Crude Oil Hits 3 Mos. Low! - GoFuckYourself.com

DateDoc · 08-08-2008, 08:23 AM

NEW YORK (MarketWatch) -- U.S. stocks rose sharply in morning trade Friday, adding on to earlier gains as the dollar continued to rally and crude oil prices fell to three-month lows. Crude oil for September delivery was last down $3.42 at $116.60 a barrel, near three-month lows, fueling a broad rally in consumer-related stocks. The Dow Jones Industrial Average ($INDU:11,623.99, +192.56, +1.7%) gained 202 to 11,633, with all but one of its 30 components advancing. The S&P 500 index ($SPX:1,283.67, +17.60, +1.4%) rose 17.25 points, or 1.4%, to 1,283, while the Nasdaq Composite (COMP:2,393.64, +37.91, +1.6%) gained 38 points, or 1.6%, to 2,393.

http://www.marketwatch.com/news/stor...=TQP_Mod_mktwN

DateDoc · 08-08-2008, 12:37 PM

closed at $115.20

stereolab · 08-08-2008, 12:40 PM

oil at $115 a barrel is good news?

DateDoc · 08-08-2008, 12:41 PM

Quote:

Originally Posted by stereolab

oil at $115 a barrel is good news?

well, when it was at $140 before sure it is good news.

stereolab · 08-08-2008, 12:48 PM

Quote:

Originally Posted by DateDoc

well, when it was at $140 before sure it is good news.

get back to me when it's back down to between $50 and $75 (in other words - never).

Ross · 08-08-2008, 12:58 PM

I'd say $115 a barrel is good news. Hopefully it keeps dropping. I think the gas stations need to pass the savings onto their consumers faster tho. Right now I'd be happy if it just dropped down to under $100 again.

kenny · 08-08-2008, 01:14 PM

We've seen significant demand destruction in the $130+ range.

There can only be so much risk premium factored into a barrel of crude.

I wonder how many people out there placed wild bets at $130+ at a 5% margin hoping crude broke $150?

Do the math.

The minimum to buy is 1000bbl at a 5% margin.

130 x 1000 = $130,000

5% is $6500

so for $6500 you can control $130,000 worth of oil at $130 per bbl.

Oil goes up to $147 per bbl you make $17,000 off your $6500 investment.

Oil drops to $115 you've lost $15,000 plus $6500. At these are just the minimums!

There has to be a few pissed speculators out there.

Iron Fist · 08-08-2008, 01:47 PM

Needs to be under $100 a barrell... so we can all go back to wasting gas like a motherfucker again and putting the pedal to the metal!

woj · 08-08-2008, 02:13 PM

Amazing how all the fools fools claiming it will reach 200 by the end of the year suddenly disappeared ...

stereolab · 08-08-2008, 03:08 PM

Quote:

Originally Posted by kenny

We've seen significant demand destruction in the $130+ range.

There can only be so much risk premium factored into a barrel of crude.

I wonder how many people out there placed wild bets at $130+ at a 5% margin hoping crude broke $150?

Do the math.

The minimum to buy is 1000bbl at a 5% margin.

130 x 1000 = $130,000

5% is $6500

so for $6500 you can control $130,000 worth of oil at $130 per bbl.

Oil goes up to $147 per bbl you make $17,000 off your $6500 investment.

Oil drops to $115 you've lost $15,000 plus $6500. At these are just the minimums!

There has to be a few pissed speculators out there.

ahhh leverage. the cause of and solution to all of life's problems.

Rodent · 08-08-2008, 04:45 PM

80$ a barrel please

brassmonkey · 08-08-2008, 04:59 PM

if people stopped using it 1 day just one the price would drop fast

bushwacker · 08-08-2008, 06:22 PM

Quote:

Originally Posted by sharphead

Needs to be under $100 a barrell... so we can all go back to wasting gas like a motherfucker again and putting the pedal to the metal!

yeah, my hummer is starting to grow roots.

bronco67 · 08-08-2008, 06:25 PM

gas prices are coming down, but its only so we'll be happy with our new standard, which will be $4.00/gallon gas.

It makes sense. Raise it to ridiculous levels and make everyone squirm, then bring it back down to make us happy to see lower prices, which are still way above what they were a few months ago.

421Fill · 08-08-2008, 06:27 PM

Quote:

Originally Posted by kenny

There has to be a few pissed speculators out there.

good, I'm glad.

Spunky · 08-08-2008, 07:13 PM

We are still getting raped at the pump

Chauncy · 08-08-2008, 07:17 PM

Quote:

Originally Posted by kenny

We've seen significant demand destruction in the $130+ range.

There can only be so much risk premium factored into a barrel of crude.

I wonder how many people out there placed wild bets at $130+ at a 5% margin hoping crude broke $150?

Do the math.

The minimum to buy is 1000bbl at a 5% margin.

130 x 1000 = $130,000

5% is $6500

so for $6500 you can control $130,000 worth of oil at $130 per bbl.

Oil goes up to $147 per bbl you make $17,000 off your $6500 investment.

Oil drops to $115 you've lost $15,000 plus $6500. At these are just the minimums!

There has to be a few pissed speculators out there.

and that is why the futures market is a tough racket

TidalWave · 08-09-2008, 12:09 AM

you guys are acting like it can't go back up again

D Ghost · 08-09-2008, 12:19 AM

fucking great

emjay · 09-22-2008, 12:22 PM

Quote:

Originally Posted by TidalWave

you guys are acting like it can't go back up again

It just did. Closed at $120.92/barrel, up $16.37...

Bojangles · 09-22-2008, 02:16 PM

Awesome. It's going to raise again, though.

fuzzylogic · 09-22-2008, 02:38 PM

Quote:

Originally Posted by emjay

It just did. Closed at $120.92/barrel, up $16.37...

best to fill up now to save 2bucks on a tank?

08-08-2008, 08:23 AM	#1
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	Crude Oil Hits 3 Mos. Low! NEW YORK (MarketWatch) -- U.S. stocks rose sharply in morning trade Friday, adding on to earlier gains as the dollar continued to rally and crude oil prices fell to three-month lows. Crude oil for September delivery was last down $3.42 at $116.60 a barrel, near three-month lows, fueling a broad rally in consumer-related stocks. The Dow Jones Industrial Average ($INDU:11,623.99, +192.56, +1.7%) gained 202 to 11,633, with all but one of its 30 components advancing. The S&P 500 index ($SPX:1,283.67, +17.60, +1.4%) rose 17.25 points, or 1.4%, to 1,283, while the Nasdaq Composite (COMP:2,393.64, +37.91, +1.6%) gained 38 points, or 1.6%, to 2,393. http://www.marketwatch.com/news/stor...=TQP_Mod_mktwN __________________

08-08-2008, 12:37 PM	#2
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	closed at $115.20 __________________

08-08-2008, 12:40 PM	#3
stereolab Confirmed User Join Date: Mar 2004 Posts: 798	oil at $115 a barrel is good news? __________________

08-08-2008, 01:14 PM	#7
kenny Confirmed User Industry Role: Join Date: Mar 2002 Posts: 7,245	We've seen significant demand destruction in the $130+ range. There can only be so much risk premium factored into a barrel of crude. I wonder how many people out there placed wild bets at $130+ at a 5% margin hoping crude broke $150? Do the math. The minimum to buy is 1000bbl at a 5% margin. 130 x 1000 = $130,000 5% is $6500 so for $6500 you can control $130,000 worth of oil at $130 per bbl. Oil goes up to $147 per bbl you make $17,000 off your $6500 investment. Oil drops to $115 you've lost $15,000 plus $6500. At these are just the minimums! There has to be a few pissed speculators out there. __________________ 7

08-08-2008, 01:47 PM	#8
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	Needs to be under $100 a barrell... so we can all go back to wasting gas like a motherfucker again and putting the pedal to the metal! __________________ i like waffles

08-08-2008, 12:58 PM	#6
Ross Ik ben een aap Industry Role: Join Date: Sep 2002 Location: Traffic Force Towers, Canada! Posts: 18,874	I'd say $115 a barrel is good news. Hopefully it keeps dropping. I think the gas stations need to pass the savings onto their consumers faster tho. Right now I'd be happy if it just dropped down to under $100 again.

08-08-2008, 02:13 PM	#9
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	Amazing how all the fools fools claiming it will reach 200 by the end of the year suddenly disappeared ... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

08-08-2008, 04:45 PM	#11
Rodent Confirmed User Join Date: Mar 2001 Location: ReliableServers.Com Posts: 1,462	80$ a barrel please __________________ Choopa.com Colocation \| Cloud Servers \| Dedicated Servers \| CDN 1000 Gbps Network \| NJ DataCenters

08-08-2008, 04:59 PM	#12
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 77,235	if people stopped using it 1 day just one the price would drop fast __________________ TRUMP 2025 KEKAW!!! - The Laken Riley Act Is Law! DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

08-08-2008, 06:25 PM	#14
bronco67 Too lazy to set a custom title Join Date: Dec 2006 Posts: 29,032	gas prices are coming down, but its only so we'll be happy with our new standard, which will be $4.00/gallon gas. It makes sense. Raise it to ridiculous levels and make everyone squirm, then bring it back down to make us happy to see lower prices, which are still way above what they were a few months ago.

08-08-2008, 07:13 PM	#16
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,940	We are still getting raped at the pump __________________ *YOUR INFORMATION HERE*

08-09-2008, 12:09 AM	#18
TidalWave Confirmed User Industry Role: Join Date: Sep 2007 Location: Los Angeles Posts: 2,706	you guys are acting like it can't go back up again __________________ www.SwiftNode.com

08-09-2008, 12:19 AM	#19
D Ghost null Industry Role: Join Date: May 2006 Posts: 9,820	fucking great

09-22-2008, 02:16 PM	#21
Bojangles Confirmed User Join Date: Apr 2007 Posts: 5,419	Awesome. It's going to raise again, though.