Uso?

[usmbtech]

Is now a good time to go long oil? Surely it can't stay at these levels?

 

[Mad Scientist]

Uso?

So daiyo!

 

[usmbtech]

USO: Summary for U.S. OIL FUND ETF - Yahoo! Finance

U.S. OIL FUND ETF

 

[NOBama]

Is now a good time to go long oil? Surely it can't stay at these levels?

Personally, I'd wait until we see a solid bottom. Donald Trump seems to think oil could go as low as $25-$30 BBL. I remember him squaking about that (on CNBC) when oil was approcahing it's all time high and other talking heads were saying it was going to $200.00 BBL.

Anyway, when oil turns around I think it's going to run up into the $100's again, but it could be a while. So, catching the bottom isn't really to important, IMO.

 

[editec]

Yeah, I agree.

I wouldn't go long on oil right now.

The economy is still too fragile to count on a revival.

 

[Paulie]

Soon as you start hearing about banks loosening up their lending, go long.

 

[usmbtech]

Buy Oil, It's Cheap

Buy Oil, It's Cheap BP,CVX,DIG,OIL,USO,XOM - TheStreet TV

 

[NOBama]

More ideas

Two Ways To Play: OPEC On Slippery Slope

GL!

 

[editec]

When Obma pumps about ten trillion dollars into the economy (and most of it gets into the hands of the working class) THEN I'd start thinking about the oil prices rising again.

 

[DavidS]

What's the difference between us oil and light sweet crude oil?

 

[Sunni Man]

What's the difference between us oil and light sweet crude oil?

The crude oils properties, light and sweet, refers to their physical properties. Light crude has a higher API gravity while heavy crude has a lower gravity. They are actually thin and thick fluids. The term “sweet” refers to the lower amount of sulfur in the crude. Many US refineries seek sweet crude due to the refineries processing ability to handle sulfur. Gasoline and diesel fuel sulfur levels have been moving toward lower sulfur content, requiring more treatment at the refinery. Refineries that handle sour crude do so at an elevated cost. The sour crude oils are sold at a discount versus the sweet crude oils.

Re: what is the difference between light crude and sweet crude?

 

[Paulie]

The crude oils properties, light and sweet, refers to their physical properties. Light crude has a higher API gravity while heavy crude has a lower gravity. They are actually thin and thick fluids. The term “sweet” refers to the lower amount of sulfur in the crude. Many US refineries seek sweet crude due to the refineries processing ability to handle sulfur. Gasoline and diesel fuel sulfur levels have been moving toward lower sulfur content, requiring more treatment at the refinery. Refineries that handle sour crude do so at an elevated cost. The sour crude oils are sold at a discount versus the sweet crude oils.

Re: what is the difference between light crude and sweet crude?

This isn't what he was asking.

The difference, Dave, is crude listed on the commodities exchange is the futures data for physical crude delivery. USO is simply an ETF for tracking United States crude oil movement.

 

[NOBama]

When Obma pumps about ten trillion dollars into the economy (and most of it gets into the hands of the working class) THEN I'd start thinking about the oil prices rising again.

'Bout then we can start wearing t-shirts like:

 

[Paulie]

I say buy now while it's still this cheap. As prices at the pump rise from oil's price rising, your extra expense is hedged by your investment NOW.

DO IT.

 

[NOBama]

USO hit a new low of 32.10 today.