What kind of hints are being given about current crude oil prices?
It took only 5 months for the price of oil to plummet from $150 to under $40 in the second part of the year. Meanwhile oil consumption did not even decrease 10%. Countries for crude oil prices are listed under OPEC and non-OPEC which are based on current affiliations. OPEC and non-OPEC averages are based on affiliations for the stated period of time which may differ from current affiliations. Estimated contract prices based on government-selling prices, netback values, or spot market quotations. All prices are f.o.b. at the foreign port of landing except where noted; 30 day payment plan except where noted. Iraq, Kirkuk 36º is the netback price at the U.S. Gulf. Total OPEC is the netback price at the U.S. Gulf. Total World, United States, OPEC, and Non-OPEC are average prices (f.o.b.) weighted by estimated export volume. Egypt, Suez Blend 33º is on 60 days credit. Effective with the week ending July 6, 2007, Llolyd Blend crude stream data are no longer available; a similar crude stream
I think that the short term low in crude oil prices is very near. Crude oil closed lower due to profit taking on Friday and the low range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral hinting that a short term low might be in or is near. Closes above last Friday’s high crossing at 72.85 are needed to confirm that a short term low has been posted. [http://crudeoiltrader.blogspot.com/2009/06/oil-hints-short-term-low-might-be-in.html] Sources: http://crudeoiltrader.blogspot.com/2009/06/oil-hints-short-term-low-might-be-in.
