Will oil hit $80 per barrel in 2009?

Some analysts are even seeing $200 bbl by 2010 or 2011...

http://www.msnbc.msn.com/id/28527108/

those analysts must be stoned...but have u noticed that the oil prices dropped significantly just before presidential elections....and long enough for the Democrats to put the windfall tax bill on the back burner....and now surprisingly the oil prices are popping up again.
I think the house and senate needs to start talking aobut windfall taxes on the oil companies again so the prices go lower.

oil WILL go up sharply and a lot of it will be because of the Inflation heading our way..

Oil Speculators Back But So Is Demand
http://foxyurl.com/5UZ

Rob, I think you've nailed it. The dollar is much more diluted than it was last year and sooner or later the oil-rich nations will want more buying power for a barrel of the gooey stuff. Right now the dollar is strong because most of the world's currencies are suffering more, but the actual buying power is going down with every new bill in circulation (to the tune of trillions over the last 9 months).

Drop baby drop

Don't you know that dropping babies is for celebrities.

I'm pro-low oil, unfortunately our suppliers aren't.

mm hmm^^^

i wonder what the summer will entail with Iranian turmoil on top of usual gas hikes during the season.

down to 64 today....

http://www.usatoday.com/money/industries/energy/2009-07-07-oil-tuesday_N.htm

oil down again

Crude keeps bouncing up and down, but mostly in the $60s. Up again today to $68 and change despite the surprising oil stocks report from the feds on Wednesday. $80/bbl. will be a stretch this year unless some sort of event panics the market.

looks like we won't get any boost from hurricanes knocking out oit production in the Gulf of Mexico - it's been an awfully quiet season due to el Nino. With lots of clunkers being traded in and the economy still sluggish, I don't see 80 materializing this year. We've hit a good price level to make it economical to re-start production in some of the more marginal wells and the tar sands, so supply will not be as constrained and inelastic as was feared. Looks to me like we will linger around 65 to 70 for the rest of the year.

yes but the weak dollar sent oil over $70 per barrel

supposedly real inflation won't hit for another year or two....

i'm beginning to speculate if this will reach 80 or not

Things are pretty interesting. The gold-oil-dollar link appears to be controlled by some unusual market forces at the moment. Unemployment is likely to remain high (7-8% or more) for the next 1-2 years, which brings down the demand for oil. At the same time, the money supply (USD) has increased dramatically in the last year, but because the economy is so slow, the velocity is very low, so that keeps inflation in check. However, in early September the UN had an economic meeting suggesting a replacement to the US Dollar as the world reserve currency, which, along with other technical factors, has driven up the price of gold. In the meantime, the dollar has lost ground against both the Pound and the Euro in the last couple weeks.

Where this ride stops, nobody knows...

More info: 'http://online.wsj.com/article/SB125327948084522971.html'

Good source for ongoing checking of prices: 'http://www.nymex.com/lsco_fut_cso.aspx'

72.95

75.00

75.10

Thanks Coolkraft - You have made me see the reality here.
Cover and run

I cashed in tonight- after losing my a$$ on this one

I would not jump to any conclusions. There still is an oversupply of oil and refined products at the moment, this jump form $70 to 75 is all speculation on improved demand. But guess what? Some real changes did happen with the ridiculous gas and energy prices and the demand for fossil fuels is going to moderate as a result. My bet is we will come close, but fall just short of the $80 mark.

I don't know about that..food prices are going to rise at least 5 percent due to the oil price. Projected oil prices are $80.00 per gallon by the year's end. We have to get serious and off the oil wagon here in the US if we want any relief on prices of food, oil, gasoline etc.

No reality for me...c'mon low-priced oil. To the speculators i say "meh."

78.69

Might as well look at this one to see if the percentages are different: http://www.hubdub.com/m56657/_Oil_up_or_down__December_Contract_Which_comes_first___70_oil_or_80_oil

Can this settle now? The high hit 80.05.

Where was that photochico. I haven't seen Nymex front month over $80 yet. Currently $79.68 and rising. Hope this settles soon so I can run out and gas up the Hummer while I can still afford it.

u r funny Pete

gas prices up 8 cents per gallon due to oil increase

Now???? http://i36.tinypic.com/28un3u1.jpg

79.95 at 3.40NZT . You are looking at the futures contract photochico. This is for front month, the figure that appears on NYMEX.com homepage.

Tha' she blows! $80.05 16.27 NZ Time