Crude Price One Week from Today

[sujithsstorock]

Just for laughs I've drawn how I expect the Crude Oil market to roughly play out over the next five days.

Bear in mind I'm not placing any trades based on this, it just seems like the most likely course based on my view of the market.

good chart . similar to my strategy for the week

 

[tantra]

i reckon crude will get to just above $100 before it reverses to $150 by august/september. Remember, it takes only a nigarian worker strike, a hurricane or issues on iran to make this discussion futile!

 

[trader_dante]

i reckon crude will get to just above $100 before it reverses to $150 by august/september. Remember, it takes only a nigarian worker strike, a hurricane or issues on iran to make this discussion futile!

So everyone says but not necessarily.

Hurricane Katrina was the costliest and one of the five deadliest hurricanes in the history of the United States.

The storm interrupted oil production, importation, and refining in the Gulf area. Before the storm, one-tenth of all the crude oil consumed in the United States and almost half of the gasoline produced in the country came from refineries in the states along the Gulf's shores. Furthermore, the nation's Strategic Petroleum Reserve is also stored in this region.

At least twenty offshore oil platforms were missing, sunk, or had gone adrift, according to the United States Coast Guard.

By 12:00 p.m. CDT on August 31, eight Gulf of Mexico refineries remained shut down and one was operating at reduced capacity.

Long lines developed at some gas stations throughout the U.S. as customers rushed to buy gasoline, anticipating price increases in the wake of the storm.

The crude oil market, however, topped out the day before on August 30th, 2005. It would not make a new high for another 8 months.

Trade the price and not the news.

 

[Linmuppet]

Lower for sure, 123 maybe, then buckle up for the ride into the 160's

 

[keiths]

$124.

 

[anel2ka]

$115 is a key level. Below that and I think we're headed towards $100.

 

[Rossini]

$122 If it goes down from that then 100. It will not reach 150 ;-)

 

[si1503]

Crude doesn't half trend beautifully.

 

[MrGecko]

Damn do I love markets. One day people on CNBC say crude to $200. The next Donald is on saying $50 and everyone agrees with him.

So I would like to play a little game and get everyones prediction of the crude price one week from today July 25th. Just a simple number.

And for next week, $132.50