Monday, July 25 2005 @ 04:57 AM EDT Contributed by: Oilcasters Views: 743
The Oilcast CopriDex (Cdex) for this week July 25th to 29th is $58.31.
Last week's forecast was $60.95.
The actual average price over the week was $57.48. The Cdex was too high by $3.47 or 6.03%.
The Friday closing price was $58.65. The Cdex was too high by $2.30 or 3.93%.
Some ongoing factors you might like to consider:
1. How will China's Yuan revaluation affect the market?
2. Will Hurricane Emily have created a draw down in US inventories?
3. Will the disturbances in London unsettle markets, for example threatening travel fuel useage?
What is the Oilcast CopriDex?
The Oilcast CorpiDex is a co-operative price forecast for NEXT WEEK’s NYMEX crude oil price.
You vote for where you think the price will go next week.
As an example, if it is Monday June 1st through Friday June 5th, you are voting for where the price will be from Monday June 8th through Friday June 12th.
We will then compare the forecast you make with:
A) the average price over the week and:
B) the closing price on Friday.