crude oil down

Discussion in 'Markets & Economies' started by clear, Nov 27, 2014.

  1. clear

    clear Well-Known Member

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    Just noticed crude oil is dropping (down $3.31 in the last 2 hours), what's going on.
     
  2. Altima

    Altima Well-Known Member Silver Stacker

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  3. clear

    clear Well-Known Member

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    still dropping ($ 3.86 down) under $ 70 now.
     
  4. clear

    clear Well-Known Member

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    down again ($ 5.60 )
     
  5. TreasureHunter

    TreasureHunter Well-Known Member

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    Around 73-75 $ today on different markets.
    [​IMG]

    My guess: this will drag gold and silver down.

    I see the cheap oil price as an opportunity. Kiyosaki would say "it's on discount".

    I think the commodities will continue to sink for a while. We also have deflation and the Russia-West crisis.
    This window of opportunity could be great for buying commodities. Like silver and gold.
     
  6. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    I concur, so long as low inflation - deflation figures are an issue then most commodity prices will see a fall in price including gold and silver and apart from cheap money from QE I can't see anything to suggest there is going to be turnaround anytime soon. Economists who are pushing the "lower oil prices will give consumers more disposible income due to lower gas prices" angle are not giving the full story about the effect deflation has on the economy as a whole i.e higher unemployment figure means there's more people who can't afford to fill their car regardless of how low oil prices are or they have already sold their car to pay for necessities such as paying bills and buying food.
     
  7. TreasureHunter

    TreasureHunter Well-Known Member

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    Gas prices are not going down. Plane tickets aren't getting any cheaper either.

    This is unfair, but the prices don't propagate to the end consumer.
     
  8. errol43

    errol43 New Member Silver Stacker

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    IMO It indicates that if the consumption of oil is dropping, so will the price> Is it because the whole world is in a Recession? The indication of the whole economy is IMO MEASURED by the total consumption of oil. High = good economic growth Low = low economic growth.

    Regards Errol 43
     
  9. Altima

    Altima Well-Known Member Silver Stacker

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    OPEC Policy Ensures U.S. Shale Crash, Russian Tycoon Says

    Source: http://www.bloomberg.com/news/2014-...-u-s-shale-crash-russian-oil-tycoon-says.html
     
  10. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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  11. clear

    clear Well-Known Member

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    crude oil down again $ 65.99
     
  12. TheEnd

    TheEnd Well-Known Member

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    Yes they are I have seen petrol in Melbourne down to $1.23 per litre and even LPG is slowly dropping also. Excellent to see it dropping just before xmas to give consumers some exrta money for xmas shopping.
     
  13. clear

    clear Well-Known Member

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    US$ 59.04 and dropping
     
  14. TheEnd

    TheEnd Well-Known Member

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    Gees wots going on over there to make it go that low?
     
  15. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    USA are trying to force the Oil price down to hurt Russia,preparing for the invasion the USA will launch at some time in teh future

    and have you gotten a job yet?
     
  16. Altima

    Altima Well-Known Member Silver Stacker

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    Breached 60 USD!
     
  17. TheEnd

    TheEnd Well-Known Member

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    Went for two interviews this week.....Will find out early next week.
     
  18. clear

    clear Well-Known Member

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    $ 55.41
     
  19. clear

    clear Well-Known Member

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    $ 54.17
     
  20. errol43

    errol43 New Member Silver Stacker

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    The shale oil industry in the USA will go broke before the Russians.

    Regards Errol 43
     

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