crude oil down

$48

No minute to minute updates when it's rising ?


Gotta love the media reports - when it's falling it us because of fundamental supply glut,
But when it's rising it's because of short covering
 
Insane rises in oil the last week or two.
Who else missed the opportunity?
I said I'd buy more when it dropped like that, but I wimped out thinking it had more to go.
Although I'm also in cash saving mode at the moment, and oil for me was a longer term play, or that's my excuse anyway...
 
OOO on the ASX for those following:
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That sharp ramp back up is the stuff PM fantasies are made of.
Could have made more on oil in the last two weeks than any PM rally in the last, what, 5 years?
 
Short squeeze coming into the end of the month and OPEC "talking" about being ready to act if need be. The bottom may be in, but we won't know for sure until the next FOMC meeting and impact that will have on the USD and commodities and the next OPEC meeting in December. Looking for a higher low over the next couple of months
 
Just wait until Iran comes online.
I have read many differing reports about this , one being that Iran has 10's OF MILLIONS of barrels of oil floating on boats waiting to hit the markets.
The bottom may or may not be in, BUT on the plus plus side i do not have to dish out any apologies for being wrong.
YAY ME!
 
Just wondering if petrol ends up staying around the $1.10 or even less per litre (which is where it is now) over the next few years will it have some efffect of saving the Oz economy?

Or am I thinking way to confidently???
 
TheEnd said:
Just wondering if petrol ends up staying around the $1.10 or even less per litre (which is where it is now) over the next few years will it have some efffect of saving the Oz economy?
Click to expand...

It's good for airlines and transport companies, but otherwise makes jack-all difference.
 
SilverDJ said:
TheEnd said:
Just wondering if petrol ends up staying around the $1.10 or even less per litre (which is where it is now) over the next few years will it have some efffect of saving the Oz economy?
Click to expand...

It's good for airlines and transport companies, but otherwise makes jack-all difference.
Click to expand...

Oh well thank god we dont all live in NZ where its $2.00 per litre.

Apparently thers a massive oversupply of oil coming onto the markets which will keep prices low for a few years yet.......I really hope that is true!
 
TheEnd said:
Oh well thank god we dont all live in NZ where its $2.00 per litre.
Click to expand...

Cheap for a finite resource that took millions of years to produce, and the lengths that are needed to go to extract it. Not to mentions the countless of people who've died in wars over it.
Bottled water at the same service station likely costs more.
Live it up.
 
SilverDJ said:
TheEnd said:
Oh well thank god we dont all live in NZ where its $2.00 per litre.
Click to expand...

Cheap for a finite resource that took millions of years to produce, and the lengths that are needed to go to extract it. Not to mentions the countless of people who've died in wars over it.
Bottled water at the same service station likely costs more.
Live it up.
Click to expand...
NZ petrol per LITRE is around $1.90NZD at the moment, YAY puke puke puke:(
I have to dig through some old threads and find out who was calling $30 oil cause they are getting closer and closer.
I put a friend onto oil EFT and he (and by extension his family) have been buying all the way down from $50.
I never really expected them to listen to me , as i thought they were far more savy than me (and definitely a shittonne richer) yet he seems to be happy at where things stand.
I have heard so many stories about Iran stocks on boats and in storage that i fear we may easily pull into the $30s now.
I never expected to see oil tis low again in my lifetime.
WHAT THE HECK HAPPENED TO PEAK OIL, lololololol:)
 
sterling-nz said:
I put a friend onto oil EFT and he (and by extension his family) have been buying all the way down from $50.
I never really expected them to listen to me , as i thought they were far more savy than me (and definitely a shittonne richer) yet he seems to be happy at where things stand.
Click to expand...

They are smart. They know that if anything must increase in price eventually, it's oil.
The world is addicted to it and literally can't function without it. It's always one panic away from skyrocketing again.
 
Holdfast said:
A glut of oil coming!
Click to expand...

I think this is all great news.

Petrol prices in Melbourne have just recently spiked to $1.35 when they were around $1.10.

Last xmas prices were around the $1.00 per litre mark.

I am hoping we see this again very soon.
 
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