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United States Oil Message Board

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  • jamesattner jamesattner Nov 25, 2010 11:10 AM Flag

    with the dollar up 5% the past two weeks,

    In reply, I said it is a speculator's game. There is a lot of money investing and confidence is high. The price of crude oil is not based on the fundamentals (high demand or low supply).

    Just look at the figures: increase of 1.9M barrels (or 5M according to API), increase of gasoline-- all when the analysts were predicting declines. What happened? Crude oil increased! It is going up much higher until investor sentiment changes.

    If there is a supply disruption, even if insignificant, the speculators will jump on this as a reason to increase the price per barrel even higher. And if the USD weakens, oil will increase as well.

    Happy Thanksgiving from 8DIM Space Monkey!

    In reply to:

    you said: "Basically, oil demand is irrelevant."

    and you said: "Get ready for $150 if there are any issues with supply"

    Impeccable logic! great observations! so what dimension of space monkeys are you?

13.03-0.36(-2.69%)Nov 27 1:00 PMEST