central - east central Minnesota - | buckeyefarmer - 1/12/2016 06:07 Probably means it is close to the bottom. Remember when it was at the top and every analyst was falling over themselves to predict the highest top ($200-$250), that was the top. There will probably be someone this week predict $15 or $12 just to be lower so just in case it happens they can say they were first. This will be nice but the major swing will have some bad unintended consequences. Maybe that is just the pessimist in me. Wish it would just hover between $45 and $55 with $2.00 to $2.50 gas. It likely will (hover between $45 - $55) with all the potential resources out there to tap into. There has simply been too many of those resources tapped into and supply flooded the market and it needs a couple years to work through. Remember, it took several years for Tar Sands and Fracking resources to actually have an impact on production and supplies. Question is, when or what is the time frame for that "hover" price ? |
Crude oil
