Omega Owners Forum

Chat Area => General Discussion Area => Topic started by: Richie London on 07 January 2009, 16:49:50

Title: the rise in oil prices
Post by: Richie London on 07 January 2009, 16:49:50

http://biz.yahoo.com/ap/090106/oil_prices_future_shock.html

 :-?

Title: Re: the rise in oil prices
Post by: Del Boy on 07 January 2009, 16:56:50

Was bound to happen anyway. But then again the press will write anything for a story.

Title: Re: the rise in oil prices
Post by: Richie London on 07 January 2009, 17:10:38

Quote

Was bound to happen anyway. But then again the press will write anything for a story.

obvious they will cut back production, price is too low

Title: Re: the rise in oil prices
Post by: Nickbat on 07 January 2009, 18:33:22

Idle speculation, IMHO.

Remember all those analysts that said oil would reach $200 in the last bubble?

As LSG1 said, the press will print anything...provided it's negative in tone. >:(

Title: Re: the rise in oil prices
Post by: Omega man 2 on 07 January 2009, 18:38:52

It's the problems in Gaza and Isreal pushing up the price.
Every time OPEC announce a cut there is about a week of rising prices and then the downward spiral continues.
With the global economy the way it is there is simply not enough demand for the price to rise very much (if it rises too much the economy will suffer and back to square one) if this thing in Gaza is sorted soon enough it will drope even lower.