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 ?

Nymex light crude charts

Nymex Brent Crude charts


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 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.