Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You think not. Wait until next Friday when oil closes in the $95 range!
Now you are dreaming. I honestly think we could see it rise a bit early next week depending on how the meeting in Iran goes. I heard Condi talking pretty tough on Iran this afternoon. If everything remains as is, and no new fears escalate in the Middle East or Nigeria, we might see the 110s by next Friday.
Quote:
Originally Posted by mojo_1979
No bubble, the price drop is temporary. Oil will end the year above $150 a barrel.
The real free fall is the US Dollar. How can oil keep falling when the US Dollar is in a free fall?
We shouldn't go much over $150 unless there is a major hurricane in the gulf or a new war in the middle east. Much demand destruction is occurring, especially in the $140 range. If they could have busted $150, they would have with all the momentum they had. I could be wrong though.
Write it down, "oil will never, I repeat never, dip below $100 again!" I agree it is in decline, but it is temporary and a healthy correction.
Don't be so sure. Theoretically, if we were to drill in ANWR and offshore, and at the same time there was to be a recession in China, we could end up in the $20 range fast. If just one of those happens, we would end up in the $40-$60 range fast.
I predict that, on Christmas Day, oil will be in the $80 to $90 range.
So what is your prediction for the US Dollar on Christmas Day? The value of the Dollar and the price of oil go hand in hand. It is foolish to predict the price of oil without considering the value of the Dollar.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
