What the h**l is going on oil ? 140$ to 150$ a barrel in just 1 day wt****...!?

Question

What the h**l is going on oil ? 140$ to 150$ a barrel in just 1 day wt****...!?

Answer 1

People are speculating on oil based futures to hedge themselves against inflation. Largely due to depreciation of the US Dollar. Because oil is priced in US Dollar.

The OPEC countries took advantage of the situation to maximise margin. Who will not want to have the profit margin maximised? In business, it's always either margin or volume.

Only 2 possible outcomes will happen. Price of oil starts coming down if USD manages to appreciate, OR price of oil starts coming down when a global recession happens.

Which ever comes 1st, the price of oil must come down. Only factor is How & When?

Answer 2

A combination of a dollar loosing value fast and the greed to make money off this .

Answer 3

it's because there's 2 million people buying oil just to hoard it to themself. they are wanting to sell it when it gets to that $200 a barrel mark and walk away with trillions in profit. in the meantime, that shrinks the supply thus jacking up the price

king what's his name in saudi arabia is right about that being the cause of high gas prices right now

Answer 4

Greed always hungers.

Answer 5

Call Congress and tell them to start drilling off the coast of Florida and California. We need DOMESTIC OIL...