Home heating oil will drop there is a 1 million barrel a day surplus so wait to fill your tanks

[control1]

(broken link removed to http://money.aol.com/article/economist-says-oil-glut-will-send-price/575130?icid=sphere_blogsmith_inpage_bloggingstocks)

 

[CrappieKeith]

However, up until now, traders in the oil futures market have looked the other way, keeping oil at the lofty price of about $60 despite the build.

Common sense says that the oil will come down ,but the reverse will happen.

 

[Romy]

yea, tell that to my oil guy; he was $1.78 a week ago and yesterday jumped to $1.92. Why? Maybe there was a hurricane forming off the coast of Africa. Oil prices are spastic and don't seem to reflect true supply and demand.

 

[slls]

Greedy traders have cut out supply and demand, make a quick buck and ruin the world economy. See what JP Morgan and Goldman Sachs investments is doing.

 

[Valhalla]

Yes, petroleum supply will only go one way, eventually down.

Commodity speculators and traders drive prices up! Suppliers reduce available short and long term availability.

All because of greed!

 

[CrappieKeith]

yea, tell that to my oil guy; he was $1.78 a week ago and yesterday jumped to $1.92. Why? Maybe there was a hurricane forming off the coast of Africa. Oil prices are spastic and don't seem to reflect true supply and demand.

Supply and demand has nothing to do with oil prices.
It's a comodity and is speculated on by big investors who drive the price up.
I'm involved with this industry and I know what is happening behind closed doors.
Buy now before it gets higher and get your wood supply together.
Sit on the oil.Burn wood!

 

[imacman]

...........Buy now before it gets higher and get your wood supply together.
Sit on the oil.Burn wood!

Well, I finally got my COD oil delivery today.....230 gal @ $2.22/gal. So I'm all set for winter......just wish I hadn't procrastinated.....should have bought the oil back when it was $1.89.....dummy! :shut:

 

[Tom Pencil]

$2.40/gal here in the Dayton, Ohio area.