Another Record ($147.27)

lowem · Posted: Tue Jul 22, 2008 2:00 am Post subject: Re: Another Record ($147.27)

NYMEX crude oil prices have picked themselves off the floor, rebounding from recent lows of $128-129. Prices have broken through the $130 resistance level, and are now heading towards $132. As of 3.56pm Singapore time today, 22 Jul 2008, oil prices have hit $131.90.
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rdsaltpower · Heavy Crude Joined: Aug 30, 2006 Posts: 130

crude prices have slipped to a low of 126.00 today.

TheAntiDoomer · Tar Sands Joined: Jun 18, 2008 Posts: 30

*Crickets*
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firestarter · Light Sweet Crude Joined: Mar 19, 2006 Posts: 1181

The August contract expires today. I wouldn't read too much into this action. I also wouldn't read too little into it.
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lowem · Posted: Tue Jul 22, 2008 9:36 am Post subject: Re: Another Record ($147.27)

Yup, perhaps we could now start some thread about crude oil falling by record amounts from record highs. It's now down over $20 from the current record high of $147.27. We're on track to hit the next bunch of support levels at $120, $110, $100 ...

Go home everyone, Peak Oil has gone away.

And first thing in the morning, go to your local car dealer and buy the biggest SUV on the lot ... Laughing

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rdsaltpower · Heavy Crude Joined: Aug 30, 2006 Posts: 130

125.85 now. Lowem , why not the board brought out the cheerleaders complete w/ rah-rahs and pom-poms for every nickel it went up!

Chuckmak · Posted: Tue Jul 22, 2008 9:55 am Post subject: Re: Another Record ($147.27)

down $21 over the course of a week...i honestly wasn't expecting that.
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rdsaltpower · Heavy Crude Joined: Aug 30, 2006 Posts: 130

I also noticed Gold was down in the 947.00 range.

Atlantean_Relic · Posted: Tue Jul 22, 2008 10:10 am Post subject: Re: Another Record ($147.27)

I guess will be seeing real soon if SPG's prediction of a bounce around $122 to 112 is right.
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thor · Heavy Crude Joined: Jun 21, 2005 Posts: 453

The price drop seems to indicate that there is enough oil and we can continue to grow. Yeah.

Minvaren · Posted: Tue Jul 22, 2008 11:49 am Post subject: Re: Another Record ($147.27)

...even with a hurricane in the Gulf is what surprises me, to be honest.

$126.70 or so as of now...

ColossalContrarian · Intermediate Crude Joined: Jun 20, 2006 Posts: 698

Let’s not forget that the price peaked almost $50 since the beginning of the year (6 months). We’ve also just entered Hurricane season and we’re still way higher than we were this time last year.

...trying to lookup how much oil was this time last year...
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ColossalContrarian · Intermediate Crude Joined: Jun 20, 2006 Posts: 698

Another record Archive

Same time last year we were at about $75
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idiom · Posted: Tue Jul 22, 2008 2:09 pm Post subject: Re: Another Record ($147.27)

It's all those speculators shorting the stuff. The should make a law about that.