Crude oil prices...

[Headless Thompson Gunner]

Has anyone been watching the price of crude this week?  It's down $10 a barrel and still falling.  Oil had a $6 down day last week too, if I remember correctly, but that loss was erased by Iran's missile tests.

Does it look to anyone else like the speculators are getting jumpy?

[Monkeyleg]

Take a look at this chart: http://tfc-charts.w2d.com/chart/CO/88

Lots of volume, closes below the moving averages, other bad technical signs. I'd say a lot of people are taking profits and waiting for buy signals.

[Regolith]

Well, here's hoping it keeps falling.  It'd be nice if it was the beginning of an oil bubble bursting, but I kind of doubt we'd be that lucky.

[Manedwolf]

It went down because of a possibility of more supply with the offshore drilling.

That's how speculation works.

And it's why the Dems have their heads up their *** when they whine that it'll take a while to deliver oil. The market is FUTURES.

[Monkeyleg]

Manedwolf, take a look at the December '08 chart here. It doesn't look like the markets are betting on prices coming down anytime soon. Granted, the back contracts are thinly traded, but there's no premium on them. Compare the oil charts with those of gold, where the back contracts have a significant premium, which suggests more room for the price of gold to rise.

[Headless Thompson Gunner]

Crude dropped another $5 a barrel today.

And the dow is back up into the mid 11k range...

[seeker_two]

Supply and demand (as well as threatened gov't oversight that cuts into profits) is starting to control the market instead of the inflated speculation.....

Of course, I sure we can expect gas prices to go down as rapidly.... 

[coppertales]

I was thinking this morning that with the large drop in the price of oil, there is going to be a refinery fire somewhere to halt this decline in price.  When I watched the news this morning, there is was, a refinery fire somewhere in Africa.......I have been watching this trend for many years now........chris3

[seeker_two]

I was thinking this morning that with the large drop in the price of oil, there is going to be a refinery fire somewhere to halt this decline in price.  When I watched the news this morning, there is was, a refinery fire somewhere in Africa.......I have been watching this trend for many years now........chris3

Wanna bet there's a pipeline malfunction sometime b/t now and next week?.....

[Brad Johnson]

Supply and demand (as well as threatened gov't oversight that cuts into profits) is starting to control the market instead of the inflated speculation.....

Of course, I sure we can expect gas prices to go down as rapidly.... 

Crude oil price and gas price are not directly related.  Each is traded seperately and prices vary independently.

BRad