Post by jeffolie on Sept 24, 2012 10:36:34 GMT -6
Gas demand 15yr low = oil declining, coming BEAR market
Richard Russel of the Dow Theory fame would describe the collapsing Transports Index as a signal of a coming BEAR MARKET.
my jeffolie view on the Dow Theory: sometimes right or not so much; this signal takes a long time to finalize resulting in it being a poor short term trading indicator for the stock market but a fair indicator for the longer term. Essentially, it reflects the GDP and in particular it reflects the movement of goods in manufacturing and shipping to retailers plus as a bonus it reflects driving to work or pleasure.
The lower demand for fuel often means lower economic activity supporting my jeffolie view of that upto 2 yrs from now, the govt numbers will show that a govt defined recession started in the 3rd qtr. during what I call an ongoing continuing 'regular depression' for the most common American.
" ... Domestic demand for fuel hit a 15-year low in August, the American Petroleum Institute reported, and U.S. inventories of crude oil rose by 8.5 million barrels, prompting the drop in gas prices. ..."
==============================
Low demand for fuel in August spurs drop in gasoline prices
September 24, 2012
Demand trumped other factors affecting the price of crude oil last week, causing a 6-cent drop in gas prices in Tennessee, according to AAA Auto Club South.
Domestic demand for fuel hit a 15-year low in August, the American Petroleum Institute reported, and U.S. inventories of crude oil rose by 8.5 million barrels, prompting the drop in gas prices.
Nationally, the average price of a gallon of regular unleaded gas fell by 5 cents to $3.81, AAA said, as the price of crude oil fell by about $6 a barrel to close at $92.89 on the New York Mercantile Exchange. Tennessee’s average price per gallon stood at $3.61 with the price decline.
“Whether or not this downward trend will continue is uncertain, what is certain is that we are going to see more volatility in oil prices,” said Jessica Brady, AAA spokeswoman, The Auto Club Group.
In Memphis, the lowest price for unleaded gas can be found at Costco, 3775 Hacks Cross Road, for $3.36 a gallon, according to memphisgasprices.com.
www.bizjournals.com/memphis/news/2012/09/24/low-demand-for-fuel-in-august-spurs.html
Richard Russel of the Dow Theory fame would describe the collapsing Transports Index as a signal of a coming BEAR MARKET.
my jeffolie view on the Dow Theory: sometimes right or not so much; this signal takes a long time to finalize resulting in it being a poor short term trading indicator for the stock market but a fair indicator for the longer term. Essentially, it reflects the GDP and in particular it reflects the movement of goods in manufacturing and shipping to retailers plus as a bonus it reflects driving to work or pleasure.
The lower demand for fuel often means lower economic activity supporting my jeffolie view of that upto 2 yrs from now, the govt numbers will show that a govt defined recession started in the 3rd qtr. during what I call an ongoing continuing 'regular depression' for the most common American.
" ... Domestic demand for fuel hit a 15-year low in August, the American Petroleum Institute reported, and U.S. inventories of crude oil rose by 8.5 million barrels, prompting the drop in gas prices. ..."
==============================
Low demand for fuel in August spurs drop in gasoline prices
September 24, 2012
Demand trumped other factors affecting the price of crude oil last week, causing a 6-cent drop in gas prices in Tennessee, according to AAA Auto Club South.
Domestic demand for fuel hit a 15-year low in August, the American Petroleum Institute reported, and U.S. inventories of crude oil rose by 8.5 million barrels, prompting the drop in gas prices.
Nationally, the average price of a gallon of regular unleaded gas fell by 5 cents to $3.81, AAA said, as the price of crude oil fell by about $6 a barrel to close at $92.89 on the New York Mercantile Exchange. Tennessee’s average price per gallon stood at $3.61 with the price decline.
“Whether or not this downward trend will continue is uncertain, what is certain is that we are going to see more volatility in oil prices,” said Jessica Brady, AAA spokeswoman, The Auto Club Group.
In Memphis, the lowest price for unleaded gas can be found at Costco, 3775 Hacks Cross Road, for $3.36 a gallon, according to memphisgasprices.com.
www.bizjournals.com/memphis/news/2012/09/24/low-demand-for-fuel-in-august-spurs.html