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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 12:26 PM
Original message
with all the turmoil in the markets
and the dollar dropping like a stone... what the hell is this about? not that i am upset...but...huge drops?

PETROLEUM ($/bbl)

PRICE* CHANGE % CH TIME
Nymex Cru Future 105.58 -4.63 -4.20 12:53
Dated Brent Spot 103.09 -4.47 -4.16 13:23
WTI Cushing Spot 107.21 -3.00 -2.72 11:58


PETROLEUM (¢/gal)

PRICE* CHANGE % CH TIME
Nymex Heating Oil Future 303.25 -11.40 -3.62 12:53
Nymex RBOB Gasoline Future 253.54 -15.40 -5.73 12:53

These are BIG intraday swings...

What's up???

sP
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davepc Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 12:31 PM
Response to Original message
1. selling to take profits on record highs
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selador Donating Member (706 posts) Send PM | Profile | Ignore Mon Mar-17-08 12:31 PM
Response to Original message
2. basically
oil is overbought.

as usual retail traders trying to jump in at the highs getting stopped out also helps.
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Speck Tater Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 12:36 PM
Response to Original message
3. In a recession, demand for oil goes down. NT
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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 12:40 PM
Response to Reply #3
4. excellent points...all
i just figured with the dollar in the shitter...and cheney poking around...well...

sP
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enid602 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 12:58 PM
Response to Original message
5. the Dollar
According to oanda.com, the Dollar has been stable @ $1.55 for the last 10 days.
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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-17-08 01:14 PM
Response to Reply #5
6. the dollar has mad huge slides against gold
and the euro over the last months...

http://www.x-rates.com/d/USD/EUR/graph120.html

sP
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