Too bad Bush the whoosh and Cheeeney weren't around still. They'd probably would have bombed the Saudi's by now and oil would be at $200.
And XOM paid over $30B for that NG play years ago. NG has been a disaster. Yet we could all be burning it (made in good ol USA) in our vehicles paying about $.67 per equivalent gallon. #$%$ is going on in our country?
These idiot big players are morons pure and simple. Gambling is their thing NOT investing. This is a sick joke what's going on here but then again its Wall Street which is now controlled by fools. Called hedge funds.
Calling for $40 oil still? You must be standing on your head for its going the other way along with bond yields. I still say around $24 is the current free market price. And then maybe more rumors about meetings which nobody believes until these countries really start to suffer social unrest-like actions from its citizens.
But the option buyers are buying calls at $40. And they, not fundamentals, create the tends. The old adage don't buck the trend is a definite statement to behold. I know, I traded T-Bonds for 11 years.
You can bet the ranch, wife, dog Yellen will be most appeasing to the markets regarding rate hikes. She's a Wall Street patsy.
Oil bulls are gradually starting to emerge, with this month's drop below $30.
The options market shows traders are buying up protection against a rise to at least $40 by the end of the year, and speculators have increased their bullish bets on the price through the futures market.
Probably where it should be BUT the traders are controlling the action until the fundamentals see this whole thing out. I still believe $24 is in the cards when the refineries start their seasonal transitional stage.
Your post would have some validity until you older white male#$%$ mind set totally nukes your post. Hate filled towards Pres. Obama is a disease pal. Seek immediate attention or just do us all a favor and buy some rope. Natural gas is replacing coal. Get over it dude.