Current Oil Price

biffvernon · Post by **biffvernon** » 20 Feb 2011, 11:27

The unrest may
1. Continue
2. Not continue

If 1. then
North Africa/Middle East may move to a situation that is
1. More Stable
2. Less stable

If 2. then
oil exports may
1. Stay the same
2. Go down

If 2. then
The global market economy may
1. Cope with it
2. Collapse

Meanwhile the traders who set oil futures prices have a lot of if/thens to factor into their thinking.

vtsnowedin · Post by **vtsnowedin** » 20 Feb 2011, 12:19

biffvernon wrote:The unrest may
1. Continue X
2. Not continue

If 1. then
North Africa/Middle East may move to a situation that is
1. More Stable
2. Less stable X

If 2. then oil exports may
1. Stay the same
2. Go down
3. become erratic X

If 3. then The global market economy may
1. Cope with it .X With much higher prices and volatility
2. Collapse

Meanwhile the traders who set oil futures prices have a lot of if/thens to factor into their thinking.

My votes.

Post by **adam2** » 21 Feb 2011, 11:13

On the BBC business pages it is stated that WTI is now at over $93, a high for the year, but other media including at the bottom of this page, give a significantly lower price of about $87.

Brent crude has just reached a high for the year.

biffvernon · Post by **biffvernon** » 21 Feb 2011, 12:26

Libya exports ~1.25mb/d mostly through Benghazi and the eastern side of the country that is now in the control of the protesters.

Aurora · Post by **Aurora** » 21 Feb 2011, 12:49

Financial Times - 21/02/11

Oil prices jumped to a two-year high above $105 a barrel as the wave of protests that has swept across the Middle East hits Libya, for the first time affecting a significant producer of crude.

Article continues ...

PS_RalphW · Post by **PS_RalphW** » 21 Feb 2011, 19:01

Testing $106. WTI is returning to the real world. Up over $5 on the
day so far. 8 spot prices over $100. I expect it to by 9 before close of
trading.

Heard the CEO of BP say their oil operations were unaffected. I saw a headline that Libyan output down by 0.1Mbpd.

Things are moving fast.

PS_RalphW · Post by **PS_RalphW** » 21 Feb 2011, 19:02

In the time I wrote the last post Brent hits 106 and WTI (future) is up $6 on the day.

raspberry-blower · Post by **raspberry-blower** » 21 Feb 2011, 20:44

Bloomberg report that Brent has breached the $108 mark - $108.30; WTI touched $95.39

http://www.bloomberg.com/news/2011-02-2 ... -east.html

biffvernon · Post by **biffvernon** » 21 Feb 2011, 20:46

While our ticker seems to have lost it's tock Did someone forget to wind it up?

Aurora · Post by **Aurora** » 21 Feb 2011, 22:28

Brent: 108.25$/barrel. Gold: 1403.00$/ounce.

emordnilap · Post by **emordnilap** » 22 Feb 2011, 09:48

biffvernon wrote:While our ticker seems to have lost it's tock Did someone forget to wind it up?

Off it goes again. Happy days.

biffvernon · Post by **biffvernon** » 22 Feb 2011, 13:25

http://www.bbc.co.uk/news/uk-england-dorset-12526271

Bandidoz · Post by **Bandidoz** » 22 Feb 2011, 13:59

biffvernon wrote:

http://www.bbc.co.uk/news/uk-england-dorset-12526271

""Whoever did it sure has a sense of humour.""

No shit sherlock!

JohnB · Post by **JohnB** » 22 Feb 2011, 15:45

Bandidoz wrote:No shit sherlock!

I don't think the price of diesel is at all funny. It's the same price as that super unleaded petrol stuff at my local garage now, where it used to be cheaper. I put in £30 worth today instead of my usual £20

.

PS_RalphW · Post by **PS_RalphW** » 23 Feb 2011, 07:44

All spot prices except WTI now over $100. Even Alaska North Slope.

TAPIS over $110.

That said, spot prices are down a bit this morning. Libya looks like it won't go into meltdown if (when) Gaddafi is kicked out.