Wednesday, November 07, 2007

Crude Oil Futures Trading Predicts Falling Oil Prices

According to futures trading for crude oil on the NYMEX, we can expect falling oil prices over the next three years, to $82 per barrel by late 2009 (see chart above).

8 Comments:

At 11/08/2007 5:42 AM, Blogger PresterJohn said...

This has to be some kind of New Yorker cartoon.

Nov. 7 (Bloomberg) -- Chinese and Indian crude oil imports will almost quadruple by 2030, creating a supply ``crunch'' as soon as 2015, the International Energy Agency said.

 
At 11/08/2007 8:05 AM, Blogger Mark J. Perry said...

Go long on crude oil futures contracts.

 
At 11/08/2007 12:01 PM, Anonymous Anonymous said...

His convictions aren't *that* strong.

Oil is the second most abundant liquid on earth, and $100/bbl oil--or even $50/bbl oil--is a farce. The equilibrium price is regularly manipulated by the futures market traders, and exacerbated by political hacks who refuse to allow new refineries to be built or wells to be drilled. The oil is there, but an artificial scarcity is created by not extracting it.

skh.pcola

 
At 11/08/2007 1:27 PM, Anonymous Anonymous said...

For some comparisons, can you find a future's chart from one year ago? How about 3 years?

It would be interesting to see how this segment of the economy was performing compared to the expected future values...

 
At 11/08/2007 2:07 PM, Anonymous Anonymous said...

Here is one chart from 2005 predicting oil prices for 2007 in the high fifties.

Factoring in speculation and the fall of the dollar gets you into the range of the above referenced chart.

Goldman (Sachs)sees oil price 'super spike' to $105 a barrel is an interesting article from March 2005 regarding oil spikes over the following few years.

 
At 11/27/2007 3:19 AM, Anonymous Anonymous said...

Tuesday, October 30, 2007
$60 Oil?

Get ready, it's coming soon. Read about it here at Forbes.

Your words, less than a week before this post. Forgive me if I'm dubious.

 
At 1/06/2008 7:11 PM, Anonymous Anonymous said...

Check this one for Crude Oil Forecasts:
http://crudeoiltrading.blogspot.com

 
At 4/08/2008 10:56 PM, Blogger Gary_7vn said...

This comment has been removed by the author.

 

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