it also means US economy will recover soon...hopefully. because oil cannot continue climb at this rate. the dollar will prevail. the oil must fall. and more wars must brew in the middle east. more arabs will fall because their leaders are selling them out.
"OIL MUST FALL", Oh Yeah, It might, BUT to what.... You happy with 120 or 110 ? My friend, It is doubled since last year. You think OIL @ 100 will put everything back to normal. IT needs to go back to 80, Otherwise we are still screwed.
Teleportation technology would be a GREAT way to screw all the Arabs over. Who needs oil when u can teleport ? Ok sorry, back to topic Remember when oil was at $134 and the media was screaming 'to the moon'. Now we've sold off $12. Remember when oil was at $100 or so, and the media screamed to the moon, and we sold off a bit. If history repats itself, we will be back over $134 before u know it.
Oil will correct, commodities will correct, once the federal reserve finally steps in to prop the dollar up, commodities will see a huge correction. Inflation is running out of control and any signs of the economy running a bit a better and the federal reserve will start to prop up interest rates once again. As for oil, many here are just too bullish, don't question the next 30-40% correction in commodities when it takes place because it will.
This thread contains some lame ass commentary. Who do you all really believe is profiting the most from record oil profits? Hint: It's entities, both governmental and non-governmental, a lot closer to your homes than you obviously believe.
exactly what i wanted to say. i am seeing increased number of "invest in oils now get rich" advertisements.... from contrarian pov, possible that such major correction will occur. i think there will be more than one wave of correction. more rogue trades plz.