Current Oil Price

AutomaticEarth · Post by **AutomaticEarth** » 28 Aug 2015, 07:50

Brent up over $4 at $47.61, stock and shares around the world surging. Guess we'll see fuel up around 2-4p at the pump this weekend....

AutomaticEarth · Post by **AutomaticEarth** » 28 Aug 2015, 18:16

Brent up to over $50. Talk about volatile......

PS_RalphW · Post by **PS_RalphW** » 31 Aug 2015, 21:36

Brent back over $53. It topped $54 earlier after dropping to $49 this morning.

That is 10% trough to peak.

Tarrel · Post by **Tarrel** » 01 Sep 2015, 21:54

Prices heading south again. Brent down nearly 10% today.

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

PS_RalphW · Post by **PS_RalphW** » 03 Sep 2015, 16:24

WTI rising sharply ($2 in 2 hours) on rumours of more ECB QE.

Brent also up.

The market is still all over the place.

AutomaticEarth · Post by **AutomaticEarth** » 06 Sep 2015, 21:18

I can imagine this might send the oil price up tomorrow:-

http://www.telegraph.co.uk/finance/1184 ... epens.html

Post by **adam2** » 08 Sep 2015, 21:10

Oil up by nearly 4% today, not IMHO linked to rumours of Russia/OPEC co-operation, more likely the latest Turkey/Iraq flare up.
http://www.bbc.co.uk/news/world/middle_east

Post by **kenneal - lagger** » 09 Sep 2015, 03:56

Isn't the ME complicated enough without Kurds having a pop at Turks and Turks retaliating. You would think that the Turkish Kurds would have more sense when thousands of their compatriots are seeking refuge in the country.

PS_RalphW · Post by **PS_RalphW** » 16 Sep 2015, 16:36

Brent tops $50 once more on declining US oil storage.

Seems bit of an over-reaction to me.

Too much cash chasing too little profit as the global economy hits the limits to growth.

Normally too much cash generates inflation, but in the hands of the super-rich it just chases its own tail and triggers a deflationary spiral and stagnation of the real economy.

UK inflation back to zero.

PS_RalphW · Post by **PS_RalphW** » 07 Oct 2015, 03:13

Brent jumps nearly $3. Number of active US drilling rigs has started falling sharply again, to a 5 year low, as more shale oil drillers throw in the towel and await the fire sales.

emordnilap · Post by **emordnilap** » 07 Oct 2015, 10:19

United States Will Be Net Exporter of Natural Gas by 2017

The nation’s total dry natural gas production is projected to increase by 29 percent over the next five years, paralleling the growth in demand.

Video here.

Got to keep up the façade.

AutomaticEarth · Post by **AutomaticEarth** » 08 Oct 2015, 21:33

Brent up nearly $2 - guess the Russians bombing Syria has helped push up the price a bit? I guess they won't be complaining then.

Post by **clv101** » 08 Oct 2015, 22:31

I wonder how sensitive the oil price (and with it Russia's balance of payments) is to Russian military activity. If, for example they sent a few hundred cruse missiles straight over Iran from the Caspian into... Saudi oil infrastructure. Well, world war three would probably start!

But I wonder how little they could do such that the oil price would rise significantly without anything particularly serious happening to Russia?

AutomaticEarth · Post by **AutomaticEarth** » 13 Oct 2015, 10:40

clv101 wrote:I wonder how sensitive the oil price (and with it Russia's balance of payments) is to Russian military activity. If, for example they sent a few hundred cruse missiles straight over Iran from the Caspian into... Saudi oil infrastructure. Well, world war three would probably start!

But I wonder how little they could do such that the oil price would rise significantly without anything particularly serious happening to Russia?

Yes, good points, especially considering a few Russian cruise missiles landing in Iran. Whatever everyone's motives, oil took another dive yesterday, back down to around $50 Brent. It makes you wonder if oil will take another leg downwards if the ME takes a break, and with the US driving season now over?

biffvernon · Post by **biffvernon** » 13 Oct 2015, 17:54

I think the short term wobbles in the price are just part of the chaos of the market. 'Analysts' are quick to attach explanations for every dollar up or down, yet have a poor track record of forecasting a fifty dollar change up or down.