R.I.P. Scout26
I think there needs be a law that commodity traders have to have the facilities for full possession of the entire product to be able to trade.
Of the three gas station close by the house, two raised their prices .10 for the holiday to $2.59. The third station left theirs at $2.45. Of course, they got most of the business over the weekend. Those two stations that raised their prices have yet to drop them back to pre-holiday levels as of Wednesday. I'm starting to think they may have been a regular price increase having nothing to do with the holiday weekend. If the third station raises their prices in a few days we'll know for sure.
WTI was down a $1.69 during the day, but has recovered .32 in after hours electronic trading as of this writing. The Iraq announcement will wear off in a day or three and oil will recover to the $60.50-61.50 range where it's been hovering lately (in my non-expert opinion).
Might be some SERIOUS spikes in gas prices over the next week or so. WTI and Brent were both up in excess of 4%.Gasoline futures were up over 5%, and heating oil futures were up over 4.5%All for a US draw down of 2.8 million barrels of crude over the last week...Still leaving inventories in the record breaking territory. *expletive deleted*ing traders are such bitches.
That wasn't a bad idea, Wash, but eliminating the middle man is never simple as it sounds.About fifty percent of the human race is middle men and they don't take kindly to being eliminated. This quadrant, we play nice. We got enemies enough as it is.
Actually it is supply and demand. They are trying to forecast both in the futures martkets. A lot of factors go into that, various wars, current and projected production levels, projected demand (like summer driving season and how the low prices may affect that), along with a large variety of other factors.
So if commodity traders have to have the ability to "possess" the commodity, then travel websites have own airlines and hotels? NVOCC's need to own ships and airplanes? What about retailers that don't maintain any inventory, but drop ship instead? Should they be allowed to do it?
That is your fault for living on the left coast with all those damn tree huggers.
Yea, but can buy her high ABV beer cold.