Quote:
Originally Posted by sammyg2
I have absolutely no insider knowledge, absolutely nothing to back it up, except a hunch.
I've been watching these commodity markets very closely for decades.
Oil has been held down over the past few years due to the global economy, and yet it's been trying to climb and recover in spite of that.
It went from 70 to over 100 for no particular reason over the past few months, except that the investors and speculators wanted it to. The supply is fine, it isn't tied to the Iran thing, the price just rose because the market feels it is undervalued.
Plus a dollar is worth much less than it used to be, I just feel that oil is like a race horse tugging at the reins and wants to run. As as soon as economies start to recover, I figure oil is gonna take off and knock us all back down, possibly into another recession.
Take it with a grain of salt and wait.
By summer you can say I was right or that I'm FOS, either way doesn't matter.
|
You're right there Sammy, there has been NO reason for the global market to go from $70 to $100 in just 3 months. Speculators is all there is, no reason. Bad dollar, big demand, soon, $4-5/gallon. We will all be in a pinch.