# 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:** 52
**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:** [August 6, 2008, 10:08am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1021 "2008-08-06T10:08:31Z")
[Oil](http://www.marketwatch.com/quotes/?sid=2228932) $117.25 -$1.92 :present: ---
**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:** [August 6, 2008, 10:11am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1022 "2008-08-06T10:11:44Z")
[Oil](http://www.marketwatch.com/quotes/?sid=2228932) $117.25 -$1.92 :present: ---
**Author:** ![Bacon](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bacon/32/7230_2.png) [@Bacon](https://forums.speedlife.net/u/Bacon)\ **Post date:** [August 6, 2008, 10:13am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1023 "2008-08-06T10:13:48Z")
Out of curiousity, where did this info of this $117 selling point come from. Out of curiousity, where did this info of this $117 selling point come from. Out of curiousity, where did this info of this $117 selling point come from. Seeing as I suck at the whole loop thing, and staying with it. ---
**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:** [August 6, 2008, 10:21am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1024 "2008-08-06T10:21:05Z")
> [@FuzzyFish](#): > > Out of curiousity, where did this info of this $117 selling point come from. > Out of curiousity, where did this info of this $117 selling point come from. > Out of curiousity, where did this info of this $117 selling point come from. > > Seeing as I suck at the whole loop thing, and staying with it. right here > [@j\_espo1](#): > > We’re seeing both statistical and anecdotal evidence of very rapidly weakening demand picture," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill. > **The declines accelerated after oil briefly dipped below $122, a key resistance level that triggered technical selling by computers programed to dump oil contracts once prices fall below a certain threshold. The next technical level traders are watching is $117.** > “I think we could see $117 a barrel in a one-week time frame, and this market could eventually get to $100,” Ritterbusch said. ---
**Author:** ![The\_Russian](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/the_russian/32/7414_2.png) [@The\_Russian](https://forums.speedlife.net/u/The_Russian)\ **Post date:** [August 6, 2008, 10:40am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1025 "2008-08-06T10:40:06Z")
So correct me if im wrong. If it closes below $117 automated computer systems will dump a ton of contracts and make it go down rapidly bringing it closer to $100, right? ---
**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:** [August 6, 2008, 10:46am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1026 "2008-08-06T10:46:54Z")
^^ correct. only needs to drop another 25 cents right now to hit that level. Oil $117.25 -$1.92 edit: what really pisses me off is that at $117 a barrel, gas COST would be $2.78 a gallon, and im still paying $4.12 a gallon. yeah i know it takes time to get back to the pump price but prices should be falling a little bit faster IMO ---
**Author:** ![Afrank45](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/afrank45/32/5021_2.png) [@Afrank45](https://forums.speedlife.net/u/Afrank45)\ **Post date:** [August 6, 2008, 10:48am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1027 "2008-08-06T10:48:34Z")
> [@j\_espo1](#): > > ^^ correct. > > only needs to drop another 25 cents right now to hit that level. > > Oil $117.25 -$1.92 that is the best news ive heard in months ---
**Author:** ![The\_Russian](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/the_russian/32/7414_2.png) [@The\_Russian](https://forums.speedlife.net/u/The_Russian)\ **Post date:** [August 6, 2008, 10:49am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1028 "2008-08-06T10:49:19Z")
Yes but doesnt it need to close at that? Not just hit it once during the day? Im just trying to understand it becuase everytime you post a number during the day it closes like a dollar nad a half higher. ---
**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:** [August 6, 2008, 10:50am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1029 "2008-08-06T10:50:34Z")
Don’t go shopping for land yachts just yet. It’s dancing with $119 and Bush is setting the stage for war with Iran. :tinfoilhat: [http://www.cnn.com/2008/WORLD/meast/08/06/iran.iaea/index.html?eref=rss\_world](http://www.cnn.com/2008/WORLD/meast/08/06/iran.iaea/index.html?eref=rss_world) ---
**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:** [August 6, 2008, 10:52am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1030 "2008-08-06T10:52:59Z")
> [@Fry](#): > > Don’t go shopping for land yachts just yet. It’s dancing with $119 and Bush is setting the stage for war with Iran. :tinfoilhat: > > [U.S. warns of 'punitive' action on Iran - CNN.com](http://www.cnn.com/2008/WORLD/meast/08/06/iran.iaea/index.html?eref=rss_world) meh, we arent going to do shit to Iran right now. ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [August 6, 2008, 10:55am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1031 "2008-08-06T10:55:24Z")
Iran certainly is next on the agenda, but Iraq will need to be squared away before we will do anything over there ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [August 6, 2008, 10:56am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1032 "2008-08-06T10:56:20Z")
:lol: Afghanistan isn’t squared away…Iraq isn’t squared away… We won’t be fighting battles on 3 fronts… ---
**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:** [August 6, 2008, 10:58am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1033 "2008-08-06T10:58:39Z")
[http://money.cnn.com/2008/08/06/markets/thebuzz/index.htm?postversion=2008080612](http://money.cnn.com/2008/08/06/markets/thebuzz/index.htm?postversion=2008080612) Sub 100 here we come. ---
**Author:** ![Dr.Stevil](https://avatars.discourse-cdn.com/v4/letter/d/da6949/32.png) [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)\ **Post date:** [August 6, 2008, 10:59am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1034 "2008-08-06T10:59:08Z")
f-ing A :tup: outstanding ---
**Author:** ![The\_Russian](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/the_russian/32/7414_2.png) [@The\_Russian](https://forums.speedlife.net/u/The_Russian)\ **Post date:** [August 6, 2008, 11:00am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1035 "2008-08-06T11:00:31Z")
> [@Fry](#): > > Don’t go shopping for land yachts just yet. It’s dancing with $119 and Bush is setting the stage for war with Iran. :tinfoilhat: > > [U.S. warns of 'punitive' action on Iran - CNN.com](http://www.cnn.com/2008/WORLD/meast/08/06/iran.iaea/index.html?eref=rss_world) fucking iranians ---
**Author:** ![justa4door](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/justa4door/32/7259_2.png) [@justa4door](https://forums.speedlife.net/u/justa4door)\ **Post date:** [August 6, 2008, 11:01am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1036 "2008-08-06T11:01:29Z")
> [@LZ](#): > > :lol: Afghanistan isn’t squared away…Iraq isn’t squared away… > > We won’t be fighting battles on 3 fronts… you forgot **north korea** too ---
**Author:** ![ILCisDEAD](https://avatars.discourse-cdn.com/v4/letter/i/a87d85/32.png) [@ILCisDEAD](https://forums.speedlife.net/u/ILCisDEAD)\ **Post date:** [August 6, 2008, 11:03am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1037 "2008-08-06T11:03:45Z")
[http://money.cnn.com/2008/08/06/news/companies/commoditiesdesk\_valero.fortune/index.htm](http://money.cnn.com/2008/08/06/news/companies/commoditiesdesk_valero.fortune/index.htm) Valero back on the rise. Any thoughts? ---
**Author:** ![justa4door](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/justa4door/32/7259_2.png) [@justa4door](https://forums.speedlife.net/u/justa4door)\ **Post date:** [August 6, 2008, 11:07am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1038 "2008-08-06T11:07:41Z")
its all about the onions ---
**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:** [August 6, 2008, 11:10am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1039 "2008-08-06T11:10:43Z")
> [@LZ](#): > > :lol: Afghanistan isn’t squared away…Iraq isn’t squared away… > > We won’t be fighting battles on 3 fronts… pussy ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [August 6, 2008, 1:14pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1040 "2008-08-06T13:14:32Z")
> [@LZ](#): > > :lol: Afghanistan isn’t squared away…Iraq isn’t squared away… > > We won’t be fighting battles on 3 fronts… We will once there is a draft lol. [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=51) [Next page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=53)