crash of 2004 - oil +=+=+=, page-4

Blackwolf,

I called you on USD40 oil for two days running before Christmas, and you wussed out.

Sure, oil has dropped from it's peak.

But we'll see where it troughs to.

Me, I think a USD40-50 trading band is the highest likelihood.

It's notable that Tapis prices havent bounced around anywhere near as much as WTI, and Tapis prices are what Australian producers get paid on.

Ian Whitchurch, who notes at USD40 oil is 50% above what it was 2 years ago. Some crash.