http://www.universetoday.com/13507/what-is-the-biggest-star-in-the-universe/ https://en.wikipedia.org/wiki/List_of_largest_stars
Nope its going higher, much higher http://seekingalpha.com/article/4056669-oil-will-continue-higher-can-profit upply cuts from OPEC countries and growing demand from the US and China could push prices higher. Market sentiment remains bullish, increasing prices on oil futures and further pushing up the market. Technical analysis of the market also suggest a bullish future. By David Goodboy Now is the time to get long oil. This is a big change for me; I was a huge oil bear during the "peak oil" craze. It seemed clear that the new extraction technology and the ever-changing geopolitical climate would quickly eliminate the fear of oil becoming scarce. But my investment thesis, to buck oils upward trend, came to fruition faster than I expected. The Light Crude Oil futures contract (WTI Crude) plunged from the $115.00 zone at the start of 2011 to just above $25.00 in the early months of 2016. The bulk of the dive began in mid-2014, with a precipitous fall to the lows. Fortunes were made by the oil bears who had the foresight and nerve to short in the face of massive bullish sentiment. The oil sell-off was the primarily the result of a trifecta of factors. First, technology led to a flood of product onto the market. New extraction techniques, such as fracking, allowed producers to access untold barrels of black gold never imagined by the oil bulls. The earth went from potentially running out of oil within our lifetime to a virtually unlimited supply. Second, political events drove prices down. At the start of 2014, rumors began to swirl around the globe that OPEC, which controls over 40% of the oil market, was not going to be able to ratify production cuts that year. During the November meeting this fear became fact, sending prices sharply lower. Third, slowing economic activity in China and Russia has had bearish effects on price. Supply and demand have a very real power over the commodity's price. Nations like Russia are very dependent on high oil prices to finance their heavy social programs. As oil drops, less money is spent by the government, fueling the slowing economy in a never-ending downward cycle. Then Everything Changed Just when the oil bulls were about to throw in the towel, the bottom in price was finally hit. In the early part of 2016, oil prices plunged to just above $25.00 per barrel. Starting in February 2016, prices reversed and began to climb higher. Oil hit resistance at $55.00 per barrel, experiencing a more than 100% gain in just 12 months. And now, despite the recent bout of profit taking, I firmly think that oil will continue to go higher. Here's why: Macro Supply And Demand Supply and demand are what drives all free market prices. While the oil market isn't exactly free (due to massive government interference), the same economic forces apply but are just under
Canis Majoris is so large that it you placed it on top of the sun, it's radius would extend all the way to Jupiter. And if you lined up all the planets side by side, it would be approximately the distance to the Moon. And Jupiter is so big......you could fit all the other planets inside of it, if you stacked them like the Russian stacking dolls. As long as we are talking about space........hmm...it's a gif......the rockets are suppose to be taking off at different rates.... Okay, that is my personal limit for space trivia.
Everything the article says is basically correct. But......the high prices of the last 10 years drove oil to 100 and even 150 dollars a barrel for a few days. The high oil prices allowed greater risks to be taken to drill oil in places that were previously considered too expensive like shale deposits and off shore oil wells. That increased the supply of oil and it's going to keep the supply high and prices low. OPEC will never agree on anything that will be enforced. OPEC wants OTHER nations to reduce output, but not themselves. They want to pump oil at higher prices without sacrificing their own volume. Iraq announced they are increasing production, Iran is modernizing their industry, Russia announced they are decreasing output, but they always lie. They aren't reducing anything. Venezuela has some of the largest oil reserves in the world an their breakeven point if about 30 bucks. If they would ever get their shiat together they will start pumping more oil. Brazil found 2 offshore sites that rival the reserves of Kuwait. The U.S. found a large patch of oil Alaska recently as well. Assuming that there is no war or embargo......oil is not returning to 100 dollars a barrel anytime soon. Or even 80.
C'mon, guys. Easy on the tangents. Commodity threads are prime time. Especially, oil. It is the commodity that lifts all boats in real asset world. If this flips to backwardization in the Fall, Yellen is going to slam us with 50 bps a hike next year cause inflation may finally wake up.
Raoul Pal@RaoulGMI 31m31 minutes ago So anyone who accumulated oil positions over the last 200 days are underwater. Remember, in the last 200 days saw the largest spec pos. ever
Great book. Not about OPEC. About all the corrupt former NYMEX chairmen over the years and all the games played down on the floor there. The stuff on the old potato market are classic. Well worth the read.
So according to the book contents, any of our analyses/discussions about OPEC output, inventories and production costs vs market prices can be insignificant for trading/speculation purpose! ? Great! Just 20 pages!
If you are going to daytrade CL you might as well gamble on horses. More fun. Long term you better know your fundamentals cold.