Current Oil Price

emordnilap · Post by **emordnilap** » 06 Mar 2010, 18:01

Mitch wrote:...anyone for the next global crash?

It's on the phone, demanding an invite to the party.

Andy Hunt · Post by **Andy Hunt** » 06 Mar 2010, 21:36

emordnilap wrote:
Mitch wrote:...anyone for the next global crash?
It's on the phone, demanding an invite to the party.

ooh sharp . . . I nearly cut myself on that one

PS_RalphW · Post by **PS_RalphW** » 10 Mar 2010, 16:05

Oil just tipped over $83 on recovering US demand, falling imports.

That in spite of the official US storage levels rising as well.

It looks like the hidden floating oil tanker storage bank has finally been emptied.

biffvernon · Post by **biffvernon** » 10 Mar 2010, 16:58

Can't help being a bit cynical about attempts to ascribe these movements to particular causes. It was at $83 on January 6th - see a couple of pages up this thread. When a system is subject to several variables that are interdependent the output is likely to be chaotic.

Even the simple classical biology population model of foxes and rabbits produces a chaotic result.

Post by **adam2** » 11 Mar 2010, 14:45

As disscused elswhere on these forums, there is a near-term gas shortage, which may slightly increase oil prices.

Some gas turbine power plants can burn light oil as a short term measure, and some probably are at present.

Some large gas users are on an interuptible tarrif and can burn oil instead when required.

PS_RalphW · Post by **PS_RalphW** » 01 Apr 2010, 14:56

A nice price for 1st April.

Just gone through $85 for an 18 month high.

Happy Easter!

(I'm off on a 300 mile drive tomorrow

)

RevdTess · Post by **RevdTess** » 01 Apr 2010, 14:59

$100 again next, then!

biffvernon · Post by **biffvernon** » 01 Apr 2010, 15:12

Are we any closer to knowing how much of the world's oil is actually bought at the spot price we talk about? Is the spot price a good indicator of reality?

emordnilap · Post by **emordnilap** » 01 Apr 2010, 15:13

Tess wrote:$100 again next, then!

If and when it does and, as a result, the economy spirals ever downwards, I wonder how many will have an 'aha!' moment? Not many, I suspect. The connection is too frightening to contemplate.

It's accepted by a minority that the downward slope of fossil fuel extraction is bringing this bumpy ride to the economy. But, no doubt, there'll be many's the scapegoat in the near future before the majority realise the need to cut energy consumption.

The world's PTB are unable to act, so nature will force their hand.

biffvernon · Post by **biffvernon** » 05 Apr 2010, 17:56

It may be a bank holiday by the ticker hit $86.90

emordnilap · Post by **emordnilap** » 06 Apr 2010, 13:01

...and off we go again. Wheee!

ziggy12345 · Post by **ziggy12345** » 06 Apr 2010, 14:12

This practice is still going on and has been expanding around the world.

http://www.elertgadget.com/elertlibrary ... 181263.htm

Currently there are 40-50 fully loaded tankers waiting for prices to go up

emordnilap · Post by **emordnilap** » 06 Apr 2010, 15:34

Up, up and away.. $87

Post by **adam2** » 19 Apr 2010, 09:31

Oil has fallen several $ in the last few days, could this be due to the great reduction in European air travel ? or is that not enough to notice globally ?

After all more fuel is certainly being burnt in cars, trucks, ships and diesel trains.

PS_RalphW · Post by **PS_RalphW** » 26 Apr 2010, 12:39

WTI is once more the laggard oil grade, at a mere $85.45.

Spot prices of other premium grades are sharply higher, Brent by $2 and Tapis (far East) spot price is $91.34, a $6 lead.

China is buying oil like there is no tomorrow.

http://www.upstreamonline.com/marketdat ... _crude.htm