12-04-2008, 04:25 PM
Dec. 4 (Bloomberg) -- Gasoline futures fell below $1 a gallon as crude oil dropped under $44 a barrel to the lowest in almost four years.
Gasoline dropped after a Merrill Lynch analyst said crude oil prices may dip below $25 a barrel if the worldwide recession spreads to China. Heating oil also fell as the Energy Department said today that natural gas stockpiles declined less last week than analysts had expected.
âThe overall trend is still down, and you canât really point to any constructive economic data that says otherwise,â said Tom Knight, trading director at Truman Arnold Cos. in Texarkana, Texas.
(read further)http://www.bloomberg.com/apps/news?pid=2...fer=energy
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It's great to fill up the tank again on my Sherman Tank, took only $35.00. If it drops much lower I'll pre-buy $1000.00 or more on gas to my GasCard for future purchases. Or that called hording?
Bad part is if oil goes too low, people of the world will be in such an agitated state "All Out WW3" might happen a little sooner. Hope not... but my (equipment) is oiled, loaded & ready. :roll:
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
As expected one or more oil producing countries would cut back on oil refining, shipping or exports. Kuwait, Qatar are the first two to announce such plans and will happen in Jan, 09. Is this the beginning spark of Global irritations that will ignite World War 3? :roll:
Gasoline dropped after a Merrill Lynch analyst said crude oil prices may dip below $25 a barrel if the worldwide recession spreads to China. Heating oil also fell as the Energy Department said today that natural gas stockpiles declined less last week than analysts had expected.
âThe overall trend is still down, and you canât really point to any constructive economic data that says otherwise,â said Tom Knight, trading director at Truman Arnold Cos. in Texarkana, Texas.
(read further)http://www.bloomberg.com/apps/news?pid=2...fer=energy
======================================================
It's great to fill up the tank again on my Sherman Tank, took only $35.00. If it drops much lower I'll pre-buy $1000.00 or more on gas to my GasCard for future purchases. Or that called hording?
Bad part is if oil goes too low, people of the world will be in such an agitated state "All Out WW3" might happen a little sooner. Hope not... but my (equipment) is oiled, loaded & ready. :roll:
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
As expected one or more oil producing countries would cut back on oil refining, shipping or exports. Kuwait, Qatar are the first two to announce such plans and will happen in Jan, 09. Is this the beginning spark of Global irritations that will ignite World War 3? :roll: