If oil is going to $150 or even $250 in the near term then I must ask the question why can I buy a barrel in December 2016 for $140.63 as of Friday. I have noticed that the long dated future contracts are starting to trade at larger discounts again which is a sign to me that the top for oil must be near. Anyway I can't guarantee that it wont trade higher soon so I will continue to short the super spikes with stop losses. I had another good night on Friday doing this.
I also couldn't believe that some idiot from the CSIRO was prepared to risk his reputation on Friday by saying petrol could reach $8 per litre in the next decade. Obviously he doesn't understad the rules of supply and demand and how ever increasing prices effect demand inversely.
