Banks--- Betting on the recovery Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Banks--- Betting on the recovery

WFC 86.04

0.0%

Nov 7 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: tejek	7/28/2010 12:44:29 PM
	Read Replies (1) of 1428

Double-Dip? "Resilience" of Oil Prices Saying "Something Different", Chris Edmonds Says Posted Jul 28, 2010 07:30am EDT by Peter Gorenstein in Investing Crude oil prices took a hit Tuesday after trading over $79 per barrel, the highest levels in nearly three-months. Prices fell below $76 per barrel following news the Consumer Board’s consumer confidence index fell again in July. Chris Edmonds, managing principal at FIG Partners Energy Research & Capital Group, says prices are likely range-bound for the time being. Current prices suggest healthy demand but he doesn’t expect prices to go much higher than $80 “until we get more clarity on the economy.” But he doesn't foresee oil prices falling much below $65 anytime soon and says "the resilience of oil prices told us...that the domestic and global economy is beginning to stabilize, and demand obviously is a key part of that." Crude oil futures are up about 15% in the last year and had risen sharply this month prior to Tuesday's setback. "Oil has some risk" if the macroeconomic data continue to deteriorate, Edmodns says. "But those who trade the commodity feel like they see signs of stabilizing and incrementally growing demand. Oil prices are also telling you supply remains difficult." finance.yahoo.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next