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Zecco.com » General Investing » Screening & Picking » CRUDE OIL!
Last post 05-09-2008, 10:01 PM by koreiko. 2 replies.
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  •  05-09-2008, 5:20 PM 28821

    CRUDE OIL!

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     Oil has broken the $125 psychological mark.  Is it temporary and going to pullback? or $125 have become the support level?

  •  05-09-2008, 8:01 PM 28831 in reply to 28821

    Re: CRUDE OIL!

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    I think it is a bit overdone and should soon pullback some before going higher as summer demand rises and the fed has to do another rate cut to support a failing economy.

  •  05-09-2008, 10:01 PM 28835 in reply to 28821

    Re: CRUDE OIL!

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    I am more of a conspiracy believer, and I think that oil prices are in a straight and tight relation with politics. No one can tell how high it can go, but I can tell you this. If the oil price goes so high that businesses start choking, then we will not see our economy recovered for a long-long while. If this happens, the dollar will be subjected to an accelerated hyper inflation. It looks like the politicians understand it well enough to keep the prices under control so far. So, the price of oil will subside. Moreover, the notion of world running out of oil is a complete nonsense created to spread scare and panic to accelerate price hike and score political points. By the time the world runs out of oil, it will no longer matter, for so many better sources of energy will be discovered.
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