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Crude Oil Not Likely to Explode Higher

SeekingAlpha.com -- By Wayne A. Corbitt

There is an intense debate raging surrounding the future direction of crude oil prices. The bulls say the upcoming driving season will spur demand once again to give crude a push higher. They also argue that demand from China and other countries with healthier economies than our own will continue to soak up supply.

The bears argue that China is in the process of draining excess liquidity to dampen speculation and apply the brakes on an overheating economy. The bears also contend that with our "mirage" economy is so weak (just watch the employment numbers) that demand in this country will tail off.

In cases such as these, the proper thing to do is to not get caught up in these fundamental debates but to look at what the market tells us.

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Submitted Mar 13, 2010 By: UncleCurt

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ronsimonil All-Star Author Illinois Posts:718 Points:152,595 Joined:Mar 2009	Message Posted: Mar 14, 2010 10:43:48 AM Ignore ronsimonil Report Abuse Good ...then let's get the gas prices down.
CiVX Champion Author Oakland Posts:3,140 Points:534,535 Joined:Feb 2009	Message Posted: Mar 13, 2010 11:31:37 PM Ignore CiVX Report Abuse Weather or not crude goes up they will still ream us on gas; I say $3.50 or more by summer.
Night Owl Champion Author Toronto Posts:2,745 Points:837,990 Joined:Jul 2004	Message Posted: Mar 13, 2010 10:43:19 PM Ignore Night Owl Report Abuse Crude oil is really overpriced right now.
gasman50 Champion Author Portland Posts:3,934 Points:1,438,800 Joined:Nov 2005	Message Posted: Mar 13, 2010 10:00:57 PM Ignore gasman50 Report Abuse up, down.....up down....who really knows where it will be next month?
Pete12 Champion Author Albany Posts:1,930 Points:797,015 Joined:Nov 2005	Message Posted: Mar 13, 2010 8:39:15 PM Ignore Pete12 Report Abuse Based on supply and demand it has to go down.
plebe2001de Champion Author Delaware Posts:1,082 Points:222,590 Joined:Nov 2009	Message Posted: Mar 13, 2010 8:18:06 PM Ignore plebe2001de Report Abuse I hope the article is correct and prices do not continue to climb up.
DickAAA Champion Author St. Louis Posts:1,350 Points:800,255 Joined:Jan 2005	Message Posted: Mar 13, 2010 8:06:31 PM Ignore DickAAA Report Abuse The speculators are in for a big surprise when the bottom falls out of the petroleum market.
FuelOilOH Champion Author Cleveland Posts:1,120 Points:575,570 Joined:Oct 2007	Message Posted: Mar 13, 2010 8:05:38 PM Ignore FuelOilOH Report Abuse Everybody has an opinion. Just consider the source.
arinkrat17 Champion Author Twin Cities Posts:1,502 Points:366,515 Joined:Aug 2009	Message Posted: Mar 13, 2010 8:05:24 PM Ignore arinkrat17 Report Abuse need it to drop
TXGasPriceSpy Champion Author Fort Worth Posts:2,696 Points:506,470 Joined:Sep 2008	Message Posted: Mar 13, 2010 8:05:19 PM Ignore TXGasPriceSpy Report Abuse Just more speculation.
ARROWHEAD Sophomore Author Detroit Posts:113 Points:838,670 Joined:Mar 2004	Message Posted: Mar 13, 2010 8:02:54 PM Ignore ARROWHEAD Report Abuse Up up and away!
ThatHunt Champion Author Dallas Posts:2,620 Points:1,228,655 Joined:Jul 2006	Message Posted: Mar 13, 2010 7:59:21 PM Ignore ThatHunt Report Abuse I am not buying the prediction.
VTROCK Champion Author Detroit Posts:1,992 Points:427,755 Joined:Sep 2008	Message Posted: Mar 13, 2010 7:55:15 PM Ignore VTROCK Report Abuse The price may creep up a bit, but the economy is not robust enough to support an explosion.
snofog All-Star Author Seattle Posts:623 Points:92,655 Joined:Jan 2010	Message Posted: Mar 13, 2010 7:53:44 PM Ignore snofog Report Abuse Huh.
OHMS Champion Author Orange County Posts:8,113 Points:914,610 Joined:May 2005	Message Posted: Mar 13, 2010 7:48:53 PM Ignore OHMS Report Abuse wayne; your alliteration is wonderful; but you topic stands unsubstantiated. I will just watch the unemployment numbers, thanks.
clement007 Champion Author Cleveland Posts:2,141 Points:880,300 Joined:Apr 2005	Message Posted: Mar 13, 2010 7:48:04 PM Ignore clement007 Report Abuse another guess
rugbyphil Champion Author Las Vegas Posts:13,776 Points:2,553,145 Joined:Apr 2003	Message Posted: Mar 13, 2010 7:47:21 PM Ignore rugbyphil Report Abuse forget what they say, and bet on the futures market...then you become rich and can afford higher gas prices!
flyfast Champion Author Kansas City Posts:4,526 Points:880,250 Joined:Jan 2008	Message Posted: Mar 13, 2010 7:46:41 PM Ignore flyfast Report Abuse price will kept going up
mplato Champion Author Columbia Posts:4,236 Points:1,015,685 Joined:Jun 2004	Message Posted: Mar 13, 2010 7:41:53 PM Ignore mplato Report Abuse going up is not good for us either in this economy.
30mpg80 Champion Author Lexington Posts:1,365 Points:513,995 Joined:Nov 2008	Message Posted: Mar 13, 2010 7:39:09 PM Ignore 30mpg80 Report Abuse Oil prices on speculation bubble, will burst soon, they lose their greedy money and ask for a bailout
OGW Champion Author London Posts:1,361 Points:672,915 Joined:Sep 2005	Message Posted: Mar 13, 2010 7:32:49 PM Ignore OGW Report Abuse The USA economy has been tanking for years and Bush was the push over the edge. The US may never gain it's former world economic standing. We may have to live with higher gas prices as the rest of the world forges ahead.
preacherjohn All-Star Author Modesto Posts:829 Points:1,020,545 Joined:May 2006	Message Posted: Mar 13, 2010 7:30:59 PM Ignore preacherjohn Report Abuse Unemployment numbers in CA are very high & is soo sad.
ModelWarships Champion Author Missouri Posts:1,906 Points:458,990 Joined:Jul 2008	Message Posted: Mar 13, 2010 7:12:36 PM Ignore ModelWarships Report Abuse if it does the economy may take another dive.
Bonanza Champion Author Boston Posts:6,253 Points:1,578,590 Joined:Jun 2004	Message Posted: Mar 13, 2010 7:06:47 PM Ignore Bonanza Report Abuse Crude will spike upward with the onset of hyper-inflation.
heysailor Champion Author Pittsburgh Posts:4,675 Points:1,360,045 Joined:Mar 2006	Message Posted: Mar 13, 2010 7:01:40 PM Ignore heysailor Report Abuse Tell that to the speculators who, two years ago, pushed gas to four bucks.
AtascaderoHound All-Star Author California Posts:557 Points:588,690 Joined:Oct 2006	Message Posted: Mar 13, 2010 6:59:26 PM Ignore AtascaderoHound Report Abuse Get off the crude oil addiction and go on to something that's good for your health!
JoseM Veteran Author San Bernardino Posts:260 Points:368,930 Joined:Apr 2009	Message Posted: Mar 13, 2010 6:53:45 PM Ignore JoseM Report Abuse >>>> Sure it won't <<<<
MahopacJack Champion Author New York Posts:3,077 Points:723,225 Joined:Feb 2008	Message Posted: Mar 13, 2010 6:51:01 PM Ignore MahopacJack Report Abuse I'll file this in my bulging Oil Price Forecast File.
BurntOrange Champion Author Austin Posts:2,562 Points:619,790 Joined:Nov 2007	Message Posted: Mar 13, 2010 6:12:08 PM Ignore BurntOrange Report Abuse "Crude Oil Not Likely to Explode Higher" This good news. It can be quite messy when crude explodes.
pnd1 Champion Author Tallahassee Posts:1,885 Points:375,730 Joined:Jul 2009	Message Posted: Mar 13, 2010 6:06:03 PM Ignore pnd1 Report Abuse Some good news, but gas doesn't seem to being going down.
Amtrgas Champion Author Oakland Posts:2,149 Points:788,110 Joined:Dec 2007	Message Posted: Mar 13, 2010 6:05:01 PM Ignore Amtrgas Report Abuse Just wait to see what tomorrow brings. That is how know what the price of energy will be.
Buck_on_Bass Champion Author Tennessee Posts:2,811 Points:601,830 Joined:Jul 2007	Message Posted: Mar 13, 2010 5:59:06 PM Ignore Buck_on_Bass Report Abuse The chart and the analysis reflect the known. The unknowns are disruptive events that are not anticipated like Iran's actions, a sudden loss or gain in the available crude oil supply, or a surprise in alternate energy sources.
SUPERQUACK Champion Author Sacramento Posts:1,483 Points:988,025 Joined:Jun 2007	Message Posted: Mar 13, 2010 5:59:00 PM Ignore SUPERQUACK Report Abuse CRUDE GOES TO 90 BEFORE 60 ..... AND NO MATTER WHAT WE WILL PAY MORE AT PUMP !!
ACTown All-Star Author Oregon Posts:894 Points:714,910 Joined:Jun 2007	Message Posted: Mar 13, 2010 5:58:00 PM Ignore ACTown Report Abuse We sure hope not, but they are in business to make money.
emptytank08 All-Star Author Pennsylvania Posts:568 Points:612,450 Joined:Aug 2008	Message Posted: Mar 13, 2010 5:44:21 PM Ignore emptytank08 Report Abuse Speculators again
MINER Champion Author Pittsburgh Posts:8,442 Points:2,472,170 Joined:Jul 2002	Message Posted: Mar 13, 2010 5:44:02 PM Ignore MINER Report Abuse I think $3.00 gas is going to put the damper on things again. Lot of people have trouble with $2.00 gas. By the way, isn't it OUR EPA.
rollma2 All-Star Author Montreal Posts:655 Points:155,355 Joined:Jul 2009	Message Posted: Mar 13, 2010 5:42:47 PM Ignore rollma2 Report Abuse speculators
Bill100 Champion Author Grand Rapids Posts:3,646 Points:203,925 Joined:Jan 2010	Message Posted: Mar 13, 2010 5:41:29 PM Ignore Bill100 Report Abuse The final retail for gasoline for consumers will be higher regardless.
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Mar 13, 2010 5:38:16 PM Ignore DellMan Report Abuse Two things need to happen in the US to help prevent prices from skyrocketing. First we Obama and his EPA need to implement their plan for the speculators and secondly we need to stop being so dependent on foreign oil and start tapping our resources.
REKEY Champion Author South Carolina Posts:3,657 Points:732,400 Joined:May 2008	Message Posted: Mar 13, 2010 5:37:13 PM Ignore REKEY Report Abuse LIARS!
goldilox88 Champion Author Montreal Posts:2,268 Points:627,505 Joined:Jun 2008	Message Posted: Mar 13, 2010 5:36:51 PM Ignore goldilox88 Report Abuse Speculation.
ciimike Champion Author Nevada Posts:2,024 Points:396,905 Joined:Aug 2005	Message Posted: Mar 13, 2010 5:31:55 PM Ignore ciimike Report Abuse Its already at a false high.
NavyStore Champion Author Seattle Posts:2,697 Points:1,189,120 Joined:Aug 2005	Message Posted: Mar 13, 2010 5:31:33 PM Ignore NavyStore Report Abuse These predictions remind me of Kevin Bacon in 'Animal House'; "Remain Calm! All is well!!"
Hugo40 Champion Author Kentucky Posts:2,758 Points:653,935 Joined:Aug 2008	Message Posted: Mar 13, 2010 5:29:53 PM Ignore Hugo40 Report Abuse Look for higher prices from the producers, not likely they would lower any prices.
SUV2009 Champion Author Orlando Posts:1,137 Points:267,040 Joined:Oct 2009	Message Posted: Mar 13, 2010 5:27:28 PM Ignore SUV2009 Report Abuse truckguy115 you can say that again.
truckguy115 All-Star Author Orange County Posts:855 Points:141,870 Joined:Apr 2008	Message Posted: Mar 13, 2010 5:23:32 PM Ignore truckguy115 Report Abuse i still think we will get screwed no matter what anyone says.
tarheelcoastie All-Star Author Greensboro Posts:568 Points:207,660 Joined:Jan 2009	Message Posted: Mar 13, 2010 5:21:17 PM Ignore tarheelcoastie Report Abuse Let's wait to see if this comes true!
rickfro Veteran Author San Diego Posts:337 Points:173,200 Joined:Nov 2008	Message Posted: Mar 13, 2010 5:19:49 PM Ignore rickfro Report Abuse We should have to pay for gas based on speculation.
SeerLV Champion Author Las Vegas Posts:3,503 Points:718,660 Joined:Jun 2008	Message Posted: Mar 13, 2010 5:16:27 PM Ignore SeerLV Report Abuse The oil companies will find a way to spike the prices to line their pockets.
RocketmanC99 Champion Author Missouri Posts:1,267 Points:443,735 Joined:Jan 2007	Message Posted: Mar 13, 2010 5:15:52 PM Ignore RocketmanC99 Report Abuse How high is too high? We'll, for starters, it's too high now!