Re: I predict oil goes up today...
We're within five bucks, per bbl, of April's highs ... and, around fourteen (plus) dollars from last October highs. I was having a conversation with someone, yesterday, wherein they were saying that this "will really spike the price of crude .. and that'll crumble the economy". So, I called them back around 6:00 p.m. EDT, after West Texas Intermediate had been up 'n running for around an hour. At that time the market was around six dollah, no hollah, higher.
At which point the response was .... "See? This will be devastating." We were on the phone for a few minutes and crude was up around five bucks ... I pointed out how that was around four to five bucks under late April's trade .. and fifteen dollars, per bbl, below last October's trading. I asked, "Were we in a deep recession last October?" The reply was "No". So, I told him ... "Well, we can rally at least sixteen dollars, from here then, before this should "crush the economy .... He didn't seem to get it.
People are so freakin' stupid.