$70 Oil Competition #2? What's your guess?

SunnyJim · Post by **SunnyJim** » 03 Apr 2007, 09:07

Blimey it looms indeed!

So where do we get the price of oil from? Are we talking light sweet crude? Brent of what? Can someone explain the finer details of the qualifying factors???

SunnyJim · Post by **SunnyJim** » 03 Apr 2007, 09:11

I notice it hit $68 last week, but it has now slipped back to $65. I guess I might just miss out!

Andy Hunt · Post by **Andy Hunt** » 03 Apr 2007, 09:44

SunnyJim wrote:I notice it hit $68 last week, but it has now slipped back to $65. I guess I might just miss out!

Which leaves my May 1st bid as next in line . . . !!!!

SunnyJim · Post by **SunnyJim** » 03 Apr 2007, 10:02

And the easter rush on travel won't do your date any harm either....

There's still time today though.... Anything could happen, especially with the Iran issue ongoing.

Andy Hunt · Post by **Andy Hunt** » 03 Apr 2007, 10:21

That's true. And if it's any time within the next 2 weeks, it will be closer to your date.

mocara · Post by **mocara** » 03 Apr 2007, 13:53

1st of May is my birthday. What a lovely present

I say 13th of May. My mum's birthday

Mocara.

Aurora · Post by **Aurora** » 03 Apr 2007, 15:54

Friday, 6th April if the rumours on the net are to be believed.

SunnyJim · Post by **SunnyJim** » 04 Apr 2007, 11:10

It's heading up! $68 now.

SunnyJim · Post by **SunnyJim** » 04 Apr 2007, 11:11

Aurora wrote:Friday, 6th April if the rumours on the net are to be believed.

Surely it's too late to make such a close call!!! Hardly fair really

PS_RalphW · Post by **PS_RalphW** » 11 Apr 2007, 17:04

I am beginning to wonder if we are looking at the wrong oil for this
competition. Texas Crude is currently $62 but our own local
Brent Crude is nearly $69! This is largely because US refineries are
struggling to keep their utilisation rates up, and there is a local
US glut of crude, and looming shortages of petrolium (by the end of the
month on current performance). I guess European refineries are
working flat out to process extra petroleum to export to the US,
hence the huge price differential.

Should we be looking at Brent Crude price instead? (in which case
my prediction would be less likely to win...)

Keela · Post by **Keela** » 11 Apr 2007, 17:54

Was there an agreement somewhere in the thread about which oil price?

Brent sounds good... I know I can find that one on BBC

mocara · Post by **mocara** » 12 Apr 2007, 01:20

BBC prices haven't been being updated for some reason. I spent a few days thinking prices had stagnated, only to find they had went down.

Post by **mikepepler** » 12 Apr 2007, 08:05

mocara wrote:BBC prices haven't been being updated for some reason. I spent a few days thinking prices had stagnated, only to find they had went down.

The definitive place to check the prices is here:
http://www.nymex.com/lsco_fut_cso.aspx

Joules · Post by **Joules** » 12 Apr 2007, 09:24

I find Bloomberg to be easier on the eye - http://www.bloomberg.com/markets/commod ... rices.html

SunnyJim · Post by **SunnyJim** » 12 Apr 2007, 09:46

And here is the brent price.

https://www.theice.com/homepage.jhtml