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From BP OIL

Discussion in 'Shooting Related Threads' started by funski, Jan 6, 2011.

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  1. funski

    funski Member

    Joined:
    May 22, 2007
    Messages:
    231
    Executive Summary:
    So much for rising oil prices


    1. Rack prices do parallel the NYMEX WTI crude oil closing price. NYMEX crude oil prices have increased dramatically in recent months.

    2. Crude oil, gasoline and distillate INVENTORIES remain at or well above their five year average even with the crude inventories decline reported last week.

    3. U.S. crude production is at a six year high and refinery utilization remains above its five year average.

    4. Crude oil, gasoline and distillate DEMAND remains stagnant. Only up 1% from last year.

    5. US dollar weakness is often given as an explanation for rising oil prices. However, in recent months, the dollar has strengthen against the Euro and other currencies which should result in lower oil prices… but NYMEX WTI oil is up over 18 percent over the last three months.

    6. Investor demand remains quite strong. Net long positions by investors are at highs not seen since the oil price spike in 2008.
     
  2. BILL GRILL

    BILL GRILL Well-Known Member

    Joined:
    Sep 18, 2006
    Messages:
    3,764
    interesting
     
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