Moe I saw this comment on the v good oil blog - Oil Drum. IMO that analysis is insane..$200 oil!?!?! It seems to be concentrating purely on the supply side and peak oil theory. It doesn't seem to take demand into acct....$200 oil would be untenable...for most 1st world nations and a disaster for the 3rd world
"Jeff Rubin at CIBC World Markets in Canada predicts $200/bbl coming very soon. He correctly predicted the price of oil reaching $50 in 2005 and $100 in 2007. The year 1966 was the peak for discovery of new oil fields. Production declines by 4 million bbl/day/year because of depletion. The industry must discover reserves over the next 5 years that will add 20 million bbl/day of capacity. A new oil sand project in Canada can carry a price tag of $90/bbl. Demand/depletion will push up price."
V amusing comments being posted here over the last few days!!
FX Handler what are your views on USDNOK....Im playing a convergence trade b/ween NOK and CAD against the USD. NOK is v volatile though...moves +/- 400 pips on a daily basis now...My view is med term NOK will get stronger due to Norwegian econ being in better shape than competitors
Azza IMHO this is the time to short Gold for a short term play. Last night it reached a peak of $999 oz but is pulling back since then.
Asad I'm hearing many ppl talk about natty gas...general consensus is that we could see it going below $2 per mln BTU as new liquefied supplies hit the market
Hi Ashraf - With spot gold hitting 993, and as per your twitter comment about centbanks not allowing 1000+ gold...would you say this is a good shorting opp in Gold?
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(1 year ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(1 year ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(1 year ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (1 year ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (1 year ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (1 year ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(1 year ago)
"Jeff Rubin at CIBC World Markets in Canada predicts $200/bbl coming very soon. He correctly predicted the price of oil reaching $50 in 2005 and $100 in 2007. The year 1966 was the peak for discovery of new oil fields. Production declines by 4 million bbl/day/year because of depletion. The industry must discover reserves over the next 5 years that will add 20 million bbl/day of capacity. A new oil sand project in Canada can carry a price tag of $90/bbl. Demand/depletion will push up price."
FX Handler what are your views on USDNOK....Im playing a convergence trade b/ween NOK and CAD against the USD. NOK is v volatile though...moves +/- 400 pips on a daily basis now...My view is med term NOK will get stronger due to Norwegian econ being in better shape than competitors
Asad I'm hearing many ppl talk about natty gas...general consensus is that we could see it going below $2 per mln BTU as new liquefied supplies hit the market
Thnks
Gunjack
Thx
Gunjack