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Author Topic: Oil Prices May Be Topping Out Back to Topics
beta11
Rookie Author
Illinois

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Message Posted: Feb 20, 2013 6:44:55 PM

At $117 per barrel, Brent Crude is approaching levels that have historically coincided with reduced economic activity. If prices rise much further (call it above $120), higher gasoline and diesel prices could take their toll on consumers. Thus a pullback in Brent prices appears to be a distinct possibility.

Given that Nymex oil trades at a historically wide discount of nearly $20, it could theoretically fare better than Brent if the spread between the two grades narrows. Yet we expect the spread to stay wide until proved otherwise.

This has been our working assumption for several months now and so far, so good. Perhaps the spread will narrow in the third or fourth quarter of 2013 when Seaway pipeline capacity rises to a nominal 850,000 barrels per day from 400,000.
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REPLIES (newest first) Post a Reply
hokieburgh
Champion Author Virginia

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Message Posted: Feb 21, 2013 8:26:15 AM

hope something tops out.....
alterman156
Champion Author New York

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Message Posted: Feb 21, 2013 1:47:28 AM

Gasoline should top out.
JohnofGB
Champion Author Flint

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Message Posted: Feb 21, 2013 1:33:54 AM

It is not the price of crude, its the price of gasoline. They have disconnected. Gas has kept going up.
dandvicb
Champion Author Bridgeport

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Message Posted: Feb 20, 2013 11:58:00 PM

Absolutely ridiculous SPECULATION!!!!!
heydano67
Champion Author California

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Message Posted: Feb 20, 2013 9:26:00 PM

would like a good drop
csblesson
Champion Author Texas

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Message Posted: Feb 20, 2013 9:18:22 PM

Hope that it will come down soon
dbellie
Champion Author Twin Cities

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Message Posted: Feb 20, 2013 9:15:31 PM

till they want more $
Mystikal1
Veteran Author Akron

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Message Posted: Feb 20, 2013 9:12:11 PM

A promise or another dream which seems farther from reality each day as gas prices continue to skyrocket upwards?
esq262
Champion Author Asheville

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Message Posted: Feb 20, 2013 9:05:02 PM

I hope the insanity stops soon.
Tekkersmom57
Champion Author Syracuse

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Message Posted: Feb 20, 2013 8:45:02 PM

Way to call it, Night Owl!!! Gas prices are jumping WAY too quickly and need to be stopped!
GarRafFra
Sophomore Author Worcester

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Message Posted: Feb 20, 2013 8:44:34 PM

Pretty soon it will be $250 a barrel.

TomT2Lee
Champion Author Cincinnati

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Message Posted: Feb 20, 2013 8:31:18 PM

and Obama and all the rest of the professional political leaches may be confessing to their crimes and going to jail.
bwp9970
Veteran Author Alabama

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Message Posted: Feb 20, 2013 8:27:59 PM

Sure
BBopp
Champion Author Dayton

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Message Posted: Feb 20, 2013 8:19:20 PM

Key words: May Be. I'd like to be able to read the entire article without subscribing.
BluWahoo
Champion Author Pensacola

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Message Posted: Feb 20, 2013 7:57:56 PM

May be ... yeah right ... do it and stop talking about it and making excuses why fuel is so expensive.
MidNJ
Champion Author New Jersey

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Message Posted: Feb 20, 2013 7:43:55 PM

"May be" or should be, or will be. All have different meanings.
Night Owl
Champion Author Toronto

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Message Posted: Feb 20, 2013 7:42:09 PM

Oil prices are ridiculously high. The CFTC should be doing its job by stopping greedy Wall Street oil speculators.
lonewolf_947
Champion Author New Hampshire

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Message Posted: Feb 20, 2013 7:39:24 PM

Here we go again.........its like a yoyo, up one day, down the next........ this will go on & on until something is done about it.........

PathfinderSC
Champion Author South Carolina

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Message Posted: Feb 20, 2013 7:18:43 PM

Would be good if true, Will wait and see.
dh0770
Champion Author Colorado

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Message Posted: Feb 20, 2013 7:10:15 PM

Not while the speculators are running things...
mastermariner
Champion Author Texas

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Message Posted: Feb 20, 2013 7:09:58 PM

Minor correction
humblepie
Champion Author Toledo

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Message Posted: Feb 20, 2013 7:08:59 PM

what total bovine excrement
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