Crude below $US50 could bring price collapse


	Crude below $US50 could bring price collapse

greg naylor

1-19-2007 4:24 AM

485 views

tags:

oil, petrol

1 Comment |

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1-19-2007 1:09 PM

eemorningwood

It was about time for a price collapse, It was getting to close in cost to alternative energy sources. You never want to kill the Magic Oil Cow.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b8fc98df-9139-43c9-9e02-b9dd3a60a11c/B3E4DFF9-7F4D-4BDC-9A24-0CED20D8C884/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html" href="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html" style="font-size: 11px;">www.smh.com.au</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html"><P>NEW YORK: If crude oil prices extend their sharp slide below the $US50 a barrel mark it could trigger an even deeper wave of investor selling, energy analysts said on Wednesday.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html"><P>Technical analysts said that oil prices risked a steep slide if they break below $US50 a barrel.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html"><P>But analysts have also been pointing to hedging by oil producers who wish to lock in revenue because they think oil's five-year rally may have run out of steam.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html"><P>The drop in oil prices has been caused in part by an abnormally warm winter that has cut into demand for heating fuels and has rung alarm bells for OPEC members struggling to buoy prices with production cuts.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smh.com.au/news/business/crude-below-us50-could-bring-price-collapse/2007/01/18/1169095905535.html"></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B3E4DFF9-7F4D-4BDC-9A24-0CED20D8C884/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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