Light Sweet Crude Oil Futures (CL\F15)

[Bertsllc]

Ouch here too. -9%

[Myself °¿°]

/CL looking-@-the-over-head-resistance http://tos.mx/lrx3q2 pennies away

[Bertsllc]

WOW! Look at oil now!
Looks like China

[Bertsllc]

Lol. Almost. But just wait till they start bombing the oil fields and close down the gulf

[hotrod34racer]

Are we there now?



Cheers Buds \_/

[Bertsllc]

I don't think they factored in WW3

[hotrod34racer]

I could get used to it! Diesel is cheaper than regular gs now here, whats up with that?



Cheers Buds \_/

[Bertsllc]

Analysis - Get used to cheap oil, derivatives markets say

http://finance.yahoo.com/news/analysis-used-cheap-oil-derivatives-112432741.html

[hotrod34racer]

WTI oil hits fresh 6-year low after bearish U.S. supply data

Investing.com - West Texas Intermediate oil futures fell to the lowest level since March 2009 on Wednesday, after data showed that oil supplies in the U.S. rose to the highest level on record, exacerbating fears over a glut in supplies.
On the New York Mercantile Exchange, crude oil for delivery in April slumped $1.08, or 2.49%, to trade at $42.38 a barrel during U.S. morning hours. Prices were at around $42.70 a barrel prior to the release of the inventory data.
Meanwhile, the May Nymex contract was down 84 cents, or 1.85%, at $44.35 a barrel, compared to $44.52 ahead of the report.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories rose by 9.6 million barrels in the week ended March 13, compared to expectations for an increase of 3.8 million barrels.
The report also showed that total motor gasoline inventories decreased by 4.5 million barrels, compared to expectations for a drop of 0.9 million, while distillate stockpiles increased by 0.4 million barrels.
Total U.S. crude oil inventories stood at 458.5 million barrels as of last week, the most in at least 80 years, indicating that cheap prices have yet to affect output.
According to industry research group Baker Hughes (NYSE:BHI), the number of rigs drilling for oil in the U.S. fell by 56 last week to 866, the 14th straight week of declines.
The number of working U.S. oil rigs is 46% lower than an all-time high of 1,609 hit in October.
Market players have been paying close attention to the shrinking rig count in recent months for signs it will eventually reduce the glut of crude flowing into the market.
Concerns over diminishing spare capacity to store excess oil in the U.S. and China also weighed, according to market participants.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for May delivery declined 35 cents, or 0.64%, to trade at $53.17 a barrel.
London-traded Brent prices touched $52.57 on Tuesday, the lowest level since February 2, before closing at $53.51, down 43 cents, or 0.8%.
Meanwhile, the spread between the Brent and the WTI crude contracts stood at $10.79 a barrel, compared to $8.32 by close of trade on Tuesday.
Oil prices have fallen sharply in recent months as OPEC resisted calls to cut output, while the U.S. pumped at the fastest pace in more than three decades, creating a glut in global supplies.
Elsewhere, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.1% to 99.92, moving away from recent 12-year peak of 100.77.
Market participants were looking ahead to Wednesday’s Federal Reserve statement to see if it would drop its reference to being patient before raising rates.
Traders would interpret such a move as a sign that the central bank could raise rates as early as its June monetary policy meeting.

[Bertsllc]

WTI new 52 week low 42.06 !

[Bertsllc]

yep i think the same.

[hotrod34racer]

And you have a 50 50 chance we will make a deal with Iran, if that happens, they are so cash strapped right now, we could see gas at $1.49 Lol...

I think we will see the deal in the price of WTI before any announcement.



Cheers Buds \_/

[Bertsllc]

WTI going to break bottom

[hotrod34racer]

Oil down over 7% at the open today!



Cheers \_/

[Bertsllc]

Citi: Oil Could Plunge to $20, and This Might Be 'the End of OPEC'

The recent surge in oil prices is just a "head-fake," and oil as cheap as $20 a barrel may soon be on the way, Citigroup said in a report on Monday as it lowered its forecast for crude.

http://finance.yahoo.com/news/citi-oil-could-plunge-20-172206724.html

[Bertsllc]

NICE

[hotrod34racer]

Well thats handy inst it? Lol...

Got a load of diesel today for just over $2 a gallon...



Cheers Buds \_/

[Bertsllc]

More Oil Trouble...

Oil workers on strike in California and across U.S.



Updated 58 mins ago


CARSON, Calif. and HOUSTON (KABC) --
Oil workers from coast to coast were on strike Sunday. They started to walk off the job around midnight when their union failed to reach a deal with the energy industry. It's not clear how many workers are on strike.

The contract in dispute covers about 30,000 workers at refineries, pipelines, oil terminals, and petrochemical plants across the country. A Tesoro spokeswoman confirmed work stoppages at the company's operations in California, Washington and North Dakota. In California, Tesoro refineries are located in Carson and Martinez.

http://abc7.com/news/oil-workers-on-strike-in-california-and-across-us/500021/

[Bertsllc]

watch these ernings next week...

[Bertsllc]

WTI just hit a new 52 week low of 43.63

[hotrod34racer]

I did, the song is starting to play faster and faster

It will be different this time IMO I think we are going to see $3-$5-$7 moves per day very shortly.

Why am I talking silver on the oil board? Lol...

Am I post 100? No not yet!



Cheers Buds \_/

[Bertsllc]

notice spot is trading? never really stoped tonight. strange

[hotrod34racer]

As per CNN Money



IT'S FREE NOW! Lol...



Cheers Buds \_/

[Bertsllc]

44.22 low

[Bertsllc]

Could be. It hit 46.11 then came back to 46.85 so far

[hotrod34racer]

Might find temporary support there?



Cheers Buds \_/

[Bertsllc]

heading south. 46.85 is were it stoped last time. i think lower this round

[Bertsllc]

oh boy, lol. keep him involved. they say my sister was that way when i was born

[hotrod34racer]

Good now my other boy not so much, hes really pissed about his brother being here, not sure what to do?



Cheers Buds \_/

[Bertsllc]

lol, must be a Washington thing. mine works fine. it did not trade on the holidays. WTI trades later BRENT should be just starting to trade now.
hows the new one?

[hotrod34racer]

I don't know? it doesn't work on my Iphone anymore either.

[Bertsllc]

Christmas ?

[hotrod34racer]

Ticker here seemed to have stopped working a week or so ago, any ideas as to why?



Cheers Buds \_/

[Bertsllc]

yep, got its bounce and now back to the program.

[hotrod34racer]

Price still falling!

[Bertsllc]

Nymex Crude futures for February delivery decline 39 cents at $52.30 a barrel, lowest since may 2009
London Brent crude for February delivery was down 52 cents at $55.90 a barrel, after settling down 91 cents.

Source: FxWire Pro - Commodities

04-January-2015 18:53:26

© FxWire Pro 2014. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.

[Bertsllc]

Oil Set for Biggest Slump Since 2008 as OPEC Battles U.S. Shale
http://www.msn.com/en-us/news/money/oil-set-for-biggest-slump-since-2008-as-opec-battles-us-shale/ar-BBhmLJ1?ocid=iehp

[hotrod34racer]

I don't think it will matter, your other idea is more on track IMO nothing to see here move along

Good Christmas?

[Bertsllc]

maybe Costa Rica

[hotrod34racer]

That is most of the US Lol... the real question should be how fast can you build an army?



Cheers Buds \_/

[Bertsllc]

lol, looks like were both in trouble here bud...

[Bertsllc]

here too. it might be a last chance to lock in a cheap interest rate. it may go up soon

[hotrod34racer]

For me 80 is better than 103 Lol... the market here for homes and alike are just freaking booming, I have not seen this since pre 08



Cheers Buds \_/

[Bertsllc]

Saudi Arabia Calculates 2015 Budget on Oil Price $80 Barrel: Expert

http://sputniknews.com/business/20141226/1016290332.html

[Bertsllc]

[hotrod34racer]

I get 505 on a 39 gallon load of diesel but call half tank empty! Lol... Now I'm going to run it down, diesel at the state motor pool is at $2.97 a gallon and most places are still $2.49-$2.59 so it it drops just a few more bucks a barrel I could save $20 by waiting. Still looking into a 100 gal tank for the bed, that would be way cool IMO 2000 mile range? Yes I'm into that Lol...



Cheers Buds \_/

[Bertsllc]

lol i hear that. it took $100. to fill my tank before. i use premium only. i just dump 50 bux in every now and then and the computer gives me 300 miles

[hotrod34racer]

Fuel prices dropping so fast here Im going to wait for a week to see before loading more.



Cheers Buds \_/

[Bertsllc]

WTI Crude +6.%

[Bertsllc]

so i been thinking. cheap oil is begining to put some stress on the solar markets. here are some to watch...

http://www.altenergystocks.com/comm/content/solar-stocks/