Hmmm.... No dead cat bounce today so far.

It faked up for a while and is now down another ½% to $52.25.

Where will we go from here?

One oil analyst was on Bloomberg the other day saying it could go as low as $10/bbl.

Get Ready for $10 Oil - Bloomberg View

Good article. What it doesn't mention is what will happen when Russia, Angola and Venezuela go broke and start looking for new territory or ways to make money. Selling weapons, uranium, etc...

It alludes to it, but no, it does not say what will happen.

Ya, good article right there though.:yesnod:

There it goes again.

What baffles me is why gold is down $20 today.
If the S&P goes below 2000, it's correction time.
Weird market times we're in right now.

Gold down because the value of the USD is up.

And the market is screwed up due to QE. Easy money has driven up the market and sooner or later the .gov will stop and the balloon will deflate.

Down to $51 and change today :dance:
It's a multi faceted story and not just an Iran deal thing.
Here's a good read from a few weeks ago. :Jeff '79:

Ready for $20 Oil? - Bloomberg View

And just like that...back to $4.00/gallon.

Summer blend, refinery down, butterfly farted. Whatever. :rolleyes:

http://i30.photobucket.com/albums/c3...psq9hzijap.png

Clearly, butterflies should be banned. :seasix:

Here is the gas tax by state :

Gasoline tax information - Los Angeles Gas Prices

Great webite. Here is the 10 year price breakdown. Can anyone tell me why gas prices spiked in 2008 ?

Historical Gas Price Charts - Los Angeles Gas Prices

Wasn't that the year we had a hurricane in the Gulf that prevented deliveries, and a major refinery down for maintenance?

Could be. Apparently it took 6 years to recover.

Three butterflies in Japan farted.

Hehe Viva Fuel Orale! :lol: http://i422.photobucket.com/albums/p...itt/bandit.gif

I just moved from Southern CA to Northern CA in Woodland (west & north of Sacramento), and I just filled up at a Chevron for $3.55 for regular. When I left Hemet, CA on Wednesday morning, a Chevron there was $4.39 for regular.

Only gone up ten cents here in Lake county. Right now 3.35. I wonder if whatever it is is affecting Southern Cal more or sooner.

Filled up yesterday: $ 2.48 diesel, $ 2.48 regular unleaded.

Gasoline is running in the $ 2.50's here, diesel is all over the map, from $ 2.30's to well over $ 3.00 at a few stations. I just don't understand why the spread is so high on diesel, specifically.

A barrel of crude closed under $51.00 today.

Prices at the pumps are a droppin'!

More disposable income for Americans means a trickle down to the service industries and the working man, who are most affected by higher fuel prices.

Yay!

Oh ya.
Any small business, right up to large corporations will see their bottom line increase as well. All but the oil sector, of course.
It's about time!
Also the NASDAQ closed in record territory.
It looks like we are entering a Goldilocks economy.
Next bump in the road?
The raising of interest rates.
How long will the Fed let it last?