Created Mon 1st Sep 12:15pm PDT by 
dragonfangxl
All questions » Business » Economics » dragonfangxl 
Where will oil go next?
Settled as 105.99-
Settled as "105.99" which means any price during a trading period that is equal to or below 105.99. Price on Friday dropped to 105.60 before closing at 106.23.
http://futures.tradingcharts.com/marketquotes/index.php3?market=CL
Background:
Oil has been very flatulent lately. The Russian bombing of a oil pipeline funneling millions of drums of oil to the world had a lot of oil analysts running scared. Not to mention Russia itself is a large manufacterer of oil and the US government is not very happy with it at the moment. It seems like prices are in a good position position to go up. Yet due to the high price of oil people all over are finding new ways to curb there oil usage. From magnets that supposedly make your gas last longer, to adding stuff to the oil to make it burn cleaner and slower people are trying everything to use less gas. This in mind, big oil companies like Chevron and Exxonmobile are competing by lowering prices to get your money first. Simple economics show that less demand=lower prices. However it also shows that less supply=Higher prices. Where the price of oil will go next is anybodies guess. Prices based on the reporting on Monday
Settlement details:
As reported by a major mainstream news source. based on NYMEX price for October delivery light, sweet crude.
Settled
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125+ |
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120-124.99 |
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stay between 111-119.99 |
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106-110.99 |
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105.99- |
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Activity: H$1,789
Settled as 105.99- on Sat 6th Sep 3:06am PDT
Suspend date: Mon 29th Sep 4:59pm PDT Settlement date: Sat 6th Sep 3:06am PDT
Initial likelihoods: 125+: 15%, 120-124.99: 25%, stay between 111-119.99: 20%, 106-110.99: 25%, 105.99-: 15%
Action history:
Created Mon 1st Sep 12:16pm PDT by dragonfangxl
dragonfangxl
Suspended Sat 6th Sep 2:58am PDT by 
bayoubear![[Admin]](http://www.hubdub.com/images/icon_admin.gif "This user is an admin")
: Previous version of this question referred to the price of oil on the suspension date. This version did not mention that, so would refer to the oil price at anytime prior to that date. Taking a look to see if that has happened already.
bayoubear: Previous version of this question referred to the price of oil on the suspension date. This version did not mention that, so would refer to the oil price at anytime prior to that date. Taking a look to see if that has happened already.
Settled as '105.99-' Sat 6th Sep 3:06am PDT by bayoubear: Settled as "105.99" which means any price during a trading period that is equal to or below 105.99. Price on Friday dropped to 105.60 before closing at 106.23.
http://futures.tradingcharts.com/marketquotes/index.php3?market=CL
bayoubear: Settled as "105.99" which means any price during a trading period that is equal to or below 105.99. Price on Friday dropped to 105.60 before closing at 106.23.
http://futures.tradingcharts.com/marketquotes/index.php3?market=CL
Suspend date: Mon 29th Sep 4:59pm PDT Settlement date: Sat 6th Sep 3:06am PDT
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score: 10
Washington Post 12 weeks ago
since its July peak. The slack oil market has translated into direct relief at the pump, with regular gasoline now 19 cents a gallon cheaper than it was a month ago. Great news, right? The U.S. economy can grow faster with less risk of inflation; the
score: 10
Consumer Affairs 13 weeks ago
Fall for 37 Days ? Gas Prices Slide 8 Percent from Record ? Gas Prices Creep Down ? Oil Price Trend May Be Good News For Consumers ? Gasoline Drops Below $3.90 a Gallon ? Gas Prices Pull Back Slowly ? Oil Prices Fall As Storm Misses Rigs ?
score: 10
US News 13 weeks ago
has scared people, I think, is that prices have gone higher as we're also having layoffs and the economy is getting worse. And you've got oil analysts saying oil is going to get to $200 per barrel. So suddenly fuel economy is top of mind. There have been
score: 10
US News 13 weeks ago
There's a national sigh of relief as oil prices fall and the cost of gasoline drifts down from record highs. Since peaking on July 17 at $4.11 per gallon, gas prices have dropped about 25 cents. Some analysts think fuel prices have a lot farther
score: 10
Earthtimes.org 13 weeks ago
News Alerts by Email ( click here ) Press Release News | Home ALBUQUERQUE, NM -- 08/29/08 -- Gas prices in New Mexico dropped slightly last week and the state's average price for a gallon of gasoline is now $3.74 a gallon. Gasoline in New Mexico is seven
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dragonfangxl
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13 settled, 20 voided
:-)
Rather than reopening, I may have to void this question...too many wagerers may have also been confused about the settlement details.
All questions need to be clearly written and information about settlement conditions (including suspension dates as well as the date the settlement is based on) need to be prominently displayed either in the question itself, or at the top of the background information. Wagerers shouldn't have to search to get an understanding of the question.
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