Better Fill up today

[frawin]

Redcliff, I think the last paragraph says it all, UNCERTAINTY

[redcliffsw]

Thanks for pointing that out.  As I recall in July 2008 when oil was at $147,
it never entered my mind that we'd be at $30 today.
In July, I was thinking we had a couple more years before $30 oil.

[frawin]

The outer/back months ( out 3-5 years) are trading in the $70.00 to $80.00 range, the traders are betting the world economy will recover and consumption will be back up by then. 

[frawin]

Feb-09 Crude settled at $35.40, down $1.88 on the day, Feb-09 Natural Gas settled at $4.843, down $0.127 on the day.

[frawin]

Feb-09 Crude is trading at $35.725, up $0.325, Feb-09 Natural Gas is trading at $4.94, up $0.097.
March crude is trading at $43.40 and April is trading at $48.50, it will be interesting to see where they go as they become front month. If the world economies don't improve the the near term back months will move down.

[frawin]

Feb-09 Crude settled at $36.51, up $1.11 on the day, Feb-09 Natural Gas settled at $4.801, down $0.042 on the day.

[frawin]

March-09 Crude is trading at $41.15, down $1.42 Feb-09 Natural Gas is trading at $4.69, down $0.111.

[frawin]

March-09 Crude is trading at $40.375, down $2.195 Feb-09 Natural Gas is trading at $4.595, down $0.206.

[frawin]

Feb-09 Crude settled at $38.74, up $2.23 on the day, Feb-09 Natural Gas settled at $4.642, down $0.159 on the day.
Today was the last day for Feb-09 trading in Crude, March-09 will be the front month tomorrow, March-09 settled at $40.84, down $1.72 on the day.
 

[frawin]

March-09 Crude is trading at $41.175, up $0.335, Feb-09 Natural Gas is trading at $4.665, up $0.023.

EIA Weekly Inventory report comes out today, it will be interesting to see where the inventories are.
I forgot about the Monday Holiday, the inventory report won't come out until tomorrow.