the old business as usual life. |
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Starvid
Fission
Joined: Feb 20, 2005
Posts: 2880
Location: Uppsala, Sweden
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| Posted: Wed Jul 02, 2008 5:38 pm Post subject: Re: Another Record ($144.32) |
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Mission Accomplished!
| Quote: |
''If bin Laden takes over and becomes king of Saudi Arabia, he'd turn off the tap,'' said Roger Diwan, a managing director of the Petroleum Finance Company, a consulting firm in Washington. ''He said at one point that he wants oil to be $144 a barrel'' -- about six times what it sells for now. |
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Peak oil is not an energy crisis. It is a liquid fuel crisis. |
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Minvaren
Heavy Crude
Joined: Sep 25, 2005
Posts: 121
Location: Planet Houston
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| Posted: Wed Jul 02, 2008 6:07 pm Post subject: Re: Another Record ($144.32) |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1280
Location: Singapore
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| Posted: Wed Jul 02, 2008 8:16 pm Post subject: Re: Another Record ($144.32) |
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Good morning from Singapore!
Nothing like waking up to another record, and coming to work to witness yet another record in today's session.
We've got a new record on NYMEX : $144.44
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Zardoz
Expert
Joined: Dec 02, 2005
Posts: 6684
Location: Oil-addicted Southern Californucopia
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| Posted: Wed Jul 02, 2008 8:35 pm Post subject: Re: Another Record ($144.32) |
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And there it is. Our first look at $150-a-barrel crude:
Upstream Online
Time to break out the Vodka, but not to celebrate. I'll drink tonight to forget.
Where will Nymex be at the end of the day tomorrow?
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"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen |
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lawnchair
Intermediate Crude
Joined: Oct 20, 2004
Posts: 789
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| Posted: Wed Jul 02, 2008 8:52 pm Post subject: Re: Another Record ($144.32) |
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We'll see how serious $150 is to psychology.
Remember that Tapis got over $100 on 7-Nov. We dropped back into the $80s before WTI broke over on 2-Jan. It didn't close over $100 until 19-Feb.
Damned if that doesn't feel longer ago than 4-6 months.
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At 1% annual growth, human bodies will incorporate every gram in the observable universe in approximately 10,170 years. |
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Armageddon
Fusion
Joined: Apr 13, 2005
Posts: 3162
Location: St.Louis, Mo
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| Posted: Wed Jul 02, 2008 9:01 pm Post subject: Re: Another Record ($144.32) |
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| lawnchair wrote: | We'll see how serious $150 is to psychology.
Remember that Tapis got over $100 on 7-Nov. We dropped back into the $80s before WTI broke over on 2-Jan. It didn't close over $100 until 19-Feb.
Damned if that doesn't feel longer ago than 4-6 months. |
It seems like 2 months to me. Time really flies in my world.
Wow, $150.00, hard to believe things are happening this fast. We are one hurricane in the gulf away from $175.00. I have a bad feeling about this hurricane season too. Last year there were MANY close calls, but the shearing winds tore them apart. Mexico had two cat 5's that could have easily split the Yukatan and entered the GOM. Very close call. |
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anagami
Light Sweet Crude
Joined: Jul 26, 2006
Posts: 1761
Location: Sudavasa Abodes
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1280
Location: Singapore
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| Posted: Wed Jul 02, 2008 10:53 pm Post subject: Re: Another Record ($144.44) |
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$144.47
Making a run for $150?
Go go go !!
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anagami
Light Sweet Crude
Joined: Jul 26, 2006
Posts: 1761
Location: Sudavasa Abodes
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1280
Location: Singapore
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1280
Location: Singapore
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| Posted: Wed Jul 02, 2008 11:08 pm Post subject: Re: Another Record ($144.44) |
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$144.55
Yet another "numerical" record.
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