techcherry
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any suggestion where the price is heading for the feb. contract....
by the way I am short with a $40 objective I believe it willl touch that , probaly this week !!!!
by the way I am short with a $40 objective I believe it willl touch that , probaly this week !!!!
gene
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Techcherry,
I'm by no means the master, but I enjoy trying to guess at these things. Here's my guess: Feb Crude will come down to about 41 real soon, head back up to trendline resistance, then head back down toward 40. I doubt it will hit 40 this week.
(Damn! You're UGLY!!
)
I'm by no means the master, but I enjoy trying to guess at these things. Here's my guess: Feb Crude will come down to about 41 real soon, head back up to trendline resistance, then head back down toward 40. I doubt it will hit 40 this week.
(Damn! You're UGLY!!
)
gene
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No, it sure wasn't, was it?
I wanted to sell this morning. Iraqi voting went smoothly enough, OPEC left the production ceiling unchanged, and overnight action was down...But then I read that the greedy @##*!!s still want higher prices, so I decided to just stay away from this market. I'm glad I did!
I wanted to sell this morning. Iraqi voting went smoothly enough, OPEC left the production ceiling unchanged, and overnight action was down...But then I read that the greedy @##*!!s still want higher prices, so I decided to just stay away from this market. I'm glad I did!
-oo0(GoldTrader)
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The CRACK study is similar to the CRUSH spread used for soybean. The combined value of heating oil and unleaded gasoline must exceed the crude oil price by more than the refining production costs. The most common ratio for the CRACK spread is 1-2-3. Three barrels of crude will produce two barrels of unleaded gasoline, and one barrel of heating oil. However, you are allowed to use other ratios when calculating the spread.
The CRACK spread results may be affected by the seasons. For instance, during the summer months, unleaded gasoline (HU) is in greater demand than heating oil (HO). During the winter months, the demand will shift to heating oil.
If a spread was too narrow to produce a refining profit, you could assume product prices would have to rise to catch up to crude oil prices. Therefore, you would favor heating oil and gasoline contracts over crude oil.
On the other hand, if there is a large spread between product and crude prices, you could assume refiners would push production and selling of unleaded gasoline and heating oil to take advantage of the profit. This increase in selling would tend to push product prices lower. Therefore, you would favor the crude oil over heating oil and gasoline.
The CRACK spread results may be affected by the seasons. For instance, during the summer months, unleaded gasoline (HU) is in greater demand than heating oil (HO). During the winter months, the demand will shift to heating oil.
If a spread was too narrow to produce a refining profit, you could assume product prices would have to rise to catch up to crude oil prices. Therefore, you would favor heating oil and gasoline contracts over crude oil.
On the other hand, if there is a large spread between product and crude prices, you could assume refiners would push production and selling of unleaded gasoline and heating oil to take advantage of the profit. This increase in selling would tend to push product prices lower. Therefore, you would favor the crude oil over heating oil and gasoline.
D
daps
Hi...,
I'm looking for EOD prices (last 3-4 months) for US light crude and Brent, can anyone suggest where I can get the information. Also any website that I can put both the products onto one chart.
Thanks.
I'm looking for EOD prices (last 3-4 months) for US light crude and Brent, can anyone suggest where I can get the information. Also any website that I can put both the products onto one chart.
Thanks.
-oo0(GoldTrader)
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i use
Future Source, try em, they're good...
http://www.futuresource.com/charts/charts.jsp?s=CLU05&o=&a=D&z=650x450&d=LOW&b=bar&st=
get premium free charts from Future Source by registering.
http://www.futuresource.com
Future Source, try em, they're good...
http://www.futuresource.com/charts/charts.jsp?s=CLU05&o=&a=D&z=650x450&d=LOW&b=bar&st=
get premium free charts from Future Source by registering.
http://www.futuresource.com
daps said:
daps,
You can put together a very good WTI/Brent spread chart at www.expressfutures.com. Go to the 'market data' tab on the home page then use the java charts, symbols to spread CL and SC, good indicators as well.
cheers
era
D
daps
Hi...,
Thanks for the information people. However, im unable to put both products onto one chart.? Can anyone suggest which to use. Or any website I can get a list of the closing prices for Brent and Light Crude.
Regards
Daps
Thanks for the information people. However, im unable to put both products onto one chart.? Can anyone suggest which to use. Or any website I can get a list of the closing prices for Brent and Light Crude.
Regards
Daps
Does anyone have any long term data for crude Oil and know the exact dates for Crude oils past all time highs around the 1980s .
Mainly during the Iraq / Iran war between somewhere between 1978 to
1981
Apparently the article below says Crude hit $35 a barrel in 1981..
This may have been the equivalent of around $70 a barrel today if
adjusted for inflation... I Think it may have been in Jan 1981..
I see it was also very high in 1869... 136 yrs ago
http://www.wtrg.com/prices.htm
Iraq invaded Iran in September, 1980 by November the combined
production of both countries was only a million barrels per day and
6.5 million barrels per day less than a year before. Worldwide crude
oil production was 10 percent lower than in 1979.
The combination of the Iranian revolution and the Iraq/Iran War
resulted in crude oil prices more than doubling from $14 in 1978 to
$35 per barrel in 1981. Twenty-five years later Iran's production is
only two-thirds of the level reached under the government of Reza
Pahlavi the former Shah of Iran.
Mainly during the Iraq / Iran war between somewhere between 1978 to
1981
Apparently the article below says Crude hit $35 a barrel in 1981..
This may have been the equivalent of around $70 a barrel today if
adjusted for inflation... I Think it may have been in Jan 1981..
I see it was also very high in 1869... 136 yrs ago
http://www.wtrg.com/prices.htm
Iraq invaded Iran in September, 1980 by November the combined
production of both countries was only a million barrels per day and
6.5 million barrels per day less than a year before. Worldwide crude
oil production was 10 percent lower than in 1979.
The combination of the Iranian revolution and the Iraq/Iran War
resulted in crude oil prices more than doubling from $14 in 1978 to
$35 per barrel in 1981. Twenty-five years later Iran's production is
only two-thirds of the level reached under the government of Reza
Pahlavi the former Shah of Iran.
