Please read this.
In a nutshell, more and more people are buying oil's put options on the market as low as $15 per barrel.
There is plenty of explanations on the internet wabout option trading, but what you need to know is simple
1. People spend their money to make money, not to lose money
2. People would not make any money if oil price does not drop below the mark they bet on.
3. If you do not trade oil options and do not know anyone who does, you can safely assume that people who bet have done their homework.
Why it would be a Christmas present? First, ACCC is actually grinding their paper tiger teeth at the petrol retailers. Dollar is still high, oil price plunging - but petrol prices ... Well, with the current level of oil prices and a dollar they shall be no more than 70 c per liter for unleaded.
Of course, saving at the bowser is a great thing. But fuel price is the thing that affects the whole economy, because bulk of transportation is automotive.
Which translates into cheaper prices across the board. Cheaper prices translate into drop in the "inflation" (how it is understood by RBA). Inflation dropping below RBA target translates into interest rate cuts. Interest rate cuts translate into many things, like smaller interest on mortgages, improved housing affordability and soaring property prices.
Last year if lived in Sydney - your house would have earned 3-4 times the amount you earn at your day job.
If you do not have a house - you earned nothing, and house has slipped further out of reach.
In other words, if you are the homeowner, I do not wish you Merry Christmas, you would have it anyway. Renters - you would need a LOT of wishes to feel slightly better.