Fuel/Oil market prices

[Intrepidation]

We are so boned.

[Drew Dowdell]

Oil continues to tumble, down $3.24 at the start to $92.47.

Could we see a $10 drop in less than a week?

[FUTURE_OF_GM]

A.I.G. really shocked me today...

How 'bout BAC? Snatching up Merrill Lynch like that?

BAC really worries me because they're HQ-ed here in town and were likely to be employing me in about a year. Maybe I'll think twice about that.

[Teh Ricer Civic!]

It seems as futures people are putting commodities away in favor of keeping the dollar strong.

Sounds good in the long term to me.

[daves87rs]

It seems as futures people are putting commodities away in favor of keeping the dollar strong.

Sounds good in the long term to me.

Maybe....

[Teh Ricer Civic!]

Maybe....

Well a stronger dollar will help through rough economic times. It makes all that Chineese made junk at Wal*Mart more affordable.

on the other hand its bad for our exports.

[mustang84]

A.I.G. really shocked me today...

How 'bout BAC? Snatching up Merrill Lynch like that?

BAC really worries me because they're HQ-ed here in town and were likely to be employing me in about a year. Maybe I'll think twice about that.

Long term I think the Merrill Lynch acquisition will be a good thing for BofA (allowing them growth in new markets), but short term it will be a nightmare for their shareholders. They're inheriting a lot of debt and a lot of mess...kinda like if GM bought Chrysler tomorrow. The stock went down $6 bucks the day they announced they were buying ML. But if they can survive the current economy, when things start to pick up again they will be even more dominant in the banking industry than they already are.

[Drew Dowdell]

Oil closing in on 2005 lows.

Brent Crude $50.39

RBOB Gasoline $1.107

[scharmer05]

1.78 a gallon here. We are trying to use up the diesel and gas in our farm tanks right now that we paid A LOT more for so that we can fill up at these prices. We are putting in a couple 10000 gallon diesel tanks too.

[trinacriabob]

Mind blowing. Saw several stations on the way to work at $1.99 for basic unleaded...on the West Coast, no less. Never thought I'd see this. Is this supposed to be a "difibrillator" for a stuck economy and a way to move Escalades? I don't know. I don't know where ANYTHING is going.

I do know that I make take advantage of these prices and do some road-tripping....and, when I'm up north for Thanksgiving, Vancouver BC is looking more probable, so I will be packing my passport...

Edited November 20, 2008 by trinacriabob

[Cory Wolfe]

Gas finally hit sub-$2 prices in Brookville. Currently at $1.96 and hopefully it will be lower yet when I have to fill up in a day or two.

[Drew Dowdell]

Oil drops below $50

Again, I know most people here are cheering for their gearing..... but sudden moves like this are rarely good things.

But yesterday's market can speak for me.....

This is the lowest point since April 14, 1997.

Some interesting numbers:

• The 7500 area is the March 2003 low;

• The 2002 closing low is 7286 (intraday is 7197):

• 1997 Asian contagion bottom was 7161; intraday was 6971;

[daves87rs]

It's going to be interesting, that is for sure.

I'm just glad I can afford gas at this point....

It get a feeling that will change soon though....

[Intrepidation]

Better enjoy it while we can. I'm thrilled that I can spend $20 and fill up the Prizm or Shadow with same change back. Really nice to have in these tight financial times.

[balthazar]

87 @ 1.71 yesterday.

[Lamar]

Better enjoy it while we can. I'm thrilled that I can spend $20 and fill up the Prizm or Shadow with same change back. Really nice to have in these tight financial times.

It cost me less than $30 to fill up the Cruise Missile on Tuesday. I hadn't experienced that since before Katrina hit in '05.