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March 25, 2008

Oil prices dipped below $100 a barrel

The Peak Oil sites had plenty of articles when oil popped above $100 intraday and then articles about oil above $100 and then articles about double digit oil being history Will they be as active if oil goes back below $100 a barrel for an extended period ?

FURTHER READING
Nymex light crude charts

Nymex Brent Crude charts

3 comments:

Gary said...

They'll probably deny it as some kind of "govt. Conspiracy" Anyways these doomers just don't stop and think sometimes. The market fundementals has a lot more to do with Oil then they think. Of course they'll all disagree with that.

Al Fin said...

I expect oil to stay in the same 90 to 110 range until after the November US elections. After that point a lot of off-kilter economic parameters may "magically" normalize.

Anonymous said...

I think the price should rise roughly 10% which is the real rate of inflation now (whether or not the gov. wants to admit it)....but the reality is also demand in the USA & Europe & Japan has not increased in 2 years..but demand from emerging markets is exploding...as a result prices will rise but lets be honest.
Consumers in America are switching to cars that get higher milege...I personally switched from a 20mpg car to a car getting 35mpg (and its not a overpriced hybrid).
As more Americans ditch trucks and SUV's fuel prices can rise but people will be less effected.
I think the higher the price the better...we will have smaller cars and safer roads.