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Posts tagged “distillates”

By Robert Rapier on Nov 22, 2007 with no responses

Why Oil Prices Defied Expectations

Happy Thanksgiving to all! It was a normal work day here in Scotland for me, which stinks. But I am now home, the turkey just came out of the oven, and soon I will be sitting down to watch the Dallas Cowboys on my Slingbox. What a great invention that thing is! A lot of people – including me – were very surprised that we didn’t break through the $100/bbl barrier on Wednesday. After all, analysts had expected a large crude build, and instead there was a large draw. Given that on Tuesday night WTI had traded as high as $99.29 – and as nervous as the markets have been – I thought $100 was a sure thing given the… Continue»