Whats still holding oil up?? :confused: Why wont it just smash to 101???

Discussion in 'Economics' started by spanish89, Sep 10, 2008.

  1. What is actually now holding oil up above $100?? :confused:

    The dollar basically gets 100+points stronger ever single day for weeks now,
    demmand is lowering each day as we slipping further into recession,
    So what is still holding oil up above 101???

    Who out there would be buying it at this area?? lol

    But also on the other side its been about 9days of down in crude now, crashing almost $15s in 1week.

    But how many more days can we keep having crude down for in a row?? :confused: :eek: :eek:
  2. 1) Hurricanes?
    2) Impending cold weather?
    3) Commercial buying?
    4) War?
    5) Terrorism?
  3. 6.) Shorts
  4. And maybe, just maybe, the fundamentals are somewhat tight... Look at inventories on gasoline and crude in the US. Very low, actually.

    Just like the news media was pumping supply/demand and not speculation, now they are pumping 'global slowdown' the same way. Look at the inventory reports and you'll see demand destruction is not that significant here.

    I wish I had access to recent chinese data to see the dynamic there and impact on global supplies.
  5. eagle


    Because it wanted. Worthless to seek reasons to justify or to refute, there are either millions of them.
  6. A slight demand destruction isn't enough to bring oil to a complete crash.
    Production increases to meet demand for the next decade just aren't enough.

    This is just an expected correction to an overbought market, but not a long lasting bear market.
  7. Fukkkkkk brent crude up nearly 300ticks in after hours...

    Time to close my oil short on US light. lol
  8. GRRRR soo close but its not going below 100.50!! :confused: :confused:

    Who on earth are the idots who are still buying it??? lol
  9. Blame the speculators
  10. GRRRR now this is just taking the fucking piss now!! :mad: :mad: :mad:

    Every trader and analyst keeps talking about oil going back to $80/90 atleast, maybe 60/70s...,
    but then as son as it gets too near to $100 everyone comes in and starts to rebuy it again???

    I dont get why anyone would do this though?? :confused:

    They cant actually think the oil wont fall below $100 this week or next at latest...,
    so why buy??
    #10     Sep 11, 2008