Current Oil Price

[adam2]

Brent crude closed at $88-99 on Friday, only a modest increase on recent prices, but still a new record for this calendar year.

[adam2]

I expect oil to increase in price.
The perennial Israel/Palestine conflict has escalated significantly. Neither country involved has significant oil reserves , but regional instability is likely and the conflict may spread to oil producing nations.
Israel has the Bomb, and some helpful country might supply one to the Palestinians.

[BritDownUnder]

Yes things seem to have taken off in the "Holy Land" again. I expect they were getting jealous about Ukraine getting all the attention.

Seems like big hostage raid has been carried out. A bit like the slave raids they used to carry out even as far as the British isles. I recall one in Ireland in the 17th century at a place called Baltimore.

Someone in the IDF got caught with their pants down.

[adam2]

Oil rises by about 5% in very early morning trade.

[adam2]

Brent crude remains at around $80, as has been the case for some months.
With TWO wars underway in or near oil producing regions, I find this very surprising. Russian oil has returned to the market despite sanctions. At least two loopholes exist, either shipping crude oil via china or refining it in russia and shipping the refined products to the UK.

[clv101]

Reminds me of a time when I had to rely on emergency diesel during a power outage. Preparedness is key, just like considering long-term investments for stability.

Just when was that?

[northernmonkey]

None of which is a problem for me on my diesel motorcycle that does 160mpg and can, in a pinch, run on pretty much anything that burns and can be pushed down a pipe.

Just saying....

[BritDownUnder]

I just drive an electric car and don't worry about the price when I fill up but I still get all the other oil related costs.

Interesting about the Russian oil loopholes. I thought they had just banned the export of refined products due to shortages.

[mr brightside]

None of which is a problem for me on my diesel motorcycle...

What bike is that?

[northernmonkey]

None of which is a problem for me on my diesel motorcycle...

What bike is that?

Enfield Bullet rebuild. Was a petrol single cylinder 500cc. It's now a diesel single cylinder 498cc. Much lower horsepower as a consequence however. The petrol 500 was 27hp. The diesel is 13hp. Top speed of around 55mph. Cruises at around 40mph. The main advantage, which is why I built it, is the mpg.

[clv101]

There are thoughts to increase e-bike power from 250W to 500W, and allowing 'throttles' - but the assisted speed remains at 15.5mph.
https://www.globalcyclingnetwork.com/ge ... -throttles

For regular users, this is essentially pointless. 250W is plenty. However for cargo bikes this could be useful. I have a regular e-bike and a e-cargo bike which I use to take two children to school on. 250W is okay, on my very hilly route, but my kids only weigh about 60 kg and I'm pretty fit. With 100kg, a lesser rider and 250W would struggle. I expect this is motivated by two things - commercial delivery companies in urban area asking for more power and the Government realising they can act independently to EU.

However, if approved as currently described it'll be both different to the EU and the US... which will be a pain for the industry and risks manufactures just not bothering with the weird high power, low speed UK standard.

What are e-bike regs in Australia?

[mr brightside]

...but the assisted speed remains at 15.5mph.

The assisted speed is easily adjustable, and suitable for those of us undergoing a midlife crisis i might add. I was coming through Ilkley at 22mph one sunday afternoon, turning a tall gear with a tailwind, when suddenly i heard the unmistakable sound of approaching poodle rock. What flew past me at well over 30mph was a middle aged bloke on one of those ebikes with the fat tyres on 14" rims, wasting his batteries by blasting Bon Jovi out at full volume.

[BritDownUnder]

What are e-bike regs in Australia?

Same as the EU. 250 watts and 25km/hr top speed or motor assist cut off to be more accurate.

I think that 750 watt (Chinese watts maybe) can be bought online. I have thought about buying but would be suicidal to ride on country roads here. An electric mountain bike would be interesting though - with fat 4 inch tyres.

[adam2]

Brent crude rose very slightly in early morning trading and has since fallen to below Friday nights closing price. This I find very surprising in view of ongoing events in the Middle East.

[BritDownUnder]

It might be because of Iran's oil only going to a specific market and not affecting the world oil price too much.

Or because oil producers have to actually produce oil to 'pay the bills' and while they can reduce production a bit to manipulate the price if they cut off production altogether in many cases their populations begin to starve and the leaders get hung from lamp posts.