Where do you think Crude Oil prices are going?

[TymeSlayer]

Paid $2.19 for premium 91 octane gas here in Colorado. Regular can be had for $1.79.
Never thought we'd see pricing this low. Perhaps all the Solar and other alternative energy sources have something to do with it. With pricing so low now, these Solar companies are in the tank. ;D

 

[Jabooh]

Depression Stage 17 is kicking in.

 

[Grant 302]

Depression Stage 17 is kicking in.

I'm just in denial. Collar and Strangle hedges are helping keep me there.

 

[Grant 302]

Some hope in the CFTC Futures data. Looks like the big money shorts have peaked again and exceed the positions prior to the Mar/April and late August bounces. Of course, that doesn't guarantee a bounce here, but I don't think the push downward can last much longer. Rollover from the Jan to Feb contract may help a little too, even if the 'gain' is just psychological.

We've seen how quickly oil moves UP when the shorts decide it's time to cover.

 

[Jabooh]

WTI is now low enough that ocean storage doesn't really make sense since the price of ships has gone up. The Case For $20 seems more realistic with every day.

 

[302 Hi Pro]

I wonder if Saudi can continue to drive lower pricing to eventually make a takeover move on a few select western oil companies to gain a foothold in the oil retail business.

Can you imagine where that might lead to in the production, refining and distribution of gas and oil products?

I suspect bigger things are at play here. But we'll see as time passes.

302 Hi Pro

 

[Jabooh]

I don't know that Saudi's have enough capital to take over enough E&P companies to make a difference. Plus it would have to be hostal via a shell corporation as the US courts wouldn't allow it.

I read something last week that indicate OPEC would hold emergency meetings if it doesn't recovery by Feb. 2016.