Oil at $60 by March?

[Lonny]

If there are supply issues, I agree that story is not being told yet, bits and pieces here and there... What do you think?

[Kat123]

Todays's price...not far off the 60..

Crude Oil
$63.84
▲2.80 4.59%
3:27 AM EST - 2008.11.10

[john.cleancoaltechnology]

Crude oil futures love to make double tops. Sometimes price action may go past the previous high but will usually reverse after that. Once a top forms, price will sometimes swing in a wide range. This is a great spot for writing crude options at the range edges. The premiums are often inflated and then premium erosion sets in quickly at each disappointment.

[Eddisionklein]

The costs of crude oil are rose.But the reason for the changes in prices are not known.

[Kat123]

well inventories are low and demand is higher than ever hence rise in crude oil prices

[IGAL]

I'd say that now the question is what's going to happen from here..

A barrel dropped by 70% since July!

What do you guys think we are about to see in the first quarter of 09'?

[FxExpert]

Due to a drop in demand the supply has now risen, despite OPEC's attempt to cut production. With a drop in demand & resulting increase in supply, the price per barrel will continue to fall.

[dancarfx]

Actually it was a decision taken some days ago by OPEC, to cut oil’s production. Then, we could see a rise on the price per barrel soon, at least not lower prices. I guess this a natural market reaction because of the modified comportments of people about cars, less production then less machines working. How do you think I should interpret these conditions in Forex market? Dan

[scope25]

you may relate this kind of issues to currencies and their countries. then, oil would lose power on the market and economies depending of this commodity could become weaken. Scope

[Reealjrd]

Oil prices have risen nearly 9% after the US government reported an unexpected drop in crude stocks and an increase in demand for petrol. US light crude rose by $3.73 to $45.38. Very much close to touch $60 at the end of march.