Current Oil Price

AutomaticEarth · Post by **AutomaticEarth** » 24 Apr 2015, 08:48

Price on the ticker up $3.10 yesterday. Are we off to the races?

Looks like it. Brent up at $65.04

Post by **kenneal - lagger** » 24 Apr 2015, 15:24

Time to fill up the red diesel and Disco tanks, methinks.

PS_RalphW · Post by **PS_RalphW** » 05 May 2015, 16:20

Brent rising steadily today, over $68. I suspect $70 by week's end.

Post by **kenneal - lagger** » 06 May 2015, 04:52

Let's hope that the price drop had already done its work and wrecked the fracking industry.

PS_RalphW · Post by **PS_RalphW** » 06 May 2015, 11:36

Brent tops $69. With the relatively low sterling to dollar rate, this is actually a lot higher than it sounds,

69 * 1.72 / 1.52 = $78 / barrel at last July's exchange rate, when oil was
$110, so we are back to 71% of the medium term price.

vtsnowedin · Post by **vtsnowedin** » 06 May 2015, 11:59

kenneal - lagger wrote:Let's hope that the price drop had already done its work and wrecked the fracking industry.

No matter how many went bankrupt during the price slump there will be others with the capital to start up again when prices get high enough. All you can hope for is a postponement and better technology to come on line before they get to fracking near your water supply.

AutomaticEarth · Post by **AutomaticEarth** » 24 May 2015, 09:55

Interesting article to appear in the Telegraph:

http://www.telegraph.co.uk/finance/news ... l-era.html

I always had this guy down as a bit of oil booster, so am surprised he's calling peak oil, not just peak cheap oil....

vtsnowedin · Post by **vtsnowedin** » 24 May 2015, 12:51

AutomaticEarth wrote:Interesting article to appear in the Telegraph:

http://www.telegraph.co.uk/finance/news ... l-era.html

I always had this guy down as a bit of oil booster, so am surprised he's calling peak oil, not just peak cheap oil....

Some people can be persuaded by the facts.

emordnilap · Post by **emordnilap** » 25 May 2015, 10:26

AutomaticEarth wrote:Interesting article to appear in the Telegraph:

http://www.telegraph.co.uk/finance/news ... l-era.html

I always had this guy down as a bit of oil booster, so am surprised he's calling peak oil, not just peak cheap oil....

Ah, at last. Still, it had to come sooner or later.

I made the mistake of scrolling down to the comments (slow day at work) and <shudder> realised again why I shouldn't, ever. I feel like I need a shower now.

oobers · Post by **oobers** » 25 May 2015, 12:59

emordnilap wrote:
AutomaticEarth wrote:Interesting article to appear in the Telegraph:

http://www.telegraph.co.uk/finance/news ... l-era.html

I always had this guy down as a bit of oil booster, so am surprised he's calling peak oil, not just peak cheap oil....
Ah, at last. Still, it had to come sooner or later.

I made the mistake of scrolling down to the comments (slow day at work) and <shudder> realised again why I shouldn't, ever. I feel like I need a shower now.

Yes. Telegraph comments are some of the grubbiest for sure. Good to see an acknowledgment of peak oil but the suggested response is hardly ideal..

More companies will follow Shell into the Arctic and it is absolutely vital to the global economy that they do.

3rdRock · Post by **3rdRock** » 29 Jun 2015, 07:38

http://www.bdlive.co.za/markets/2015/06 ... eek-crisis

Oil prices fell on Monday, with US crude dipping below $59 a barrel to an almost three-week low, after Greece imposed capital controls as lenders refused to extend the country’s bail-out.

biffvernon · Post by **biffvernon** » 03 Jul 2015, 19:38

Last month's rally seems to have faded with our ticker back to $56.93

PS_RalphW · Post by **PS_RalphW** » 04 Jul 2015, 08:49

I heard (I think on radio) that several US hedge funds would be severely dented by a Greek default. Throw in China stock market slide and Puerto Rico also declaring itself unable to pay debt, and oil is losing its appeal.

PS_RalphW · Post by **PS_RalphW** » 06 Jul 2015, 10:30

Oil down another dollar to $59 (brent).

This is the lowest for a few months, and I think it has as much to do with China's stock market troubles as Greece.

China's stock market is clearly the most rigged in the world. It had more than doubled in the last year, and then fell back by 30% in the last 3 weeks. The government directly intervened by barring senior government officials from selling stock but that hasn't been enough to stem the flow.

Chinese proverb about interesting times coming home to roost.

Little John · Post by **Little John** » 06 Jul 2015, 11:28

Whilst not seeking to downplay Chinese manipulations of their own markets, what do you think QE and all of the other various economic, political and, lest us not forget, military (in just about every corner of the globe) shenanigans enacted by Western elites has been over the last decade, if not the biggest attempt to rig markets in human history?