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/biz/ - Business & Finance

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961480 No.961480 [Reply] [Original]

Spot WTI crude oil will fall to $37.00/bbl this week.

Heard that Exco (XCO) has laid off a bunch of VPs and petroleum engineers. Living on credit can result in troublesome things.

>> No.961582

I missed you oilbrah.

> this week
> on a Sunday, when there's just hours left in "this week"

>> No.961681

If the paris event leads to escalation in the middle east couldn't that potentially push the price up again? If only for a while?

>> No.961692

>>961681
Partially, but we're coming out of the summer, when vehicle use is highest, and moving into winter, when prices naturally dip. Combining that with the already incredibly weak prices and market oversupply, the OP's scenario is certainly possible.

>> No.961715

20 bucks a barrel by xmas

>> No.961730

>>961582
Sunday is the beginning of a week you knucklehead.

>> No.961731
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961731

>>961582
You are being anal. Like an electricity trader.

>>961681
People will quit traveling to Paris and other destinations. Jet fuel will collapse. Jet fuel buyers for the major airlines will pat themselves on the back so hard their company logo buttplugs will fall out.

>>961715
I agree with you based anon. The only thing holding oil prices up are Chinese buyers of Dubai sourced crude oils. They are trying to support their prior "averaged in" prices but their economy is allegedly slanting to the down side.