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#2402493 - 05/26/11 05:18 AM Re: Well Don't this just beat everything........Oil [Re: Allen Sullivan]
Snake
16 Point


Registered: 05/03/09
Posts: 15478
Loc: McMinn Co.Tennessee U.S.

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 Originally Posted By: Allen Sullivan
You can bet it is going to go back up since oil is rising.

Allen


You got it !
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#2402558 - 05/26/11 07:25 AM Re: Well Don't this just beat everything........Oil [Re: TC4ever]
fishboy1
14 Point


Registered: 01/13/03
Posts: 9692
Loc: Warren Co

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 Originally Posted By: TC4ever
Stocks in the DOW\NASDAQ have turned higher today{the first time in several days} and you ask why? Simple-the price of a barrel of oil is back over $100!!!

"Stocks reversed earlier losses as rising oil prices offset worries about the global economic recovery."


So we have declining demand since domestic supplies of both oil and gas have risen over the past week and that makes the price of oil go UP?? If this doesn't confirm that supply & demand have absolutely 0\nothing\nada\zip\zilch to do with the price we pay then nothing will.

http://finance.yahoo.com/news/Stocks-tur...n&asset=&ccode=


There are many factors that go into the price of a barrel of oil.
The main ones are.
1. Supply/demand
2. VALUE OF THE DOLLAR
3. Inflation
4. Speculation on where the price/supply of oil will be in the future.

I quit following the daily moves, BUT you stated yourself that the supply is up, demand is down.... so what is left that could cause the price of oil to increase?

Hint.... Quantitative easing (The Fed printing piles of money).

Your dollar is worth less so it takes more of them to buy a barrel of oil.

Scour the news to see if Geitner or Breneanke made a move with our money this week.
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#2402580 - 05/26/11 07:49 AM Re: Well Don't this just beat everything........Oil [Re: fishboy1]
TC4ever
16 Point


Registered: 10/19/07
Posts: 14514
Loc: Va

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No doubt #2 is the primary driver of the price Fishboy. S&D have very little to do with it at this point.
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