this is why oil was down today.

Discussion in 'Trading' started by S2007S, Dec 4, 2006.

  1. S2007S


    Funny thing is for the last 2-3 weeks temps in the northeast have been well above normal, just 2 days ago a cold front moved in bringing temps down to around normal and now they report higher than normal temperatures are being reported. 55-60 to 35-40 is a big difference.

    Most of the U.S. will have higher-than-normal temperatures from Dec. 9 through Dec. 13, the National Weather Service reported yesterday. Temperatures in New York City are expected to be 4 degrees above normal with Boston 3 degrees higher than usual, according to the six-to-10 day outlook from Weather Derivatives, a Belton, Missouri-based forecaste
  2. yep, still very summerish here in the uk. dunno up there but gotta be mild as well....forecasters thot that from dec on temperature would have plummeted but it's still hot as hell here.
  3. I was disappointed by the warmer weather today.

    However, this is a two-edged sword. If the weather is going to be warmer then usual, then OPEC will definately cut production without a doubt. They dont want it to slide below 60...

    I wouldnt say its exactly hot here though. It was 35 degrees here in NYC today with a high in the low 40s. Wouldnt say thats "hot".
  4. S2007S


    oil up now because of wintry temps, i thought they were suppose to me warmer than normal...the excuses they use for the move in oil amazes me.

    LONDON (AP) -- Oil prices edged above $63 a barrel Tuesday as wintry temperatures spread across the United States and traders anticipated further production cuts by OPEC nations.