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gas-oil divergence continues

Started by pkamm, 08/15/2009 03:22PM
Posted 08/15/2009 03:22PM Opening Post
With no other news to go on, it's all about the inventories driving prices, though its gone to lengths I would have thought impossible. A barrel of oil is on average 9-10x the price of 1000 cf of gas. 'Normal' range of variation in history is 7x to 15x, with extremes around 4x and 21x. Now we're up around the 20-21x range.

On the one hand, I never thought I'd see natural gas down in the $3's again. On the other hand, I thought I'd never see oil as high as $65-70 in the middle of a recession, as 5 years ago this would have seemed a high price in the best of times.
Posted 08/19/2009 06:33PM | Edited 08/19/2009 08:35PM #1
From what I understand this is a direct result of price manipulation by GOLDMAN SACHS and speculators around the world. I will see if I can find the link to the story I read some weeks ago.

As for unleaded gasoline futures there was a slight draw down reported in gasoline supplies today, but it has been builds due to lower demand for some weeks. Prices at the pump backed off about four cents recently, but we should see them run back up again in the days to follow of course tracking the $71.00 plus oil price. I am just sitting back and waiting for the second bubble to POP! 10 years in horse latitudes will sober up the speculators.

[COLOR="Red"][/COLOR]per me caeci vident[COLOR="Red"][/COLOR]