239 comments on DrumBeat: January 21, 2008
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239 comments on DrumBeat: January 21, 2008
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Your top story at the moment: "Oil falls below $89 as stock markets plunge"
I think it really shows us that we are on the peak oil plateau when the FTSE in London can fall more than 3% amid stories of jitters in the city and we are still knocking on 90 dollars a barrel.
It looks as if demand destruction at higher prices is reversible and buyers will return to keep the floor price up if the price softens.
Carbon, Coventry UK.
Yeah, that's what struck me, too. So far, it's looking like those who predicted demand from developing countries would prevent a big drop in oil prices are right.
Hang Seng down 16% over last 2 days
Dow futures down 595.
Don't know if oil demand will drop. If we lose 50% worldwide over the next week, there maybe nowhere to go but up from there on out.
I paid everything I could electronically overnight just to get it in before morning, and tranferred funds everywhere I could so all my money isn't in one basket.
India's Finance Minister P Chidambaram has urged Indian investors to "remain calm" and advised them to "stay invested".
Glad I've been out of the Markets for months now. Does not sound good and the CNBC message all night has been the same "stay invested". Right. If I were in I'ld be selling everything I got.