I think that it's Brent which has fallen below $50. The ticker below reports on WTI, though?jmb wrote:Sky News calls $50 oil @ 1.40pm.
Also on Reuters.
Ticker here reading $52.08.
We're saved!
Peter.
Current Oil Price
Moderator: Peak Moderation
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Blue Peter
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On the Radio 4 news they've just announced that "oil has dropped below $50pb". That particular price reminded me of a Reuters article from Sept.RalphW wrote:The ticker is about 30-60 minutes out of date. I've seen online price of $50.22, it might have dipped lower.
Ouch! (though presumably only temporary pain).The price of Russia's main crude, Urals URL-E, has fallen by over 20 percent in the past two months to around $104 a barrel, though it still above the $82 rate factored into the current government budget.
"I don't think that ($82) it is too optimistic. But still we have enough reserve in our budget if the oil price drops to $50-60," Pankin said at the Reuters Russia Investment Summit.
Cue second opec cut coming to a planet near you before the end of November. Another 1.5mbd off supply anyone? Turns out we didn't need it after all.
We're now at $49. Another few dollars and it'll be lower than I've personally ever seen it since I started following the oil market. (It was low $40s).
For what it's worth, if you want oil delivered in December 2014, you'd still have to pay $82, whereas in 2004 that price would have been nearer $20. The difference between prompt oil and deferred oil is getting wider and wider all the time.
We're now at $49. Another few dollars and it'll be lower than I've personally ever seen it since I started following the oil market. (It was low $40s).
For what it's worth, if you want oil delivered in December 2014, you'd still have to pay $82, whereas in 2004 that price would have been nearer $20. The difference between prompt oil and deferred oil is getting wider and wider all the time.
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PowerSwitchJames
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I can't believe how much time I just spent "playing" at that webpage. Jeeez, what happened to my life?skeptik wrote:http://www.andyfoulds.co.uk/amusement/economists.htm
"If we don't change our direction, we are likely to wind up where we are headed" (Chinese Proverb)
Point taken then?Erik wrote:I can't believe how much time I just spent "playing" at that webpage. Jeeez, what happened to my life?skeptik wrote:http://www.andyfoulds.co.uk/amusement/economists.htm
"When the facts change, I change my opinion. What do you do, sir?"
John Maynard Keynes.
John Maynard Keynes.
Oil prices have tumbled by more than $5 a barrel after producers' group Opec declined to cut output at its informal meeting at the weekend.
Extending recent falls, US light crude was down $5.15 to $49.28 a barrel, while Brent was $5.52 lower at $47.97.
Monday, 1 December 2008
http://news.bbc.co.uk/1/hi/business/7758129.stm
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Aurora
BBC News - 03/12/08
Oil prices have risen on Wednesday after falling more than $100 from July's peaks, but upcoming oil demand data may limit the growth.
US light, sweet crude gained 88 cents to $47.84 a barrel. Brent crude rose 56 cents to $46.00.
Qatar said Opec would cut output at its meeting on 17 December after not doing so last weekend.
Article continues ...
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RGR
Excellent. Are we considering voting for changing the title of the thread before the irony just gets to be too much?Aurora wrote:BBC News - 03/12/08
Oil prices have risen on Wednesday after falling more than $100 from July's peaks, but upcoming oil demand data may limit the growth.
US light, sweet crude gained 88 cents to $47.84 a barrel. Brent crude rose 56 cents to $46.00.
Qatar said Opec would cut output at its meeting on 17 December after not doing so last weekend.
Article continues ...