Current Oil Price

biffvernon · Post by **biffvernon** » 23 Aug 2012, 07:12

Or because one butterfly couldn't think of a better place to put her money and the rest of the herd followed. Within limits, the market is a chaotic system.

Post by **adam2** » 23 Aug 2012, 08:26

kenneal - lagger wrote:Is the price going up because traders are optimistic about world trade prospects or because the are very, very sceptical about world oil supplies at a time when the economy looks to be tanking?

I think that price increase is due to slight optimisism re the world economy, and concerns about a possible new ME conflict.

I dont think that near term prices are much influenced by depletion, in the VERY NEAR term there is a reasonable supply of oil.
Some OPEC nations are still believed to be restricting supply to support prices.
USA production is inceasing, I very much doubt that it will surpass the peak reached some years ago, but it will certainly offset SOME of the declines elswhere.

emordnilap · Post by **emordnilap** » 23 Aug 2012, 12:35

As expected, there are increasing numbers of stories in the media (just looking at the Irish stuff) about the 'pain' motorists are feeling and about proposed extra subsidies for haulage firms. The people who use the most complain the most. Funny that.

biffvernon · Post by **biffvernon** » 23 Aug 2012, 12:35

WTI at $98 and Brent at $117. It's all chaos.

Post by **adam2** » 14 Sep 2012, 10:57

WTI hovering around $100 again, presumably due to ME unrest and/or qauntitive easing leading to inflation.
An increase to the round figure of $100 will make more headlines than other increases.

Brent crude is arguably more representitive and is well over $110, but the WTI price is widely qouted when a reference is made simply to "the oil price" without stating what grade of oil in what location is being refered to.

biffvernon · Post by **biffvernon** » 19 Sep 2012, 19:12

On Monday the price dropped $4 in four minutes, the fastest drop ever, and there was discussion to no avail as to the reason. Fat fingers, a big player caught out on a contract expiry...

Today there's been a further $4 drop. $91 for WTI, $108 for Brent

Chaotic system.

emordnilap · Post by **emordnilap** » 28 Sep 2012, 16:12

$50 oil

PS_RalphW · Post by **PS_RalphW** » 28 Sep 2012, 16:34

emordnilap wrote:$50 oil

fruitcake.

Only collapse of the Euro will bring back $50 oil, and then only briefly.

emordnilap · Post by **emordnilap** » 28 Sep 2012, 16:35

I just thought you might need a chuckle on a Friday afternoon.

biffvernon · Post by **biffvernon** » 28 Sep 2012, 19:53

Vince Stanzione is betting on lower oil prices in the next 5 years

I wonder what 'betting' means? Is he willing to comit to sell oil at $50 in five years? I'm sure he'd get plenty of takers at $60 so able to make a fortune.

raspberry-blower · Post by **raspberry-blower** » 28 Sep 2012, 21:46

biffvernon wrote:
Vince Stanzione is betting on lower oil prices in the next 5 years
I wonder what 'betting' means?

He's probably got an each-way bet on it

PS_RalphW · Post by **PS_RalphW** » 04 Oct 2012, 19:36

Somebody is spooking the market. Down $4 one day, bounce back $4 today...

vtsnowedin · Post by **vtsnowedin** » 08 Oct 2012, 12:43

Could it be that Romney winning the first debate changed the markets perception of their future prospects?

emordnilap · Post by **emordnilap** » 08 Oct 2012, 12:54

vtsnowedin wrote: Could it be that Romney winning the first debate changed the markets perception of their future prospects?

I can believe it.

vtsnowedin · Post by **vtsnowedin** » 08 Oct 2012, 15:52

emordnilap wrote:
vtsnowedin wrote: Could it be that Romney winning the first debate changed the markets perception of their future prospects?
I can believe it.

It will be interesting to watch the market after the next two debates. I expect the Dems to make a comeback in at least one of them so I'll be looking for a crude price bounce the week after.