Current Oil Price

Mitch · Post by **Mitch** » 27 Jun 2008, 20:32

Vortex wrote:Computer driven sell orders. Down we go in an instant ...

Ah - yes - now surely we can use that somehow......

Keela · Post by **Keela** » 27 Jun 2008, 22:17

MacG wrote:It occurs to me that this "market" thing act like water in a river flowing from the mountains to the sea. Always seeking the lowest point to flow to. Sometimes there are obstructions and the river meanders and goes sideways or even back again for short distances, sometimes it's a straight path, sometimes it's a waterfall. When sitting in a small boat just flowing with the river, it can be difficult to see any kind of "big picture" - specially in the rapids.

Based on an attempt at "the big picture" and some physical fundamentals, I think gasoline prices are still ridiculously low! When filling up a normal car, we get the utility of some 20 marathon runs out of it. In air conditioned comfort. If we put four people in the car, we get the equivalent of 80 marathon runs out of a full tank. Together with 20-30 kg of luggage for every person.

Now, go out and make ONE marathon run with a 25 kg backpack, and come back and tell me what it would be worth to ride in comfort for another 79 marathons.

I think that ?50 per liter would still be considered as pretty cheap. Will take one person some 50 km in less than an hour on Skeptik's ANF 125.

Sure, the river can still make many turns, but the overall direction and destination should be pretty obvious.

Good post MacG
You're not wrong
Or do I mean - Your right!

Andy Hunt · Post by **Andy Hunt** » 27 Jun 2008, 23:08

Post by **mikepepler** » 28 Jun 2008, 08:13

Well I wasn't in the woods, but I was offline when it hit $142.99

$150 this summer seems no problem at all now, $200 here we come?

peaky2 · Post by **peaky2** » 28 Jun 2008, 08:20

mikepepler wrote: $150 this summer seems no problem at all now, $200 here we come?

Yes, but will we see a summer?

RenewableCandy · Post by **RenewableCandy** » 28 Jun 2008, 21:39

peaky2 wrote:
mikepepler wrote: $150 this summer seems no problem at all now, $200 here we come?
Yes, but will we see a summer?

Jet Stream's too bloody far South again...right over us, steering all the Lows our way

Andy Hunt · Post by **Andy Hunt** » 28 Jun 2008, 21:42

I thought it was because the festival season is just starting.

RenewableCandy · Post by **RenewableCandy** » 28 Jun 2008, 22:17

Andy Hunt wrote:I thought it was because the festival season is just starting.

Good point. Glastonbury 1987 springs to mind...

Vortex · Post by **Vortex** » 28 Jun 2008, 22:20

RenewableCandy wrote:
Andy Hunt wrote:I thought it was because the festival season is just starting.
Good point. Glastonbury 1987 springs to mind...

Talking of which, have you seen Amy Winehouse there - wrecked or what?

Andy Hunt · Post by **Andy Hunt** » 28 Jun 2008, 22:30

Glastonbury is just so commercialised these days, man.

I don't think even the Ozric Tentacles are playing there this year.

Vertis · Post by **Vertis** » 01 Jul 2008, 16:08

Nice and steady in the $140 area, and as yet no reaction to the latest IEA release downgrading their forecast of oil supply to 2013. If I'm honest, it's probably just confirming what the market already suspected.

Mitch · Post by **Mitch** » 01 Jul 2008, 17:01

Vertis wrote:Nice and steady in the $140 area, and as yet no reaction to the latest IEA release downgrading their forecast of oil supply to 2013. If I'm honest, it's probably just confirming what the market already suspected.

I rather suspect the markets are just getting tired of all these anouncements - they seem to be almost ignoring them alltogether now. A couple of dollars movements either way in a day appears to be just normal now......

Vertis · Post by **Vertis** » 01 Jul 2008, 17:07

Mitch wrote:I rather suspect the markets are just getting tired of all these anouncements - they seem to be almost ignoring them alltogether now. A couple of dollars movements either way in a day appears to be just normal now......

Remember when a couple of dollars felt like such a big deal? All of a sudden it's become placid!

Mitch · Post by **Mitch** » 01 Jul 2008, 17:42

Vertis wrote:
Mitch wrote:I rather suspect the markets are just getting tired of all these anouncements - they seem to be almost ignoring them alltogether now. A couple of dollars movements either way in a day appears to be just normal now......
Remember when a couple of dollars felt like such a big deal? All of a sudden it's become placid!

Was just saying the same thing to Tess the other day - 20 to 50 cents movements used to be heart stoppers, now it's not even interesting below a few dollars either way!!

oilslick · Post by **oilslick** » 02 Jul 2008, 15:26

Have we not had a new world record for a few days? Is it all over, was that it?