67 comments on This Week in Petroleum (TWIP) 12-27-2007
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I'm not trying to blame anyone. I'm trying to figure out how these fast corrections happen. 1-2hrs -ish after an incident you see this 'flattening' of the price curve. I noticed it after Turkey moved into Iraq recently and I'm seeing it again now. I wonder whether this is short term profit taking or another mechanism. I don't think we have 'Bernanke boys' on the market like on Wall Street.
today was odd
crude was up about $1.5 - half of this move happened at 830 when Bhuto assasination hit tape -the other half at 10:30 when weekly supply numbers came out. nat gas was down all day - over 20 cents - then at 1:50 or so, it spiked and closed up on day - no apparent news that im aware of, unless it was leak of tomorrows report....cold as hell here, but my socks are wet - im sure there is some physical property to explain this...
The NG January contract expired today, so that probably caused some volatility.