Oil steady near $125 on Gulf of Mexico storm

I definanetly think Israel will bomb Iran that is the only reason we havent already.After all they are the us strong arm of the mdeast.I think it is just a matter of time before it gets real crazy over there.If we didnt have so many troops in the middle of all of it prolly would of already happend.

 

SAN FRANCISCO (MarketWatch) -- For the first time in 17 months, hedge funds in July made more bets on oil prices falling than rising, according to the latest government data.
Short positions from noncommercial investors, hedge funds and other large investors that don't actually take delivery of oil, surpassed long positions in July for the first month since February 2007, data from the U.S. Commodity Futures Trading Commission showed. Short positions are bets on falling prices while long positions bet on rising prices.
"We are seeing a significant retrenchment of bullish appetite among funds," said Edward Meir, an analyst at futures brokerage MF Global. "The price bias still favors the downside."


http://www.marketwatch.com/news/story/hedge-funds-gloomy-crude-oil/story.aspx?guid={2F9D4522-43C2-4857-804C-E3DE93729E64}

 

Pricing is being driven primarily by three factors
Supply and demand is not the major factor here.. Demand honestly is not going to give the spike we have had when demand really hasn't changed in 3 years..

1. The dollar is crap. Oil is priced in dollars. Basic math there.
(dollar has increased in value as of late)
2. The commodities market becoming an investment vehicle, bringing in vast sums of money from hedge funds, index funds, etc.
(money is now is now leveling out far as investments)
3. Speculation, fueled by 20x leverage.
(And as Ronno just said these Idiots are now saying low instead of high)

This guy says it very well...

 

That's business.....