|Quoting EK156 (Thread starter):|
It seems that the hype of the Oil Prices has calmed down and the price has been more or less stable for sometime.
What? I day-trade oil/gas as a retail investor. Other than today, Friday Oct. 7 (not sure what time zone you are in), where there was a relief rally, we had 6 continuous biz days of energy downturns ... that was a 10-15% drop, primarily based on a anticipated 3% downturn in US gasoline demand. Guess what? the rest of the world (other than Europe) is generally growing their oil consumption faster now than the USA.
Distillates, like gasoline, aviation fuel, heating oil, etc. have been even more crazy. Alternatives like natural gas have actually risen more than oil/gas.
IMHO, unlike the '71 oil crisis, we have reached the first inflection point of a longer-term bull trend, whereby this time, demand is approaching the supply. Major worldwide resources (capital, research/development, re-development, etc.) are being deployed to increase supply (lots of resources will be available in coming yars), but it is going to take a few years.
I recommend you check out the futures at http://www.nymex.com
for freebie info. Look at the Jan./Feb. options contracts in particular ...