Current Oil Price

DominicJ · Post by **DominicJ** » 05 Aug 2011, 08:49

I sell my ****ing car and the oil price loses 20%

An Inspector Calls · Post by **An Inspector Calls** » 05 Aug 2011, 09:43

Perhaps if you bought a FWD we might have a mild winter for a change!

DominicJ · Post by **DominicJ** » 05 Aug 2011, 09:48

I'm accepting donations

Totally_Baffled · Post by **Totally_Baffled** » 08 Aug 2011, 20:01

Ticker cannot keep up - we are now at $81!

ziggy12345 · Post by **ziggy12345** » 09 Aug 2011, 08:49

kenneal wrote:I think a more likely progression would be

$150
$200
$150
$100
$50

as we hit another recession.

Maybe not the $50 this time, though. Maybe only $70.

Posted April 6th... Nice one Ken

biffvernon · Post by **biffvernon** » 09 Aug 2011, 11:49

It went down to $75 earlier this morning and then up again to 78.

the_lyniezian · Post by **the_lyniezian** » 09 Aug 2011, 23:21

Must be a sign I haven't been on here for ages and suddenly notice the oil price is now below $80/barrel- surely they're joking right?

Post by **kenneal - lagger** » 10 Aug 2011, 03:00

No! The realisation that the economic outlook for the west is that bad is finally being acknowledged.

And thanks Ziggy, although I was way out with the $150 and £200.

PS_RalphW · Post by **PS_RalphW** » 10 Aug 2011, 09:56

Yes it is clear that the oil intensive Western economies cannot sustain oil prices much above $100 for very long. Clearly the answer is to reduce dependancy on oil and its products...

UndercoverElephant · Post by **UndercoverElephant** » 10 Aug 2011, 10:53

the_lyniezian wrote:Must be a sign I haven't been on here for ages and suddenly notice the oil price is now below $80/barrel- surely they're joking right?

It's not just oil. There has just been a massive rout of all consumable commodities. Everything from copper to coffee has just lost 5-10% of its value. Even silver went down, because of an expected decline in industrial usage. Only one metal went up - the one that isn't a commodity at all.

UndercoverElephant · Post by **UndercoverElephant** » 10 Aug 2011, 10:55

RalphW wrote:Yes it is clear that the oil intensive Western economies cannot sustain oil prices much above $100 for very long. Clearly the answer is to reduce dependancy on oil and its products...

Oil goes up. Economy tanks. Oil goes down. Economy gets a boost, raising consumption. Oil goes up. Economy tanks. Oil goes down....

moimitou · Post by **moimitou** » 10 Aug 2011, 14:09

How long do you think this "bumpy plateau" will last?

emordnilap · Post by **emordnilap** » 10 Aug 2011, 14:24

moimitou wrote:How long do you think this "bumpy plateau" will last?

The rest of your life.

UndercoverElephant · Post by **UndercoverElephant** » 10 Aug 2011, 14:57

moimitou wrote:How long do you think this "bumpy plateau" will last?

No more than five years, probably less.

UndercoverElephant · Post by **UndercoverElephant** » 10 Aug 2011, 14:58

emordnilap wrote:
moimitou wrote:How long do you think this "bumpy plateau" will last?
The rest of your life.

Well, the bumps will last for the rest of our lives. Not so sure about the plateau.