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| Oil price guesses 6 months 1 year (Page 3/5) |
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Raydar
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APR 07, 07:50 PM
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rinselberg
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APR 11, 10:17 AM
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$98
9:02am Eastern time, MONDAY, APRIL 11, 2022. The Washington Post.
Oil prices plunged Monday morning as global markets reacted to continued coronavirus lockdowns in China.
West Texas Intermediate crude, the U.S. benchmark, fell 4.8 percent to roughly $93.50 per barrel, while the international Brent crude benchmark was down 4.5 percent to around $98 per barrel.
Oil prices have been trending downward for weeks, mostly erasing a speculative run-up that briefly pushed oil prices over $130 per barrel after Russia invaded Ukraine in late February. The U.S. and other nations are planning to release additional oil supply into the market, partially offsetting the war’s effect on oil prices. Global markets have also been unsettled by the continued covid lockdown in China and by the Federal Reserve’s push to increase interest rates as a way of controlling inflation.
Stocks lost ground in premarket trading. Futures linked to the Dow Jones industrial average fell 0.4 percent, while the S&P 500 dropped 0.7 percent. The tech-heavy Nasdaq index lost 180 points, or 1.3 percent. Hong Kong’s Hang Seng Index was down 3 percent Monday morning, while Germany’s Dax was down 0.9 percent.
Gasoline prices have leveled off somewhat but remain sharply elevated. The national average gas price reported by AAA stood at $4.11 per gallon Monday morning, down 7 cents from a week ago. A year ago the average price was $2.86 per gallon.[This message has been edited by rinselberg (edited 04-11-2022).]
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2.5
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APR 13, 02:52 PM
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How low do you think they'd let the USA reserves get?
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ray b
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APR 13, 03:38 PM
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| quote | Originally posted by 2.5:
How low do you think they'd let the USA reserves get? |
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our real reserves are in the ground the tanks and salt dome reserves are only the ready stuff instantly marketable
far far more is in the ground we can't run dry anytime soon
I should have bought puts on the $130 oil 30+ a unit is a nice return on a buck investment/bet
local gas is back under 4 bucks now a few places
point being you can play the crazy swings if you pay a bit of attention
the cheap prices AND the crazy highs are the time to place bets [called options or puts]
day to day not so much but when it soars or drops that is the time to bet return to avg prices[This message has been edited by ray b (edited 04-13-2022).]
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Raydar
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MAY 10, 12:10 PM
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Last | 12:00 PM EDT
$100.07
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maryjane
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MAY 10, 02:51 PM
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| quote | Originally posted by 2.5:
How low do you think they'd let the USA reserves get? |
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You think they are low?
In Tx/NM alone...
The Permian Basin is one of the oldest and most well-known hydrocarbon-producing areas. Since the first well drilled in the basin in July of 1920, over 30 billion barrels of crude have been recovered, with experts predicting there are at least 20 billion barrels remaining. The Permian pumps around 4 million barrels/day, which makes it the largest producer in the US and 2nd largest in the world just behind the Ghwar region of Saudi Arabia. New drilling technology, including fracking, is a big reason why the Permian has increased production. According to RRC, “The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields.” It comprises about 40 percent of the United States’ oil production. The recent increases have also led to the United States become the world’s 2nd largest producer of crude oil.
There are nearly 200,000 oil and gas wells in the Permian Basin in Texas alone.
Just a tiny portion of the permian basin. If the wind is right, you can smell the Permian Basin in Austin 1/2 way across Texas.
Smells just like........................................................$$$$$$$$$$$$$ money.
Reportedly, there is another giant, but unproven field in Colorado, but 'we' aren't allowed to drill there...[This message has been edited by maryjane (edited 05-10-2022).]
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blackrams
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MAY 12, 06:06 AM
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At this point, I don't really care how high the price of crude goes. Hoping it hits an all-time high mark and stays there until the mid-term elections.
Those that supported Biden/Harris and the Social/Communist agenda can now harvest the seeds they've sown.
(Yean, I know the rest of us will continue to suffer but, hopefully a few Dems and Independents will figure it out.)
Rams
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Raydar
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JUN 22, 07:54 PM
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Was ~$120 on 6/9.
Now it's ~$104.
News said it was down 7%. Not sure from what...
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ls3mach
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JUN 23, 12:23 AM
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I don't have a guess. I did a smidge of reading on this bill that passed with no republican support.
Here is my question.
Years ago Don said people were getting rid of big boy toys and then he said he was seeing a lot of abandoned horses and such because upkeep.
I am older now and have experienced all kinds of economical changes good and bad since I read it. I get it now and think we are going to see a whole lot of that. I don't know much about the business of such, but I worked some FAA shows and equestrian stuff a couple years back.
Is this something you are already seeing Don? Really this seems more a sign than losing your overleveraged assets.
This is neglect of something you loved due to poverty (real or perceived).
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maryjane
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JUN 23, 12:44 AM
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That was in late 2011's drought.
Too expensive to keep pleasure horses and many in cattle sold off (or out) as well.
If you took cows to a sale barn and stayed to watch the sale, it was very possible to come back to your empty cattle trailer and find someone had stuck a horse in it. I saw lots of good horses run thru the ring and never got a bid. A round bale of hay that had previously sold for $35 a roll was bringing over $100/roll. (We're almost there again)
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