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Crude Oil $200 a Barrel, What happened?

Commodities / Crude Oil Sep 12, 2008 - 06:22 AM GMT

By: INO

Commodities Best Financial Markets Analysis ArticleIt's true, the rumors were circulating heavily when crude oil was trading at $145 a barrel that it was going to be hitting $200 a barrel in a matter of days or weeks at the very latest. Well, that never happened. Crude oil learned that gravity plays a part in every commodity market's life.


The pullback in crude oil, given the fact that a major hurricane named Ike is shooting for the gulf, is not so surprising given the history of the commodity markets. Often times we see pressure coming into a market months ahead of the actual news that either production has been increased or demand fluctuation has changed the dynamics of the marketplace.

Take a few minutes and watch this video and see how we have been looking at crude oil. Afterwards, check out our track record in this market for the past 12 months.

I hope you find time to quickly browse through this video as it will certainly give you some good trading tips on how to improve your own trading.

Every success in the markets and in life,

Adam Hewison
President, INO.com
Co-Creator of MarketClub

By INO.com

INO and Quote Providers furnish quotes and market analysis without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim, demand or cause for action. The information and data was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options..

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© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Iconoclast421
12 Sep 08, 06:51
demand destruction
Congratulations! You have discovered demand destruction. Take a look at the 20 year graph of US VMT. http://climateprogress.org/wp-content/uploads/2008/06/vmt-april-08.gif Notice how that chart has been breaking down for very nearly 3 years now. That's about the same time that the housing bubble started breaking down. This is not something new. This is a collapse that has been building for 3 years. It is now moving with the momentum of a freight train.


gchraj@yahoo.com
05 Mar 09, 17:08
George

May be it was a typo on the Goldman Sachs document. They probably meant $20 a barrell of oil by mid 2009, not $200!


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