The New York light, sweet crude oil future hit a brand new all-time high, closing at $63.94 per barrel today, and trading — for a time — at $64. Analysts and traders see no downside right now, but two weeks ago nobody saw any upside either. Between a bunch of refinery outages last week, and lingering concerns following King Fahd’s death (and the continued closure of the US consultes and embassy in Saudi Arabia), people who want crude oil (and people who want to profit from trading “paper barrels,” otherwise known as speculators) are right now convinced going long — … Continue reading I Love The Smell of Oil Futures in the Afternoon