SoWonder Why Oil goes Up...

maybe the big integrated oil companies who can make money from high oil while losing money on refining operations want to drive oil prices up as high as they can so they can buy small pure play refiners cheaply to expand future refining capacity...

watch for refinery buyouts...PBR has already begun purchasing some...

the pure plays are surely not able to sustain this bakwardation in the industry for long...

Oh Yeah - 1.05x the maximum technical range of Light Sweet Cruide is:

LSCrude ~|~130.2| .... just like it could be swatted short - I suppose it can also be easily swatted up to high - but eventually -- the volume gaps below this level will have to be filled before consistent moves higher are permanently sustainable --> which they eventually will be ... it has to work its way up and around sometimes back down...

130.2/1.05= 124 - a major attractor for this Light Sweet Stuff...

since it's at this tip top of a huge run --> I am calling it the sanity barrier...anything higher is insane and should fall short of long term support...if a large thick volume base is laid out below, then maybe theses higher levels will become sustainable...in the meantime what jettisons up to velocity zero must land somewhere that can hold it up right away or it falls back down until it finds a spot that can prop it up...