Looking at the numbers, the averages here in the Speedway states are low compared to the Chicago spot’s break even price. This is due in part to the biggest climb in one day for wholesale in quite some time, 13 cents on the NYMEX, and 16 cents in the Chicago spot. Friday they went up [...]
Archive for the Tag 'market'
It looks like speculators are getting the boot when it comes to gas and oil. As of this morning they continue to fall as more bearish fundamentals are being used to control the market. What this means for you is even lower prices in gasoline. Currently the average price of gas is beginning to catch [...]
It looks to me like powerful people are starting to pay serious attention to how much of the ups-and-downs in energy prices has been driven by a “casino-minded” attitude towards the future markets. Last week, PVM Oil Associates employee Steve Perkins lost $10 millon in a day playing the “electronic oil casino”. This week, the [...]
A couple of articles have come to my attention recently related to gas pricing. #1: Some Lansing gas stations pay fines for gas gouging last September. #2: Jim Hightower comments on the “Magic of the Marketplace” that led to the run up in energy prices the past few years. #3: A recently-published story in Rolling [...]
Comment on my June 11 posting: Prices made it to $2.69 last week, and then lower this week, so my prediction was CORRECT. Tuesday, June 23, 2009, 4:30PM: The stock market/energy market correlation continues. Stocks topped out recently on June 12, a day after the price of a barrel of oil did, while NYMEX waited [...]