Posted on 12/17/2009 8:08:24 AM PST by blam
Crude Oil Headed Lower?
Commodities / Crude Oil
Dec 17, 2009 - 09:47 AM
By: INO
The crude oil market continues to soften and is now close to some important levels that I think we should look at. In my new video we look at what is happening in this market right now and what we expect to happen in the future.
As we have indicated in our earlier posts, we are now in the official “silly season” for trading. What I mean by that is the markets will be very thin, choppy and can be moved by a relatively small amount of money.
[snip]
(Excerpt) Read more at marketoracle.co.uk ...
That would be a great Christmas present.
If the dollar keeps going down won’t that keep oil prices up?
I think so?
Ed Wallace who writes for the Fort Worth Star Telegram, Businessweek and has a Saturday morning Radio talk show -has a weekly report on oil, he has been talking for two years about the downturn of oil use and the amount that is in storage SHIPS off the various coasts. The year over year stocks and product used keep showing 10%+ declines, but the prices stay UP. He says it is because of speculation nto supply and demand. I fear that if we start to have a good economy gas prices will explode!
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