Monday, August 01 2005 @ 07:34 AM EDT Contributed by: Oilcasters Views: 697
The Oilcast CopriDex (CDex) for this week July 25th to 29th is $60.66.
Last week's forecast was $58.31.
The actual average price over the week was $59.47. The CDex was too low by $1.16 or 1.95%.
The Friday closing price was $60.57. The CDex was too low by $2.30 or 3.79%.
This is the closest CDex forecast so far.
Some items to consider for next week August 8th to 13th.
1. Are new tropical storms forming?
2. What are the longer term consequences for prices on the death of Saudi's King Fahd?
3. Will US stocks continue to be drawn down?
4. Will hot weather increase consumption?
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.