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| Total Votes : 137 |
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Peleg
Heavy Crude
Joined: May 20, 2008
Posts: 391
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 Posted: Sun Jul 13, 2008 8:24 pm Post subject: Re: When do we hit $150 oil? |
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| DantesPeak wrote: | | 3aidlillahi wrote: | A couple of weeks ago when I saw this thread, I predicted we'd have $150/barrel by next week (week of July 14th). I still stand by that prediction. I think it will be either Tu or Wed. I'm not expecting great numbers from the government on reserves after what we've been hearing about Cantarell and thus Mexican exports. That will cause a great amount of bullishness in the oil sector so that, if we aren't at $150 by Tuesday, then this news will send it over and beyond on Wednesday.
My two copper pennies. |
I think it may take two more inventory reports, that is the one on July 23, for most to tealize just how bad the oil inventory/import situation is. Could get to $150 then (even without Iran war talk)
By bad, I mean refineries reducing output due to lack of supplies. |
Right on, but if the Fed comes through with a deal for Freddie and Fannie, does that put downward pressure on the dollar? Is tomorrow too soon to see $150? I also heard that the worsening financial crisis is going to put pressure on the bond market? Not sure what they meant by that since bonds are a guaranteed return at a set time right? |
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5928
Location: New Jersey
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| Posted: Sun Jul 13, 2008 8:45 pm Post subject: Re: When do we hit $150 oil? |
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| Peleg wrote: | | DantesPeak wrote: | | 3aidlillahi wrote: | A couple of weeks ago when I saw this thread, I predicted we'd have $150/barrel by next week (week of July 14th). I still stand by that prediction. I think it will be either Tu or Wed. I'm not expecting great numbers from the government on reserves after what we've been hearing about Cantarell and thus Mexican exports. That will cause a great amount of bullishness in the oil sector so that, if we aren't at $150 by Tuesday, then this news will send it over and beyond on Wednesday.
My two copper pennies. |
I think it may take two more inventory reports, that is the one on July 23, for most to tealize just how bad the oil inventory/import situation is. Could get to $150 then (even without Iran war talk)
By bad, I mean refineries reducing output due to lack of supplies. |
Right on, but if the Fed comes through with a deal for Freddie and Fannie, does that put downward pressure on the dollar? Is tomorrow too soon to see $150? I also heard that the worsening financial crisis is going to put pressure on the bond market? Not sure what they meant by that since bonds are a guaranteed return at a set time right? |
Since technically the Fed/Treasury haven't yet issued money under their bailout plan, the actual significant up move in oil, gold, etc. will occur when the money is handed over to Fannie & Freddie.
They will probably (but possibly not) start the Fed portion of the bailout Monday, and the Treasury bailout may take a couple of days or a week to be voted upon by Congress.
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It's already over, now it's just a matter of adjusting. |
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 6477
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| Posted: Sun Jul 13, 2008 8:52 pm Post subject: Re: When do we hit $150 oil? |
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| Peleg wrote: | | I also heard that the worsening financial crisis is going to put pressure on the bond market? Not sure what they meant by that since bonds are a guaranteed return at a set time right? |
If people are anticipating inflation, then it's going to be harder to sell bonds and the issuers will have to raise the interest rate.
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"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS |
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Cashmere
Light Sweet Crude
Joined: Mar 27, 2008
Posts: 1971
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| Posted: Sun Jul 13, 2008 10:14 pm Post subject: Re: When do we hit $150 oil? |
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Oil started down in Asian trading and is now coming back up.
It's possible we see a huge run up this week in reaction to the potential nationalization of Fannie/Freddy and jitters caused by IndyMac.
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Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group. |
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Kingcoal
Expert
Joined: Sep 29, 2004
Posts: 2330
Location: Pennsylvania, USA
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| Posted: Mon Jul 14, 2008 7:50 am Post subject: Re: When do we hit $150 oil? |
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The strike in Brazil should help push oil up this week, depending on how negotiations go.
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"That's the problem with mercy, kid... It just ain't professional" - Fast Eddie, The Color of Money |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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| Posted: Mon Jul 14, 2008 10:06 pm Post subject: Re: When do we hit $150 oil? |
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$145 has been acting as some kind of intermediate resistance.
Nothing too major.
Now to see if there is going to be a convincing breakout.
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leal
Heavy Crude
Joined: Oct 24, 2004
Posts: 180
Location: Sweden
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| Posted: Fri Aug 08, 2008 5:41 pm Post subject: Re: When do we hit $150 oil? |
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| Any more guesses about when we hit $150 oil? |
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smallpoxgirl
Moderator
Joined: Nov 08, 2004
Posts: 6477
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| Posted: Fri Aug 08, 2008 6:38 pm Post subject: Re: When do we hit $150 oil? |
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| leal wrote: | | Any more guesses about when we hit $150 oil? |
I'll say November.
_________________
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS |
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miles392
Tar Sands
Joined: Jun 15, 2008
Posts: 60
Location: Somewhere in the cold north
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| Posted: Mon Aug 11, 2008 6:10 pm Post subject: Re: When do we hit $150 oil? |
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Don't remember if I actually voted on this  But atm I'd say december. crap really should unravel after the presidential election is over.
Edit: wow you really can't say s h i t  That's harsh. |
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lowem
Light Sweet Crude
Joined: Jul 19, 2004
Posts: 1302
Location: Singapore
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| Posted: Wed Aug 13, 2008 3:55 am Post subject: Re: When do we hit $150 oil? |
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$150 on NYMEX might take slightly longer than first expected given how it hit $147.27 and "almost" hit $150. But let's also not forget the times when it "almost" hit $100 (end of 2007) and also the one where it "almost" hit $80 (hurricanes).
It looks like we're searching for a bottom here. Anyone here punched in their million-barrel order already?
edit : 1111'th post! 
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PonyBoy78
Tar Sands
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Joined: Aug 19, 2004
Posts: 86
Location: Austin (but moving east soon)
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| Posted: Wed Aug 13, 2008 5:53 am Post subject: Re: When do we hit $150 oil? |
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"After the election" sounds about right. Seems like many big businesses are trying to keep prices low so that their buddies aren't hurt too badly in the voting booth in November.
My family is preparing for the pain that's coming after November 4th. |
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kiwichick
Tar Sands
Joined: Aug 02, 2008
Posts: 32
Location: berrigan NSW OZ
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| Posted: Fri Aug 15, 2008 9:53 am Post subject: Re: When do we hit $150 oil? |
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| try november 15th around 10am new york time |
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