Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Joined: Dec 07, 2005 Posts: 1450 Location: Australia
Posted: Thu Jul 03, 2008 2:07 am Post subject: Re: Brent falls $10.25!!
Not sure what chart that is.
Brent Sep contract currently shows $146.05 up $1.08 Low today is $143.89.
Maybe someone tried to set off a blackbox sale on the spot market??? Tape painting like that seems very very common nowadays. _________________ Lets take a ride, and run with the dogs tonight
In suburbia
You cant hide, run with the dogs tonight
In suburbia
- Pet Shop Boys
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