What a bullish market. So many skeptics too who think people are buying because of some meaningless tropical storm in the Atlantic. I think we see $100 oil by Thanksgiving, which is less than a month a way. And demand won't go down until we get to $200+. There are just too many dollars sloshing around and so many energy hungry economies to feed the oil bull. Production is shrinking too. We are going to go hyperbolic in oil.
Oil is at $93.50 and rising fast. You think people are dumb? A share of an overvalued overhyped company RIMM which has been split a bunch of times is $122. A barrel of oil is $93.50. What's the better value. I'll take a barrel of oil anyday. The funny thing is most people think RIMM will keep going higher and that oil is toppy here. A laugh a minute on Wall Street.
Surprised to see gas go up only a .05 to .08 around my area over the last 2 weeks... I think if it was $4.00 many would be complaining....Still $3.00-$3.25....
Gas will go up soon. There is always a delay between the rise in crude and the rise in gas prices at the pump.
If oil stays above 90 till February RB will hit 3 by that time and gas at the pump will be around 4 Although oil is up $25 since Fed first cut in August and as they think there is no inflation and continue cut rates oil should reach $120 and gas at the pump 5 by the end of spring
Gas will NOT hit $5 by 2008 these prediction are outlandish Gas was at $3 when oil as in the 50's now it is at 93 and gas is still at $3
Crack spread margins between the crude and gasoline is seasonally low during fall. It's a good thing crude is not hitting these highs in the summer. Having said that, if cl is in the 100's by summer, you can bet on $5 gasoline.