NYMEX Crude : Waiting for the Arabs to wake up

For all those driving V8’s in Thailand, the chart below bodes well, because a spike in oil to 100+ must surely be on the cards now, making V8 drivers rarer than a seat on the Skytrain.

CL, NYMEX Light continuous contract’s monthly chart below suggests to us the US$ 102.80 is within sight, and if the mad dog of the middle east goes bananas later today when his countrymen wake up, the ton could be hit with 24-36 hours for the underperforming NYMEX oil futures.

 

Fire in the dunes?

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