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Old 09-30-2021, 08:58 AM   #1
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Oil Futures

Read this morning that someone is trading Brent crude for Dec. 22' at $200.00/bbl. It was 1,300 trades at that price according to Bloomberg and I don't know if that's a number that is significant within the scheme of commodities trading.

Not hard to believe with the printing of money ad nausem, revoking the sale of oil leases on federal lands, shipping and manufacturing shortages, OPEC+ policy and endless COVID and climate change news. It does make me nervous about the future.

I'm exhausted of the endless emergencies that we seem to be running up against. Anybody else feel the same way?

As Uncle Torvald once said... "The future ain't what it used to be."
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Old 09-30-2021, 09:04 AM   #2
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Well they are not building the tallest skyscrapers in Dubi with rubles or yen..
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Old 09-30-2021, 11:33 PM   #3
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Originally Posted by donr103 View Post
Well they are not building the tallest skyscrapers in Dubi with rubles or yen..
Your right, it's dollars and yuan. The last time oil had its big run up commodities rose as well. At the grocery tonight and paid nine dollars for a pound and a half for bacon, on sale. Oil is trading at near the same price as it did in 2012 when soybeans and corn reached a high. Stocks seem to be inflated, oil is high and I'm thinking commodity prices are now going to follow suit.

Our propane delivery man at work said today that he's expecting his home natural gas bill to double over the winter.
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Old 10-01-2021, 07:22 AM   #4
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Back in ~2007 I worked for a company owned by one of the largest international trading companies who had their hands in everything. The head of US operations was in town and invited some of the senior staff to dinner. At the time things were going crazy and I asked him what was causing the spike in prices. He said he didn't have a clue. But the company was extremely profitable, still is.

Back then when the price spiked above $100/barrel I heard it was a rouge trader trying to make a name for themselves bragging he paid the high price.



In reality there are a lot of dynamics that move the markets. Take someone a heck of a lot smarter to me to know what may happen. If you don't have inside information (which most influential people do) your in a loosing game.
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