Current Oil Price

RevdTess · Post by **RevdTess** » 09 Jul 2008, 18:05

I'm not going to ask what you were hoping to find when you did a web search for that.

PS_RalphW · Post by **PS_RalphW** » 10 Jul 2008, 19:47

WTI up $5 to $141.50 What's the news?

Mean Mr Mustard · Post by **Mean Mr Mustard** » 10 Jul 2008, 19:55

RalphW wrote:WTI up $5 to $141.50 What's the news?

Iran?

http://www.timesonline.co.uk/tol/news/w ... 310748.ece

PS_RalphW · Post by **PS_RalphW** » 10 Jul 2008, 19:59

Or just the monthly rebound from the speculators' attempts to short the market.

Spiked over $142. I was beginning to miss these posts

PS_RalphW · Post by **PS_RalphW** » 11 Jul 2008, 10:54

Oil at $145 and gold near $950.

There is an air of (Isreal/Iran?) panic in the market today

Andy Hunt · Post by **Andy Hunt** » 11 Jul 2008, 10:58

Talk about volatility . . . in just a few days the oil price dropped $10 and then back up again to where it was.

Jitters . . .

oilslick · Post by **oilslick** » 11 Jul 2008, 11:02

I've lost track now. What's the current world record?

PS_RalphW · Post by **PS_RalphW** » 11 Jul 2008, 11:14

About $145.99 for the next 15 minutes, and then higher...

MacG · Post by **MacG** » 11 Jul 2008, 11:19

Still ridiculously cheap. It gives a certain feeling of vertigo to see something so useful sold so cheap.

RevdTess · Post by **RevdTess** » 11 Jul 2008, 11:31

It's as fascinating as ever to watch the market reverse from being super bearish to going back towards all time highs so quickly. However, it would be about the fifth time now this year we've sold off towards major 'technical' support lines on the charts (eg the 34-day moving average) and then rallied towards new highs.

In this case the sell-off was more than enough to allow refinery margins to race away from levels where refiners were cutting production, and of course the Iran thing kicked off, and Libya cut production for maintenance, and a bullish north sea cargo loading programme was released, and the euro rose against the dollar. And this is just the stuff I've seen without having access to the newswires at the office any more. This market can turn on a dime. There's plenty of money waiting to 'invest' in the market whenever it looks like value relative to other investment opportunities. And when the money comes in, it's like a hurricane.

Mean Mr Mustard · Post by **Mean Mr Mustard** » 11 Jul 2008, 12:54

Should this thread have a 'sticky'?

RevdTess · Post by **RevdTess** » 11 Jul 2008, 12:58

I dont think it'll ever need one as there'll be new highs every few days until the end of time at this rate

PS_RalphW · Post by **PS_RalphW** » 11 Jul 2008, 13:36

$146.48 New record. $150 today?

biffvernon · Post by **biffvernon** » 11 Jul 2008, 13:50

No idea what this means but it sounds awfully impressive:

NWE gasoline barges trade at record high price: broker

London (Platts)--11Jul2008
Gasoline barges in the Amsterdam-Rotterdam-Antwerp barge market were trading Friday morning at record-high levels, according to a broker, as crude futures rose to around $145/barrel.

Trafigura sold to StatoilHydro at $1,193/mt in the 10 ppm barge market, the broker said.

This is $18/mt higher than the record-high assessed price of $1,175/mt on July 3, according to Platts data.

The European gasoline market has gained strength this week as the 10 ppm barge crack spread against front-month ICE Brent has risen from minus $4/b at the end of last week to minus $2.50/b Friday.

Firmer US RBOB prices and improved demand from within Europe and the Persian Gulf have driven the rise, according to market sources.
--Chris Carroll, chris_carroll@platts.com

http://www.platts.com/Oil/News/8874044.xml

RevdTess · Post by **RevdTess** » 11 Jul 2008, 14:04

146.87 ...