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Spot oil price dropped over $5.00 today??

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[quote:G. House]
Some of this stuff is rather confusing, but it looks like it ended up at $136.something.

Players of commodities as I understand it control large amounts of a commodity for a relatively small amount of money.

If the commodity goes up even a small amount large amounts of money can be made. On the other hand if the commodity goes down, not even a large amount you can lose much more than you originally invested.

The price changed down a little over $5.00 today. Were there some people that lost big time?

If people had put in "puts" would they have made money on the drop?

If that is the case, exactly how does that work?

If, say the price drops tomorrow the same amount or more could there be a panic making it drop even more? Especially given that it is hugely overpriced in the first place and that there are tankers that are full and aren't sold?

Any commodities experts here?

I'm not trying to make any point here, but am really asking how it works.

And another question, I think that the recent overspeculation in oil and other commodities is largely because other avenues such as real estate, mortgages, bonds, the stock market, etc. are not as profitable in the past. The larger players in these commodities are in some cases banks that control retirement assets. Are they setting everyone up for potential disaster if the bubble bursts?
[/quote]

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Some of this stuff is rather confusing, but it looks like it ended up at $136.something.

Players of commodities as I understand it control large amounts of a commodity for a relatively small amount of money.

If the commodity goes up even a small amount large amounts of money can be made. On the other hand if the commodity goes down, not even a large amount you can lose much more than you originally invested.

The price changed down a little over $5.00 today. Were there some people that lost big time?

If people had put in "puts" would they have made money on the drop?

If that is the case, exactly how does that work?

If, say the price drops tomorrow the same amount or more could there be a panic making it drop even more? Especially given that it is hugely overpriced in the first place and that there are tankers that are full and aren't sold?

Any commodities experts here?

I'm not trying to make any point here, but am really asking how it works.

And another question, I think that the recent overspeculation in oil and other commodities is largely because other avenues such as real estate, mortgages, bonds, the stock market, etc. are not as profitable in the past. The larger players in these commodities are in some cases banks that control retirement assets. Are they setting everyone up for potential disaster if the bubble bursts?

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