# The "Oil Prices" thread. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [March 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739 "2008-03-10T10:44:58Z")\ **Posts on this page:** 20\ **Page:** 36
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 9, 2008, 6:06am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/701 "2008-07-09T06:06:35Z")
> [@j\_espo1](#): > > those idiots are gonna get much more than they can handle. > [@Fry](#): > > You mean money right? They’re going to get more money than they can handle. > > Think we’ll see $150 today? i mean: Iran has threatened to close the Strait of Hormuz, conduit for about 40 percent of globally traded oil, if it is attacked. The U.S. military says it will prevent any such action. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 9, 2008, 6:17am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/702 "2008-07-09T06:17:10Z")
> [@Fry](#): > > I predict oil closes at $146.13 today. Doubtful since today the inventory report comes out that should show a drop in demand over a holiday weekend, which is huge. ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 9, 2008, 6:43am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/703 "2008-07-09T06:43:37Z")
> [@JayS](#): > > Doubtful since today the inventory report comes out that should show a drop in demand over a holiday weekend, which is huge. when/where does this report come out? ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 9, 2008, 6:49am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/704 "2008-07-09T06:49:20Z")
> [@j\_espo1](#): > > when/where does this report come out? 10:35am today. CNN, Fox, CBS Market Watch will all give a synopsis of it as soon as it’s released. ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 9, 2008, 6:53am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/705 "2008-07-09T06:53:18Z")
> [@JayS](#): > > 10:35am today. CNN, Fox, CBS Market Watch will all give a synopsis of it as soon as it’s released. :tup: thanks. ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 9, 2008, 7:38am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/706 "2008-07-09T07:38:12Z")
U.S. gasoline supply up 900,000 brls last week: Energy Dept. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 9, 2008, 7:47am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/707 "2008-07-09T07:47:23Z")
Yep, but unfortunately oil supplies fell 5.9 million barrels, more than expected, so oil prices are heading back up. 140+ by the end of the the day I bet. ---
**Author:** ![JEG](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jeg/32/7246_2.png) [@JEG](https://forums.speedlife.net/u/JEG)\ **Post date:** [July 9, 2008, 8:28am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/708 "2008-07-09T08:28:15Z")
fawking gayyyyy ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 9, 2008, 8:35am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/709 "2008-07-09T08:35:05Z")
> [@JEG](#): > > fawking gayyyyy :lol: That’s probalby the most truthful, factual, and spot on post in this entire thread! 🤣 ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 9, 2008, 8:41am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/710 "2008-07-09T08:41:10Z")
From the marketwatch ticker (jesus I need to get some real work done today) > Crude reverses gains, falling 0.2% to $135.77 a barrel I’m starting to wonder if yesterday’s big drop might have actually restored a little downside risk to these oil investors. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 9, 2008, 9:59am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/711 "2008-07-09T09:59:57Z")
> [@j\_espo1](#): > > i mean: Iran has threatened to close the Strait of Hormuz, conduit for about 40 percent of globally traded oil, if it is attacked. The U.S. military says it will prevent any such action. And the pentagon says Iran is capable of doing what they say they are. ---
**Author:** ![66impalass](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/66impalass/32/7429_2.png) [@66impalass](https://forums.speedlife.net/u/66impalass)\ **Post date:** [July 9, 2008, 11:20am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/712 "2008-07-09T11:20:57Z")
> [@JayS](#): > > From the marketwatch ticker (jesus I need to get some real work done today) join the club… why do i keep watching the prices today… sigh. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 9, 2008, 1:28pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/713 "2008-07-09T13:28:15Z")
Oil closes up .01. Yeah, one penny. On a day when Iran fired off missiles and the inventory report showed we drew down 5.9 million barrels. I’d say that’s pretty good news. Maybe we’ll see more price drops by the end of the week. ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 9, 2008, 1:35pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/714 "2008-07-09T13:35:18Z")
yayyyy ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 10, 2008, 12:14pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/715 "2008-07-10T12:14:19Z")
Oil settles $5.60 higher to $141.65 as Middle East tensions have investors on edge. OPEC reports that global demand will grow by 50% by 2030 ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 10, 2008, 12:42pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/716 "2008-07-10T12:42:20Z")
Further proof that there is too much speculation in the market though. Down $9 in 2 days then up $5.60 in one, with no spikes in supply or demand on any of those days. But yeah, speculation has nothing to do with the price. :cjerk: ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 10, 2008, 12:56pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/717 "2008-07-10T12:56:35Z")
> [@JayS](#): > > _ **Further proof that there is too much speculation in the market** _ though. Down $9 in 2 days then up $5.60 in one, with no spikes in supply or demand on any of those days. > > But yeah, speculation has nothing to do with the price. :jerkit: +1 ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 10, 2008, 5:48pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/718 "2008-07-10T17:48:35Z")
the really funny part is that the speculation that does exist in the oil market is financed by the US government and federal reserve. You know all those extra loans that the federal reserve made available through the discount window to firms after the Bear Sterns incident? Yeah, where do you think that money went? I bet is went straight to the only part of the market that was a bull… OIL and commodities. It makes me laugh when congress tries to blame speculators on the price of oil. Anywho, I say speculators account for no more than $20 of the price of oil. If saudia arabia really had the oil and really were mad about the high prices of oil like they say they are, they would just flood the market. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 10, 2008, 5:54pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/719 "2008-07-10T17:54:55Z")
^ Why would they do that though? There is no issue with supply as evident by the lack of gas lines, rationing etc. Putting more oil on the market isn’t going to do anything when the price is artificially inflated. ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 10, 2008, 7:04pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/720 "2008-07-10T19:04:57Z")
The price is artificially inflated only so much. There is a real demand issue going on whether you choose to believe it or not. And due to exponential growth in the demand of oil and the stagnant and soon to be decrease is supply, it will keep getting worse. If oil demand keeps growing at present levels, it will take an oil discovery the size of ALL THE OIL WE HAVE EVER CONSUMED ALEADY to keep up with growth in the next decade. There has not been a major oil discovery in almost 40 years. [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=35) [Next page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=37)