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Weekly Wholesale Gasoline/Diesel *Special* Pricing #5.1

T

T_Bone

Well-known Member
A couple major events to report. They opened a "special" Sunday NY trading session for oil because of storm Gustav.

Gasoline= $2.76 down $.10gal

Diesel= $3.09 down $.10gal

WT Crude= $110 (about a $5 drop today 9/1/08 ))

Gold= $820 (down $16oz)

*** New low bottom***
There predicting a WT crude bottom at $109, (current low bottom $111 made 2 weeks ago)

T_Bone
 
The time to buy is probably now. Not really sure, but the aftermath of the hurricane seems to correlate with fuel prices and not really before the hurricane hits.
 
Looks like a conspiracy by BIG OIL and the Commidity Traders to drive prices DOWN of course Dick Cheney and George Bush are responsible.If the conspiracy NUTS are going to blame them for the price going up they have to give them credit for the price going down.
 
Man what a morning in oil. She's a falling like a rock. About dam time!

WT Crude= $106

Gasoline= $2.62gal

Diesel= $2.97gal

Gold= $807oz

There predicting $100 crude by the days end.

T_Bone
 
I agree with that. I've been watching the market for several years and I've never seen them open a special session for any market on a Sunday.

What a poker game to be in. Change the rules as you go.

T_Bone
 
Which would mean speculation is driving it down now.Of course commidities had price rises and falls before the commidity market was ever thought of and it was driven by supply and demand.Demand is down because many were priced out of the market or they were forced to reduce consumption.The credit crunch is REALLY coming home to roost now.
 
Believe it or not I just came on here just to check and see if you had an update. The Wife just came in and said you gotta check out the price of oil now, it's dropping like crazy....
My first thought was to come and see what T_Bone had to say.

THANKS..
 
No they don't, it's from the American public going broke and not being able to afford to drive.
Iraq just made a deal for their oil, with China.
 
Let's see, Cheney has a secret meeting with big oil, Bush sells out or gives everything away to big corps, congress calls the oil execs before them and congress themselves won't let them swear in, on and on.........
And your speculation on how everything is just honest and above board?
4 more years
 
Your welcome dlplost,

Well that was short lived as they took WT crude down too the long term chart stop then bought the heck out of oil.

We'll see if enough buying came in for more than a small ralley on a bottom or bottom feeders as they say.

WT crude=$109

T_Bone
 
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