Current Oil Price

Discussion of the latest Peak Oil news (please also check the Website News area below)

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PS_RalphW
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Post by PS_RalphW »

Oil price is down sharply again att 34 dollars WTI. It may be a month end effect, but it is due to the return of national lockdowns in Europe, and the prospect of president Biden, who will introduce measures to contain covid, with a big drop in US demand
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PS_RalphW
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Re: Current Oil Price

Post by PS_RalphW »

WTI rebound has broken through $50, currently $50.76. Not sure what the current surge is from, may be just coving short positions. UK transport emissions are now back above pre-pandemic levels, as people abandon public transport in favour of cars, easily outweighing the savings from reduced aviation and a doubling of electric car sales.[
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PS_RalphW
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Re: Current Oil Price

Post by PS_RalphW »

More Rocket and missile attacks on Saudi oil facilities sends Brent above 70 dollars for the first time since the pandemic. Saudis say they are in no hurry to increase production to pre pandemic levels because they don't see much competition from US shale producers ramping up any time soon. SA is back in control of global oil prices.
kenneal - lagger
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Re: Current Oil Price

Post by kenneal - lagger »

I've just noticed that the oil price board isn't at the bottom of the page any more since we moved to the new format. Can anything be done about that, please?
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PS_RalphW
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Re: Current Oil Price

Post by PS_RalphW »

It was pretty useless. I stopped looking at it a decade ago. The BBC news site has a reasonable page for Brent and WTI price data if you want simple front month price data. It is up 99% of the time and reasonably near real time. If you need more detailed analysis ask the Revd Tess.
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adam2
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Re: Current Oil Price

Post by adam2 »

Agree, and the BBC site gives a choice of Brent Crude, West Texas intermediate, and offers daily, monthly, anual and fiver yearly charts.
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Re: Current Oil Price

Post by kenneal - lagger »

OK. I'll try that.
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adam2
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Re: Current Oil Price

Post by adam2 »

Brent crude has now reached a 12 month high at about $72, and is not that far from the five year high of about $85.

Still only about half the all time high of about $140 reached some years ago.
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Re: Current Oil Price

Post by kenneal - lagger »

adam2 wrote: Thu Jun 10, 2021 4:30 pm Brent crude has now reached a 12 month high at about $72, and is not that far from the five year high of about $85.

Still only about half the all time high of about $140 reached some years ago.
How about the price allowing for inflation. I bet that it's not far off the $140 on that basis.
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PS_RalphW
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Re: Current Oil Price

Post by PS_RalphW »

Err, Ken, I think you got that back to front. $140 6 years ago would be more than $140 today
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adam2
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Re: Current Oil Price

Post by adam2 »

Indeed, oil would have to reach about $200 in todays inflated paper money to exceed in real terms the all time high of about $140 reached some years ago.
No great accuracy can be claimed as it depends on whose inflation rate is used.
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Re: Current Oil Price

Post by kenneal - lagger »

Der!!!!
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PS_RalphW
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Re: Current Oil Price

Post by PS_RalphW »

Brent breaks $75. This is the highest for 3 years. Pound is relatively strong over the dollar, so the local price is not so high at the pumps yet.
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