Thread: Crude Oil Prices

$115 - $120 Oil?...bah, who cares!

Declining retail sales, housing still screwed, energy and food commodities skyrocketing - I know the market anticipates future conditions but don't the glasses seem a little extra rosy right now?

We bought a lot more Macs and stuff from Amazon. So everyone's staying home and on the internet. Does that mean the rest of the economy doesn't matter? Housing in the cellar - ha, so what, Mariah Carey had a lot of Amazon downloads!

From a short perspective, probably the creepiest thing about this stock market is the way we dinged $120 on oil and we rally anyway. If we get short capitulation here in the next few days, we could blow through resistance and get a monster rally.

Plenty of mutual funds and pension funds are sitting on huge amounts of cash after selling stock for the last six months and they exist to hold long stock. That's what they do. They sure as hell aren't in business to short stocks. If they start leaning on this thing to the upside that will push things a lot higher.

West Texas Intermediate (WTI), also known as Texas Light Sweet, is a type of crude oil used as a benchmark in oil pricing and the underlying commodity of New York Mercantile Exchange's oil futures contracts. WTI is a light crude oil, lighter than Brent Crude oil. It contains about 0.24% sulfur, rating it a sweet crude, sweeter than Brent. Its properties and production site make it ideal for being refined in the United States, mostly in the Midwest and Gulf Coast regions.

yeah right, and there is far better technology to refine that crude oil in states then that in gulf..

Crude oil is the term for "unprocessed" oil, the stuff that comes out of the ground. It is also known aspetroleum. Crude oil is a fossil fuel, meaning that it was made natural*ly from decaying plants and animals living in ancient seas millions of years ago -- most places you can find crude oil were once sea beds. Crude oils vary in color, from clear to tar-black, and in viscosity, from water to almost solid.

Prices for the crude oil has sky rocketed in the recent few months. Why is oil becoming so much costly? i don't understand. The government says they have to import it at heavy cost so they provide us at heavy costs.That's not a satisfactory explanation.

From a short perspective, probably the creepiest thing about this stock market is the way we dinged $120 on oil and we rally anyway. If we get short capitulation here in the next few days, we could blow through resistance and get a monster rally.