So is there any doubt anymore what was driving crude oil 6 months ago?

[halik]

Down some 25% over the last week and half, despite weakening dollar and lower than expected inventories (by ~50% of the forecast).

In related news, hedge fund redemptions are hitting record highs and the word is that friday's 6% move was mainly due to that.

 

[cubby1223]

There was never any doubt why crude oil was so expensive. It is and always has been Dick Cheney and his cronies.

 

[gevorg]

Originally posted by: halik
Down some 25% over the last week and half, despite weakening dollar and lower than expected inventories (by ~50% of the forecast).

In related news, hedge fund redemptions are hitting record highs and the word is that friday's 6% move was mainly due to that.

Wrong! Dollar actually strengthened over the last months, which is one of the reasons why oil prices dropped.

 

[miketheidiot]

Originally posted by: gevorg

Originally posted by: halik
Down some 25% over the last week and half, despite weakening dollar and lower than expected inventories (by ~50% of the forecast).

In related news, hedge fund redemptions are hitting record highs and the word is that friday's 6% move was mainly due to that.

Wrong! Dollar actually strengthened over the last months, which is one of the reasons why oil prices dropped.

you must be illiterate, please reread the op and try again.

 

[ericlp]

Damn Mike, your making a come back!!!

Well, you see what corrupted money can buy these days?

I guess when Bush get's sent packing maybe gas will be down to 50 cents a gallon? I wonder how much influence the bush freaks had on oil? Scamming us all as usual.

 

[StageLeft]

Down overall is partly from stronger dollar, partly weakened demand, mainly hysterical speculation's chickens coming home to roost. I wonder if Goldman Sachs has Sached some of their more idiotic analysts who didn't see any of this when even many laymen did.

 

[LegendKiller]

Originally posted by: gevorg

Originally posted by: halik
Down some 25% over the last week and half, despite weakening dollar and lower than expected inventories (by ~50% of the forecast).

In related news, hedge fund redemptions are hitting record highs and the word is that friday's 6% move was mainly due to that.

Wrong! Dollar actually strengthened over the last months, which is one of the reasons why oil prices dropped.

90% wrong.

 

[PokerGuy]

Oil was driven up by a combination of speculation and market conditions. The speculators started bailing out when it became evident that market conditions (with the world economy heading in the tank) were going to drive the price of oil down. Put together falling demand and speculators bailing out, and voila - you get vastly reduced price.

Of course, when the economy picks back up eventually, the price of oil will go up with it.

 

[LegendKiller]

Originally posted by: PokerGuy
Oil was driven up by a combination of speculation and market conditions. The speculators started bailing out when it became evident that market conditions (with the world economy heading in the tank) were going to drive the price of oil down. Put together falling demand and speculators bailing out, and voila - you get vastly reduced price.

Of course, when the economy picks back up eventually, the price of oil will go up with it.

No, the speculators exited when they realized they were massively long another bubble and fund redemptions skyrocketed. The same thing would have happened if the world economy had not declined.

 

[GroundedSailor]

Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Absolutely no. In fact it was pretty clear when oil was going up that there was more than market fundamentals at play.

Edited for wrong content!

 

[Paratus]

Question for LK:

How does the tight credit market affect the speculators?

posted via Palm Life Drive

 

[LegendKiller]

Originally posted by: Paratus
Question for LK:

How does the tight credit market affect the speculators?

posted via Palm Life Drive

They were using debt to lever the funds up along with equity. Now that the credit market has dried up and the equity portion has been hammered by fund redemptions they can't take as many positions.

 

[dmcowen674]

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Like who? Find proof, with an actual link, of more than one person on P&N who said that the run-up was entirely supply & demand. You cannot, because it's in the nature of trolls to make baseless accusations.

 

[Squisher]

Originally posted by: LegendKiller
*snip*
No, the speculators exited when they realized they were massively long another bubble and fund redemptions skyrocketed. The same thing would have happened if the world economy had not declined.

But, weren't they long and riding a bubble all along the path to $150?

 

[LegendKiller]

Originally posted by: Squisher

Originally posted by: LegendKiller
*snip*
No, the speculators exited when they realized they were massively long another bubble and fund redemptions skyrocketed. The same thing would have happened if the world economy had not declined.

But, weren't they long and riding a bubble all along the path to $150?

They were long, but eventually somebody realizes that you just can't keep bidding the price up. Eventually somebody pulls back.

 

[dmcowen674]

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Like who? Find proof, with an actual link, of more than one person on P&N who said that the run-up was entirely supply & demand. You cannot, because it's in the nature of trolls to make baseless accusations.

Just a couple weeks ago still have your buds claiming it is Supply & Demand

Topic Title: Oil & Gas thread:10-19 Return of $1 gas brings back giant Pickup truck and SUV ads

11/14/2008 06:14 PM

Originally posted by: Ocguy31
Wow...you are a genious! Increased demand along with a supply cut will cause prices to increase again at some point? Nostradamus you are!


I would be begging a mod to delete this thread, not continually bumping it.

 

[halik]

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Must've been a large change considering it dropped 25% in about a week... and the metrics show higher than expected demand/lower supply. When you see empirical evidence going the opposite of your theory, It's time to change that theory (ron paul folk take notes on this)

 

[DealMonkey]

Queue Charrison to claim it was primarily a supply/demand scenario . . . in 3 . . . 2 . . . 1

 

[PokerGuy]

Originally posted by: LegendKiller

Originally posted by: PokerGuy
Oil was driven up by a combination of speculation and market conditions. The speculators started bailing out when it became evident that market conditions (with the world economy heading in the tank) were going to drive the price of oil down. Put together falling demand and speculators bailing out, and voila - you get vastly reduced price.

Of course, when the economy picks back up eventually, the price of oil will go up with it.

No, the speculators exited when they realized they were massively long another bubble and fund redemptions skyrocketed. The same thing would have happened if the world economy had not declined.

That realization came when they started seeing signs of a significant slowdown in the global economy. That's why the two went hand in hand, it wasn't a coincidence.

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Like who? Find proof, with an actual link, of more than one person on P&N who said that the run-up was entirely supply & demand. You cannot, because it's in the nature of trolls to make baseless accusations.

Just a couple weeks ago still have your buds claiming it is Supply & Demand

Topic Title: Oil & Gas thread:10-19 Return of $1 gas brings back giant Pickup truck and SUV ads

11/14/2008 06:14 PM

Originally posted by: Ocguy31
Wow...you are a genious! Increased demand along with a supply cut will cause prices to increase again at some point? Nostradamus you are!


I would be begging a mod to delete this thread, not continually bumping it.

You're 46 and this is what you have to show for it. Aren't you ashamed of yourself?

 

[dmcowen674]

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Like who? Find proof, with an actual link, of more than one person on P&N who said that the run-up was entirely supply & demand. You cannot, because it's in the nature of trolls to make baseless accusations.

Just a couple weeks ago still have your buds claiming it is Supply & Demand

Topic Title: Oil & Gas thread:10-19 Return of $1 gas brings back giant Pickup truck and SUV ads

11/14/2008 06:14 PM

Originally posted by: Ocguy31
Wow...you are a genious! Increased demand along with a supply cut will cause prices to increase again at some point? Nostradamus you are!


I would be begging a mod to delete this thread, not continually bumping it.

You're 46 and this is what you have to show for it. Aren't you ashamed of yourself?

Originally posted by: DealMonkey
Queue Charrison to claim it was primarily a supply/demand scenario . . . in 3 . . . 2 . . . 1

How old are you and Charrison? Apparently still need schooling because you guys don't seem to be able to learn.

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: halik
Topic Title: So is there any doubt anymore what was driving crude oil 6 months ago?

Obviously Supply and Demand as the resident oil apologists keep saying for years and still saying.

Like who? Find proof, with an actual link, of more than one person on P&N who said that the run-up was entirely supply & demand. You cannot, because it's in the nature of trolls to make baseless accusations.

Just a couple weeks ago still have your buds claiming it is Supply & Demand

Topic Title: Oil & Gas thread:10-19 Return of $1 gas brings back giant Pickup truck and SUV ads

11/14/2008 06:14 PM

Originally posted by: Ocguy31
Wow...you are a genious! Increased demand along with a supply cut will cause prices to increase again at some point? Nostradamus you are!


I would be begging a mod to delete this thread, not continually bumping it.

You're 46 and this is what you have to show for it. Aren't you ashamed of yourself?

Originally posted by: DealMonkey
Queue Charrison to claim it was primarily a supply/demand scenario . . . in 3 . . . 2 . . . 1

How old are you and Charrison? Apparently still need schooling because you guys don't seem to be able to learn.

Dave, why do you post articles about OPEC lowering production will increase oil/gas prices, yet deny that demand/supply is part of the mixture in prices?

 

[dmcowen674]

Originally posted by: Capt Caveman
Dave, why do you post articles about OPEC lowering production will increase oil/gas prices, yet deny that demand/supply is part of the mixture in prices?

I post the bullshit that people like you, Skoorb, Charrison, CAD etc believe.

You and buds failings are etched in history forever :laugh:

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Capt Caveman
Dave, why do you post articles about OPEC lowering production will increase oil/gas prices, yet deny that demand/supply is part of the mixture in prices?

I post the bullshit that people like you, Skoorb, Charrison, CAD etc believe.

You and buds failings are etched in history forever :laugh:

Oh the irony, this from the constant nomad who cannot hold down a job or relationship to save his life and posts in the stock thread as if it matters to a guy who's retirement account is at $0. For shame, Dave