Goldman: Oil going up

[Slimprofits]

http://www.bloomberg.com/apps/news?p...d=amRHVlbSydbI

Crude oil prices are poised for a “breakout” from a five-month trading range as importing of goods for Christmas retailing bolsters diesel demand, Goldman Sachs Group Inc. said in report.

Futures in New York have traded “in a very tight band” capped at $75 a barrel since mid-May, Goldman analysts including London-based Jeffrey Currie said in a report today.

“Diesel demand typically rises by mid-to-late October, as shipping of goods to restock shelves in anticipation of the Christmas retail season starts to pick up,” they wrote. “The market is increasingly focused on evidence of a rebound in distillate demand” which would “likely be the primary catalyst to create a sustainable breakout above the recent trading range.”

Crude prices today reached a seven-week high of $74 on growing confidence in a global economic recovery. Gains have been kept in check by above-average inventories of distillate fuels, such as heating oil and diesel, which are at their highest in 26 years in the U.S.

In another report e-mailed earlier today Goldman kept its forecast for crude to reach $85 a barrel by the end of this year on “modest” improvements in global demand in the fourth quarter.

But F Goldman. I'm going to toot my own horn here.

Oil at $66 = short term window of opportunity http://www.itulip.com/forums/showthread.php?t=12139

[goadam1]

Re: Goldman: Oil going up

How come every time Goldman calls for a new high in Oil it drops?

[Slimprofits]

Re: Goldman: Oil going up

How come every time Goldman calls for a new high in Oil it drops?

Is that so?

[xela]

Re: Goldman: Oil going up

Well, they sure tried to scare small investors when oil was hitting 33.. "forces of good" my ass

[ggirod]

Re: Goldman: Oil going up

This looks like oil is just poised to rocket to the stratosphere!

Sunoco, Valero Shut Plants as Fuel Glut Beats Winter

“Some refiners are not going to survive” unless profit margins recover, said Andy Lipow, president of Houston consultant Lipow Oil Associates LLC, and a 30-year veteran of the U.S. refining and oil-trading business. The most vulnerable “are inefficient refineries with high operating costs, high fuel costs. The East Coast refineries probably carry the biggest risk because they compete with the rest of the world.”

[santafe2]

Re: Goldman: Oil going up

Crude oil prices are poised for a “breakout” from a five-month trading range...

Who would know better than Goldman? They're the specs that will drive it up if that's what they decide to do. The market has already proven it's stable in the $70 area, what have they got to lose by driving it up from here?

[jneal3]

Re: Goldman: Oil going up

http://www.bloomberg.com/apps/news?p...d=amRHVlbSydbI

Crude oil prices are poised for a “breakout” from a five-month trading range

More accurately put:

Goldman bonuses are poised for a "breakout" from a five-minute holding range thru imminent blatant manipulation of the oil futures market...

[Yaowarat]

Re: Goldman: Oil going up

Goldman's Super Spike Theory
March 2008

http://www.marketwatch.com/story/gol...0-a-barrel-oil

With $100-a-barrel here for now, Goldman Sachs says $200 is coming

Of course, oil dropped precipitously soon after this call.

Tacking on $15 a barrel to all of its oil estimates, Goldman now sees average selling prices of $95 a barrel for 2008, $105 a barrel for 2009 and $110 a barrel for 2010. The high end of its range is now $135 a barrel -- but Goldman hinted that prices could be headed even higher.

[sishya]

Re: Goldman: Oil going up

I believe Goldman here . I think Oil is going to go up, even to $200.

[Slimprofits]

Re: Goldman: Oil going up

Awesome comments on this thread. Let it all out people.

Gasoline prices held steady for three weeks and are now rising or about to everywhere in the U.S. Traditionally, gasoline prices fall in the Winter time, sometimes even while the price of oil in the casinos remains steady. That was not the case in the 2007. I think we're seeing a repeat of the Winter of 2007 with respect to the dollar and oil. I thought $66 was a short-term window and as long as there is no event that causes another rush back into the dollar than oil is going up whether or not U.S. demand for gasoline stagnates for another two-five years. Pretty simple right? Of course I'm not a trader.

By the way, the NOAA is predicting unseasonably warm Winter temperatures for the Western, Plain and Midwestern states. Unseasonably cool temperatures for the states in the Southeast and near the Gulf. The Northeast is the big wildcard.

http://www.cpc.ncep.noaa.gov/product.../churchill.php

[Dr.No]

Re: Goldman: Oil going up

http://www.bloomberg.com/apps/news?p...d=amRHVlbSydbI

Crude oil prices are poised for a “breakout” from a five-month trading range as importing of goods for Christmas retailing bolsters diesel demand, Goldman Sachs Group Inc. said in report.

Futures in New York have traded “in a very tight band” capped at $75 a barrel since mid-May, Goldman analysts including London-based Jeffrey Currie said in a report today.

“Diesel demand typically rises by mid-to-late October, as shipping of goods to restock shelves in anticipation of the Christmas retail season starts to pick up,” they wrote. “The market is increasingly focused on evidence of a rebound in distillate demand” which would “likely be the primary catalyst to create a sustainable breakout above the recent trading range.”

Crude prices today reached a seven-week high of $74 on growing confidence in a global economic recovery. Gains have been kept in check by above-average inventories of distillate fuels, such as heating oil and diesel, which are at their highest in 26 years in the U.S.

In another report e-mailed earlier today Goldman kept its forecast for crude to reach $85 a barrel by the end of this year on “modest” improvements in global demand in the fourth quarter.

But F Goldman. I'm going to toot my own horn here.

Oil at $66 = short term window of opportunity http://www.itulip.com/forums/showthread.php?t=12139

I agree. Expected support now likely between 75 and 72, and a break of 80 will likely confirm a new bull market. 80, however, has to be broken on a weekly close to open the door to the next significant resistance around 100.

[goadam1]

Re: Goldman: Oil going up

Maybe Goldman knows if we are going to bomb Iran... or not.

[Adeptus]

Re: Goldman: Oil going up

Maybe Goldman knows if we are going to bomb Iran... or not.

"If" ??

hahaha

[GRG55]

Re: Goldman: Oil going up

Maybe Goldman knows if we are going to bomb Iran... or not.

Looks like they are back to bombing each other...;)

[Slimprofits]

Re: Goldman: Oil going up

As we approach $80 oil, I dig up this classic from the archives:

http://money.cnn.com/2007/10/19/pf/o...ommentary_sivy

I think Sivy retired from writing in 2008.