Oil has made some tremendous moves over the past six months; more in percentage than any other natural resource. The world's most highly traded commodity has sailed up to almost $80 in July 2006 and then plunged to nearly $50 by January 2007, wiping-out close to 38% of it value. What is causing these large fluctuations and is oil near a bottom now? The exceptionally warm fall and winter weather across North America has been the main driver for lower prices in crude oil and natural gas...Hopefully, the Global Climate Change is coming to save my speculation ... yes, I already feel in my bones the greenhouse effect ... Soon no American or Canadian will need to buy fuel to heat homes and offices ... Oil prices will collapse... Brent futures will fall under 50 .... J will count his profits (zwanzig, zwanzig...) and be almost happy ... What else there is in the life of this 119 years old Tier Jude except ... hope?
Thursday, July 05, 2007
Praying for a Torrid Winter
Donald W Dony is a Technical Analyst and courageously publishes his predictions a year ahead in his blog. I checked out his ideas on oil price fluctuations and he was found true. He wrote in January 2007: