Current Oil Price

emordnilap · Post by **emordnilap** » 07 Nov 2007, 12:14

RalphW wrote:You saw it here first - $100 oil. (Tapis spot crude)

Do you have a link for that, please?

biffvernon · Post by **biffvernon** » 07 Nov 2007, 12:43

RenewableCandy wrote:
SunnyJim wrote:Tapis? What's that?
It's a type of cafe in Spain.

Or, less tasty, the East Asian benchmark light crude named after the Tapis field, Malaysia.

Erik · Post by **Erik** » 07 Nov 2007, 12:55

Well, speaking of "Tapis" (!) and "oil prices":

Huge rise in the price of basic foodstuffs in Spain

What many housewives have known already has now been confirmed by the official data. There has been a spectacular rise in the price of many basic foodstuffs over the past year.
Onions are now 22% more expensive, while milk and chicken is 18.3% higher. It comes following the increase in cereal prices over the recent months, according to the Ministry for Industry, Tourism and Commerce.
The only item now far cheaper than a year ago is olive oil, now down 18.77% in price.

From here

PS_RalphW · Post by **PS_RalphW** » 07 Nov 2007, 13:17

emordnilap wrote:
RalphW wrote:You saw it here first - $100 oil. (Tapis spot crude)
Do you have a link for that, please?

Sorry, forgot

http://www.upstreamonline.com/market_da ... kets_crude

RenewableCandy · Post by **RenewableCandy** » 07 Nov 2007, 14:00

They must be getting desperate: I've just been sent this:

------------------------------------------------------------------------
Department for Business, Enterprise & Regulatory Reform(formerly DTI)
------------------------------------------------------------------------

07 Nov 2007 11:54
Lucky number?

13th licensing round opens for onshore oil and gas exploration.

http://www.wired-gov.net/wg/wg-wlabel-d ... 8C0041911D

The Department for Business Enterprise and Regulatory Reform (BERR) today announces the launch of the 13th onshore oil and gas licensing round. This comprises all previously unlicensed areas of the UK above the low water mark - the point of the tide that marks the boundary between the offshore sea area and the onshore (landward area) - covered by the Strategic Environmental Assessment (SEA).

Apparently the last one was in 2004.

SILVERHARP2 · Post by **SILVERHARP2** » 07 Nov 2007, 14:02

One of the main stories on the national news today is the IEA saying they are worried about supply and depletion rates from 2012, they want govs to get their finger out. They are disappointed about their own forecasts since 2002. Doh! could of told them that a few years back

Andy Hunt · Post by **Andy Hunt** » 07 Nov 2007, 14:20

They will blame it on lack of investment.

Oh, and saying they are worried about 2012 onwards means they are worried right now. What has prompted this?

Horse. Stable door. Bolt.

RevdTess · Post by **RevdTess** » 07 Nov 2007, 15:47

US inventory stats were down, but not dramatically so. Not enough to push us over $100 I think. At least, not today.

snow hope · Post by **snow hope** » 07 Nov 2007, 17:24

Well thats got to be slightly good news, but I don't think it will hold back the tide........ there are just too many things working towards raising the oil price and very few working against it.

Post by **mikepepler** » 08 Nov 2007, 10:56

U.S. oil group ConocoPhillips said on Thursday that it would shut down platforms producing 140,000 barrels per day at the Ekofisk field in the Norwegian part of the North Sea due to a storm.

http://uk.reuters.com/article/oilRpt/id ... 0620071108

biffvernon · Post by **biffvernon** » 08 Nov 2007, 12:16

That storm is real enough. 105mph gust recorded at North Rona. 25 foot waves over a large area.

But it'll pass.

Keela · Post by **Keela** » 21 Nov 2007, 07:34

$98.74 on oil-price.net

Can't believe this thread had dropped to the second page of "News"!

RevdTess · Post by **RevdTess** » 21 Nov 2007, 08:24

It's back now though!

US weekly inventory numbers come out today 3:30pm our time. The market is expecting a small build in crude oil stocks, but a drop in distillate (diesel, heating oil) stocks. If the numbers come out even slightly bullish, I've no doubt the market will go to $100 today...

Post by **mikepepler** » 21 Nov 2007, 08:31

We had a new overnight record above $99

snow hope · Post by **snow hope** » 21 Nov 2007, 08:52

Tess wrote:It's back now though!

US weekly inventory numbers come out today 3:30pm our time. The market is expecting a small build in crude oil stocks, but a drop in distillate (diesel, heating oil) stocks. If the numbers come out even slightly bullish, I've no doubt the market will go to $100 today...

Agreed and I think mocara is about to win the $100 oil competition.