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Geo political conflict. I'm long oil and have been buying into weakness as there are genuine supply constraints coming along. Plus it's a good hedge against the falling dollar. I also believe demand out of China will come roaring back once the olympics are over and they are allowed to burn the stuff again.
Geo political conflict. I'm long oil and have been buying into weakness as there are genuine supply constraints coming along. Plus it's a good hedge against the falling dollar. I also believe demand out of China will come roaring back once the olympics are over and they are allowed to burn the stuff again.
Or quite the opposite... maybe the major ramp up in building/Oil use in the last 7 years was because of the Olympics. Now that it's over, those facilities AND equipment (what are they going to do with a 200 yard wide LCD screen?), in prime locations, and take up tons of land are going to sit fairly idle. Either way, stadiums, parks, fields, aquatic centers, etc. aren't usually considered production sources but sources of leisure.
Furthermore, where are those firework factory workers, thousands of dancers, hospitality people, etc. going to do now? Go back and labor in factories? Global demand has slowed down for consumer products.
"We're going down from stupidly fast last year to really fast this year and just plain ordinary fast next year, which would be in the 8-9 percent range," said Kroeber.
So, what would a global slow down look like on OIL? We'll see.
It reminds me of the stock market; up, down,down,up, down. Think of the people that bought the stock market on a high note and have to draw their annual 4% in retirement on a low note
What is with the oil markets? Up down, up down etc. Its almost amusing at this point.
Like I said somewhere else, driven by speculation. The little guy has the most to loose as the big boys will eventually move to something else. Small movements don't support long term holdings of commodities.
You'd get better returns holding stocks on a company that has high dividend yields or a CD that are starting to get above 4% yields.
Of course the Oil guys are going to say China is going to all of a sudden consume a ton of Oil... but why exactly would they?
Yea, I'm getting a kick out of the markets (since I'm not in it ). The Oil guys must be getting daily heart attacks.
Lots of oil folk watching the stock prices in their 401ks...heard of two who decided to retire in the last month...
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). The Oil guys must be getting daily heart attacks.
