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Oil at $92.00 a barrel today

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How long is it going to take for gas to skyrocket? It was $80 a week ago. Is this because of the sanctions we put on Iran? Who the heck sets this price?

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The reported price is an agreement between a seller and a buyer. These are folks who are speculating on the supply and demand 30 to 60 to 90 days from now. Nice way to make a living when you buy a contract for a tanker full of oil for $80 per barrel and sell the contract 30 days later for $90 per barrel. And you don't even have to touch the product.

But the downside risk is that Saudi Arabia (or someone else) can open their supply spigots a little wider and leave you holding $80 a barrel oil when buyers are only willing to pay $70 per barrel.


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Gas pricing seems more directly linked to supply and demand through the refineries. As I understand it, gas is not a primary result of refining crude oil, but is more or less a by-product of refining to yield other end products.


http://zfacts.com/p/35.html Another topic -- today's gas prices are high, but not out of sight of recent gas prices once adjusted for today's dollars:



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