President Obama 1st 100 days: What will be the price of Crude Oil on March 31, 2009.
Background: Crude Could Hit $40 a Barrel By April, Deutsche Bank Says
NEW YORK - Crude-oil prices could fall to $40 per barrel by April as demand falls and production becomes more cost-effective, Deutsche Bank said in a report released Wednesday. Prices will fall on "a huge overhang of new, more efficient refining capacity addition into an already-oversupplied market," the investment bank said. The Organization of the Petroleum Exporting Countries potentially needs to cut production by 2.5 million barrels a day to reduce supplies, the bank said, but members of the cartel also have incentives not to cut output because their revenues are falling from lower oil prices.
Settlement details:As reported by a major mainstream news source.
President Obama 1st 100 days: What will be the price of Crude Oil on March 31, 2009.
Less than $40 a Barrel
$40 to less than $45 a Barrel
$45 to less than $50 a Barrel
$50 to less than $55 a Barrel
$55 to less than $60 a Barrel
$60 to less than $65 a Barrel
$65 to less than $70 a Barrel
$70 to less than $80 a Barrel
$80 to less than $90 a Barrel
$90 or more a Barrel
Forecast history %
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| Less than $40 a Barrel | |
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| $40 to less than $45 a Barrel | |
|
| $45 to less than $50 a Barrel | |
|
| $50 to less than $55 a Barrel | |
|
| $55 to less than $60 a Barrel | |
|
| $60 to less than $65 a Barrel | |
|
| $65 to less than $70 a Barrel | |
|
| $70 to less than $80 a Barrel | |
|
| $80 to less than $90 a Barrel | |
|
| $90 or more a Barrel | |
Settled as $45 to less than $50 a Barrel on Tue 31st Mar 1:05pm PST
Suspend date: Tue 24th Mar 11:59pm PST
Settlement date: Tue 31st Mar 1:05pm PST
Prediction cut-off: Predictions on this question after Tue 24th Mar 11:59pm PST have been voided because they were made after the question could be settled
Initial likelihoods:
Less than $40 a Barrel: 5%, $40 to less than $45 a Barrel: 20%, $45 to less than $50 a Barrel: 15%, $50 to less than $55 a Barrel: 15%, $55 to less than $60 a Barrel: 10%, $60 to less than $65 a Barrel: 10%, $65 to less than $70 a Barrel: 10%, $70 to less than $80 a Barrel: 5%, $80 to less than $90 a Barrel: 5%, $90 or more a Barrel: 5%
Action history:
Suspended Tue 24th Mar 11:59pm PST : Suspend date reached
Suspend date: Tue 24th Mar 11:59pm PST
Settlement date: Tue 31st Mar 1:05pm PST
Prediction cut-off: Predictions on this question after Tue 24th Mar 11:59pm PST have been voided because they were made after the question could be settled details 
Predictions (959)
34 weeks ago
conspiracy2riot
predicted
$50 to less than $55 a Barrel (H$500 at 46%)
34 weeks ago
bgrigore
predicted
Less than $40 a Barrel (H$6 at 0%)
34 weeks ago
bgrigore predicted
$40 to less than $45 a Barrel (H$20 at 0%)
34 weeks ago
gonegonegone
predicted
$55 to less than $60 a Barrel (H$200 at 24%)
34 weeks ago
gonegonegone predicted
$55 to less than $60 a Barrel (H$200 at 21%)
Comments (11)
Comments: 11
pmk2668
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On the flip side I know supplies are high and storage is full, why do you think oil companies have been paying so much for storage? Here's your SIGN!!
Oil rises $4 as OPEC mulls output cut
Bloomberg News / March 13, 2009
Email| Print| Single Page| Yahoo! Buzz| ShareThisText size - + NEW YORK - Crude oil rose more than $4 a barrel, the biggest gain in three weeks, before OPEC meets this weekend to consider a fourth production reduction.
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The global oil market is oversupplied and OPEC will cut output if needed, Shokri Ghanem, who chairs Libya's state-run National Oil Corp., said yesterday. Other ministers have called for the group to halt reductions.
Crude oil for April delivery rose $4.70 to settle at $47.03 a barrel on the New York Mercantile Exchange, the biggest gain since Feb. 19. Prices are up 5.4 percent so far this year.
Best of luck. We all win if the price drops....no doubt I am cheering as well!
You can thank Bernanke for the price increase. While there are some good things about increasing the money supply by $900,000,000,000; it doesn't help the value of the USD.
Since oil trades in USD, lowering the value of the currency translates to a price increase.
http://www.nymex.com/lsco_fut_csf.aspx
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