Libyan leader Moammar Gadhafi said he won't step down and wants to die as a martyr in his country.
Endlesswave
I'm sure he'll get his wish...
Shaya007
This scumbag hypocrite makes me laugh
hardcore trancer
quote:
Originally posted by Shaya007
This scumbag hypocrite makes me laugh
I swear this guy lives in a different reality.
VDub
What did I say...
quote:
A single floor trade for an April contract hit $100 per barrel, with electronic trading hovering around $99-$99.75. The last time oil was this high was October 2, 2008 when it hit $100.37/barrel.
And this is even though Saudi Arabia said it could handle any kind of Libya supply shortage...
Endlesswave
quote:
Originally posted by VDub
What did I say...
And this is even though Saudi Arabia said it could handle any kind of Libya supply shortage...
I read somewhere that the Saudi's inflated their oil estimates/reserves by 40%...
jester
quote:
Originally posted by Endlesswave
I read somewhere that the Saudi's inflated their oil estimates/reserves by 40%...
I think it was wikileaks that released the info. Now Venezuela saying they have over 500 billion barrels.
Endlesswave
quote:
Originally posted by jester
I think it was wikileaks that released the info. Now Venezuela saying they have over 500 billion barrels.
Ah yeah right, it was wikileaks. Apparently our oilsands have the worlds 2nd largest resource available for that...
exraver
Meanwhile in Libya
Nrg2Nfinit
quote:
Originally posted by VDub
What did I say...
And this is even though Saudi Arabia said it could handle any kind of Libya supply shortage...
Qhen saudi announced they would supply the oil lost from libya (which ironically only 0.6% is imported to the US) WTI crude dropped to 96 $ per bbl from 103$ per bbl
you should really be paying attention to the brent crude found in the north sea which is what directly effects this matter (trading close to 114 down to 110). Hence the large wti to brent spread.
Nrg2Nfinit
quote:
Originally posted by jester
Sell your car and buy some petrol stocks ;)
buy on rumor sell on news. anyone who bought oil stocks today would have lost their shirt.
The issue with libya is not what it supplies but its reserves which are not tapped yet.
Nrg2Nfinit
quote:
Originally posted by jester
I think it was wikileaks that released the info. Now Venezuela saying they have over 500 billion barrels.
Again, Libiya means nothing to north american oil. The issue here is that brent crude is taking off and WTI is following suite. Read about the wti to brent spread then you'll understand. EIA just reported today that US storage came in today at 0.8 million net surplus over last week storage.
