Current Oil Price

PS_RalphW · Post by **PS_RalphW** » 09 Feb 2011, 14:01

In a few years time oil tankers in the region will be allocated an onboard military escort for each journey. They will be fitted with short range missiles and other weaponry.

However, I think this tanker was too small to make a significant impact. There is no shortage of tankers, and after paying a ransom the oil will be returned.

ziggy12345 · Post by **ziggy12345** » 09 Feb 2011, 15:12

After I was kidnpped off of an intallation in Nigeria I rigged up a "Petrol Shower" system above the main access route and we all carried flare guns. Pity I never got to try it. It seemed to be an effective deterant in the middle ages.

Nuke the bastards!

PS_RalphW · Post by **PS_RalphW** » 09 Feb 2011, 15:25

sharp rebound on oil prices today. Perhaps that wikileak is having an effect.

Six spot grades over $100

Post by **adam2** » 10 Feb 2011, 09:37

Brent crude is now about $14 higher than USA, most unusual and perhaps a record.
As Ralph points out previously, Brent may be a more accurate indicator, though the USA figure is more widely quoted.

PS_RalphW · Post by **PS_RalphW** » 10 Feb 2011, 10:02

All non-US spot prices are over $97. Tapis over $105.

I think it safe to say that we are over the $100 mark for all practical purposes outside the US.

Blue Peter · Post by **Blue Peter** » 10 Feb 2011, 10:06

RalphW wrote:All non-US spot prices are over $97. Tapis over $105.

I think it safe to say that we are over the $100 mark for all practical purposes outside the US.

There was a snippet in a comment on TOD yesterday, which said something like, prices are being surpressed in the US, because Canadian tar sands oil has nowhere to go but the US. So, that oil is depressing US prices, but not any others,

Peter.

PS_RalphW · Post by **PS_RalphW** » 14 Feb 2011, 15:18

Oil up again today. Brent just passed $103 on the BBC site

http://www.bbc.co.uk/news/business/mark ... traday.stm

TAPIS spot over $106

WTI was down again. Nobody quotes that price outside of the US now.

The next week could be critical to see if the Arab countries can put a cap on unrest. My best bet is that they can, I give them a 70% chance.

In other words, a 30% chance of an Alex Scarrow event...

RenewableCandy · Post by **RenewableCandy** » 14 Feb 2011, 15:21

RalphW wrote: ...In other words, a 30% chance of an Alex Scarrow event...

Blimey

I think I'll go and dig some compost...

PS_RalphW · Post by **PS_RalphW** » 14 Feb 2011, 15:29

Spot price just jumped a dollar in a matter of minutes.

7 grades over $100

Traders are getting nervous...

PS_RalphW · Post by **PS_RalphW** » 14 Feb 2011, 17:00

Brent now $104.

The carbon trust is facing massive cuts. I'm no fan of biofuels, but they
do a lot of work in practical energy conservation.

RevdTess · Post by **RevdTess** » 14 Feb 2011, 18:58

Ralph, out of nostalgic interest, what's the LLS premium to WTI these days?

biffvernon · Post by **biffvernon** » 14 Feb 2011, 19:47

On Friday

Louisiana Oils Reach Widest Premiums to WTI Since at Least 1991
By Aaron Clark - Feb 11, 2011 5:27 PM GMT
Light Louisiana Sweet and Heavy Louisiana Sweet crude premiums rose to the highest levels against West Texas Intermediate since at least 1991 as the U.S. benchmark fell against its European counterpart.

The spread between March-delivery WTI futures and Brent, the basis for European and West African crudes, increased $1.27 to $15.41 a barrel.

Light Louisiana Sweet’s premium strengthened 90 cents to $17.40 a barrel at 11:58 a.m. in New York, according to data compiled by Bloomberg, the widest gap since 1991 when Bloomberg began collecting the data. Heavy Louisiana Sweet’s premium to WTI increased 80 cents to $17.30.

http://www.bloomberg.com/news/2011-02-1 ... -1991.html

biffvernon · Post by **biffvernon** » 15 Feb 2011, 15:54

Louisiana Sweet Light sounds like she's worth the extra $15 over a West Texan Intermediate but here's a Canadian view:
http://www.calgaryherald.com/business/B ... story.html

RenewableCandy · Post by **RenewableCandy** » 15 Feb 2011, 18:24

I could have sworn I overheard someone asking if there was owt by Mr Scarrow in the Oxfam bookshop earlier today

Post by **adam2** » 20 Feb 2011, 11:09

RalphW wrote:The next week could be critical to see if the Arab countries can put a cap on unrest. My best bet is that they can, I give them a 70% chance.

In other words, a 30% chance of an Alex Scarrow event...

Nearly a week has passed since the above post.
What do you reckon are the present odds on containing the unrest ?