Daily Oil Market Summary: May 21

Courtesy of FMX Connect

Comments

[AUD]

Even the millions of barrels of crude currently being lost in the Gulf of Mexico, can't stop the price from dropping? I think peak oil is exaggerated. I'll go as far as to say that the $price has less to do with the supply & demand of physical oil than the undefinable nature of the $ itself.

[jp]

Anyone see a price drop of 50 cents at the pump yet?

http://futuresource.quote.com/charts/charts.jsp?s=XRB%20M0

There is the wholesale move, in black and white, but did anyone see it at the retail level?

Until we do, the rest is just so much window dressing. What does a gal of gasoline go for in EU?

The price is a reflection of the estimated value, or to use a better word, speculation. It is the speculators that have controled pricing and price action.

How is that possible. Because Our own Gov. doesn't give two cents for it's own people, & why is that, because we don't vote for the people's party, we vote for the banksters party. Anyone who tells me there is no difference is so closed minded to the truth they can't see the forest for the trees.

I've got one for you.

Go rent Sicko at the blockbuster or from Netflicks, and talk to me about health care. Then I will talk to you about oil and gas.

[Grand Supercycle]

The March 2009 lows won't hold.

Updated DOW daily and weekly charts:
 
http://stockmarket618.wordpress.com

http://www.zerohedge.com/forum/latest-market-outlook-1

[Dapper Dan]

This is like driving on the autobahn with no cars.

I had my kids look at the live feed video of the BP leak around 5:30 Friday,

then had them look at it at lunch today,   both concur, more volume today. 

A 12 yr old and 16 yr old, no skin in the game, no position, just an honest opinion. 

Try this at home and post the results.

Captcha=severity?

[Dapper Dan]

I hope someone post a reply to Grand Supercycle, I feel uncomfortable being this close.  Smothered in Spam?

[Madhouse]

We can destroy the planet five times over, we send crafts to far corners of the universe and create DNA... but the government cannot stop a two foot pipe from spewing ? You left it to some British oil company ?

Where the hell is/has been the Navy, the Army Corps of Engineers ?  All we get is yet another Washington "panel" ? 

How pathetic Obama, I mean, you genuinely have your head up your ass..

[williambanzai7]

BUBBA PUMP:

http://williambanzai7.blogspot.com/2010/05/bp-to-merge-with-bubba-gumps....