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Oil price drops fast as Goldman charges hit confidence
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=7821		 Page 1 of 1
Author:  Amnesia10 [ Mon Apr 19, 2010 4:12 pm ]
Post subject:  Oil price drops fast as Goldman charges hit confidence
http://news.bbc.co.uk/1/hi/business/8629467.stm

Quote:
"Markets got ahead of themselves with oil prices above $85, which was fundamentally not justified, so there are plenty of reasons to be rather cautious down the road," said Carsten Fritsch at Commerzbank.

And how much of that is down to GS betting against the oil price? ;)
Author:  ProfessorF [ Mon Apr 19, 2010 5:16 pm ]
Post subject:  Re: Oil price drops fast as Goldman charges hit confidence
Of course, the price of petrol will follow in short order. Won't it?
Author:  Fogmeister [ Mon Apr 19, 2010 5:33 pm ]
Post subject:  Re: Oil price drops fast as Goldman charges hit confidence
ProfessorF wrote:
Of course, the price of petrol will follow in short order. Won't it?

Yep, I hear that flying pigs start to migrate to the UK in the spring also.
Author:  Amnesia10 [ Mon Apr 19, 2010 5:35 pm ]
Post subject:  Re: Oil price drops fast as Goldman charges hit confidence
Hopefully but it depends on whether the refineries are passing on extra costs. These can lag by some way. So costs will come down for a while. GS were speculating heavily on oil during the GFC and and telling us all that it will get to $250 a barrel. The problem is that the banks have been speculating in oil like never before.
Author:  rustybucket [ Mon Apr 19, 2010 6:44 pm ]
Post subject:  Re: Oil price drops fast as Goldman charges hit confidence
Fogmeister wrote:
ProfessorF wrote:
Of course, the price of petrol will follow in short order. Won't it?

Yep, I hear that flying pigs start to migrate to the UK in the spring also.

Not with the ban on flights they don't
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