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Early February Forecast
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Forum Posts: 0 		2010-01-22 08:31:02

As predicted, oil prices are making a hasty retreat from $84 and are now under $75. Unfortunately the dollar has strengthened 3% to 1.41 which will pare back the reductions at the forecourt. The market sees further falls in oil to $70, but also sees the dollars move to $1.38 / €1

Expect prices to fall to approx. 1.11 for diesel & 1.21 for petrol & €530 for 1000 litres home heat over the next 2 weeks.

Even better news may be in the offing over the next few weeks. Sopme of the leading market commentators are suggesting that a prolonged period of falling oil prices may be ahead with some expecting prices totumble below $50. There are 2 reasons for this. 1- China wants to cool its economy and is putting steps in palce to avoid excessive growth. & 2. Obama's banking plan will restrict availability of finance for hedge funds to gamble on commodity markets. If Obama's banking paln is pushed though, it will bring musch needed stability to the oil Market and the product will be priced on real demand and not on what some eejit thinks may happen 50 years in the future.

 
prof_frink
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Forum Posts: 24 		2010-01-27 16:31:18

Quote: "not on what some eejit thinks may happen 50 years in the future"

I love the way the post goes from informative and professional and then collapses in the end into an outburst of frustation. You are absolutely right, 10 years from now economists will point to the high price in oil in 2008 as one of the factors making the recession harder for non finanical companies. It may have been possible for them to get through the credit squeeze, but the commodity bubble that formed drained them and their consumers of any disposable income they had.

Nice Post keep up the good work.
mcaul
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Forum Posts: 126 		2010-01-28 07:42:14

:)  - The serious commentary is from dissecting financial market reports and the comment on the eejits is mine from watching oil spike to $150 in 2007 for no reason other that stupid commentators and scaremongerers looking at their crystal ball and making ludicrous statements about what may or may not happen in 50 100 & 200 years. - Thankfully, it looks like a swipe of Obama's pen will make this practice much less a factor.
prof_frink
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Forum Posts: 24 		2010-02-02 10:03:34

Obama's pen mighter than Bush's sword?

(Bush may have though he could lower oil prices with having Iraqi oil flood the market by keeping them out of Opec.)
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