Current Oil Price

DominicJ · Post by **DominicJ** » 10 Aug 2011, 15:06

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...

Except they cannot be sustained on anything but oil.
Well, possibly nuclear.

But we cant replace "expensive" oil at $100 a barrel with "cheap" wind at $200 a barrel equivilant.

PS_RalphW · Post by **PS_RalphW** » 17 Aug 2011, 09:34

Brent back over $110. Clearly the markets have priced in QE3.

Dollar weaker again. What happens after QE3? They have only just
built her
http://www.youtube.com/watch?v=B4S0jFYWtjs

Must burn a lot of oil...

biffvernon · Post by **biffvernon** » 23 Aug 2011, 22:10

WTI back over $86 now, having been below $80 a couple of days ago.

biffvernon · Post by **biffvernon** » 23 Sep 2011, 22:46

And back below $80 again while Brent is $106 - a $26 difference.

snow hope · Post by **snow hope** » 03 Oct 2011, 22:39

Brent down to $100, the lowest for some time.

biffvernon · Post by **biffvernon** » 03 Oct 2011, 22:42

And our WTI ticker at $76.

PS_RalphW · Post by **PS_RalphW** » 11 Oct 2011, 20:21

And back up again, to $111. Up $11 in a week. We haven't seen a
rise like that since 2008.

There must be a lot of liquidity out there chasing a fast buck - at least £70B if I remember correctly.

biffvernon · Post by **biffvernon** » 11 Oct 2011, 20:25

With WTI at $86

PS_RalphW · Post by **PS_RalphW** » 14 Oct 2011, 14:44

Now at $114. That is up $14 in 10 days.

biffvernon · Post by **biffvernon** » 24 Oct 2011, 18:35

WTI over $90 again and Brent at $112.

Blue Peter · Post by **Blue Peter** » 25 Oct 2011, 13:59

biffvernon wrote:WTI over $90 again and Brent at $112.

What's going on? It seems to have jumped about $10 in a day; and at the same time as people are concluding that growth is going to be a problem (see Steph) and presumably Libyan oil should be back on the agenda soon.

Peter.

alternative-energy · Post by **alternative-energy** » 25 Oct 2011, 14:06

Blue Peter wrote:
biffvernon wrote:WTI over $90 again and Brent at $112.
What's going on? It seems to have jumped about $10 in a day; and at the same time as people are concluding that growth is going to be a problem (see Steph) and presumably Libyan oil should be back on the agenda soon.

Peter.

That was yesterday. Apparently, the European financial problems will be resolved tomorrow and financial growth will storm ahead.

PS_RalphW · Post by **PS_RalphW** » 07 Nov 2011, 14:43

Normally, when we get bad news on the financial front, the price of oil goes down.

Today, we are seeing Italian bond rates hit unsustainable levels at 6.66%, and oil is currently up $2.50 to $114.50. Are we seeing a flight to commodities in the face of CDS triggered Dollar collapse?

moimitou · Post by **moimitou** » 08 Nov 2011, 21:40

The price of oil is unsustainably high, are we going to have another little crash soon?

biffvernon · Post by **biffvernon** » 08 Nov 2011, 22:01

Perhaps we ought to have another competition for the date out ticker reaches 100

Only $3 off but it's not an easy call.