Quote:
Originally Posted by JimH52  |
Enjoy what? It's not like that changes the price of gasoline instantaneously.
Where I live, gas has been at $3.99 for a couple weeks, and the price of oil has gone up over $10/bbl during that time. It's almost as if they're doing everything they can to keep it from hitting $4 around here, like it's some kind of psychological mark. Maybe it is, but why fight it?
Oil has nowhere to go but
up. I'm convinced we won't see oil really start to decline to where it SHOULD be until we start pulling troops from Iraq, and the possibility of military action against Iran subsides. Right now, there's just too much geopolitical uncertainty.
I'm still extremely comfortable staying long in my oil position.