http://af.reuters.com/article/commoditiesNews/idAFN1220021520110412 " * Expensive oil will begin cutting global demand by next year, the U.S. Energy Information Administration said. Demand in the next two years will still be strong enougjh to cause a drawdown in global inventories, it said. [ID:nI12189731] * EIA, in a monthly forecast, said U.S. crude oil prices could rise to $106 a barrel this year, up by $5, and by $9 to $114 next year. * High oil prices are starting to dent oil demand growth, the International Energy Agency said, but an economic slowdown could ultimately moderate prices. [ID:nLDE73B0MO] * OPEC expects oil demand to grow 1.4 million barrels per day this year, in line with IEA's forecast. [ID:nL9E7F700M] * Japan put its nuclear calamity on a par with Chernobyl, after new data showed that more radiation leaked from its earthquake-damaged plant than first thought. [ID:nL3E7FB2TZ] * Economic damage from Japan's earthquake and tsunami is likely to be worse than first thought, the country's economics minister warned. [ID:nL3E7FC092] * Yemen opposition parties urged Gulf mediators to spell out whether President Ali Saleh would hand over power early under a proposal to end a crisis over reforms. [ID:nLDE73B0XI] * Syria's main human rights movement said the death toll from pro-democracy protests against President Bashar al-Assad had reached 200. [ID:nLDE73B0O6] * Forces loyal to Muammar Gaddafi bombarded the western entrance to the rebel-held town of Ajdabiyah in eastern Libya, a Reuters witness reported. [ID:nWEA4115] "
Gentleman if you would please share your stories of how you learned to trade oil. ANYONE reading this is more than welcome to share there input thank you.
just get on a demo...like trading any other future but much more volatile. start with YM then NQ then ES then maybe 6A then go to CL... thats what i did.
As a matter of performance evaluation for the Big Short guys, they forecasted a 20% drop in crude oil on 12th of April (likely from the recent top, i.e. targetting 90 in CL): "Using Goldman's estimates, that indicates the total speculative premium in U.S. crude oil is currently between $21.40 and $26.75 a barrel, or about a fifth of the price." [ http://seekingalpha.com/article/263135-goldman-s-near-term-bearish-turn-on-commodities ] Paulson's fund was their client BTW and they simply coat-tailed him in his mortgage-backed securities short from 2006-7... an ex-GS employee wrote that in a book...