That said, the futures players have not been the best longer (or even medium) term indicators of the direction of oil prices over the last 5 (or 10) years.
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Tuesday, July 29, 2008
Speccies call crude DOWN
Futures gone net short overnight for the first time since around the start of last year. Commodities trading mate of mine told me a couple of weeks ago that he wouldn't short at $130/bbl, but would at $120/bbl... which isn't too far off at the moment (Nigeria, Iran etc willing.)
That said, the futures players have not been the best longer (or even medium) term indicators of the direction of oil prices over the last 5 (or 10) years.
.
..
...
That said, the futures players have not been the best longer (or even medium) term indicators of the direction of oil prices over the last 5 (or 10) years.
.
..
...
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