243 replies to this topic

[halight]

G0ldfinger, on 22 February 2012 - 05:49 PM, said:

$123 a couple of hours ago.

GF, what sort of price are you looking for if war breaks out ? $150 maybe ? or more ?

[halight]

Oil prices in sterling hit record high

http://www.ft.com/cm...l#axzz1n8dSd2Wp

[Carlton]

Quote

Brent rallied to £78.48 a barrel, passing the previous all-time high of £77.71 a barrel set in April last year at the peak of the Libyan civil war supply disruption. In euro terms, the oil benchmark reached a three-year high of €92.70 a barrel, a fraction below the peak of €93.50 a barrel set in July 2008.

http://www.ft.com/in...l#axzz1nBaL1nHN

EDIT: As just posted by halight.

[G0ldfinger]

halight, on 22 February 2012 - 06:34 PM, said:

GF, what sort of price are you looking for if war breaks out ? $150 maybe ? or more ?

My guess is that the PPT (Plunge Protection Team) would first shelve out a good amount of paper oil. Then people would call it, and the price would explode. $150-$200 no problem, on a knee-jerk reaction. After that one would have to see what the real impact is, but it could serve as a nice trigger for stubbornly high post-peak prices that will never go away again.

[G0ldfinger]

$124.

Where's my $20 oil gone? Deflationistas? Anti-peakers?

[desertorchid]

halight, on 22 February 2012 - 06:34 PM, said:

GF, what sort of price are you looking for if war breaks out ? $150 maybe ? or more ?

$124. Can anyone enlighten me as to why there is such a disparity between US light and Brent Crude and why one may move significantly whilst the other stands still? Who is buying and why are the dynamics different in the two markets? Thanks

[G0ldfinger]

desertorchid, on 23 February 2012 - 11:14 AM, said:

$124. Can anyone enlighten me as to why there is such a disparity between US light and Brent Crude and why one may move significantly whilst the other stands still? Who is buying and why are the dynamics different in the two markets? Thanks

Canadian oil sands and Dakota. Apparently the arbitrage does not work between WTI and Brent (due to transportation issues?). Iran therefore mostly impacts Brent. Disclosure: my oil calls are Brent only.

[G0ldfinger]

$125.

[callmejoe]

This is what is holding up the oil price:
http://www.veteranst...l-busted-again/

Quote

Then the Ukrainians said that there was a “deal” cut between parties in Iran and parties in Israel to “pretend to have a war,” just like in the story above, you remember, the one about the 1973 War.

The deal was, Israel would buy “oil futures.” Oil was cheap, currencies were collapsing, markets going down and, if for some reason, oil went up, Israel would make billions.

So would Iran.

So, if you wonder why you hear endless implausible stories about bombings and threats while everyone seems to be laughing themselves all the way to the bank, you are beginning to understand.

Not just that, Bahrain, Qatar, Saudi Arabia, Iraq, the UAE, Kuwait and others are raking in the bucks also.

[G0ldfinger]

callmejoe, on 28 February 2012 - 09:17 PM, said:

This is what is holding up the oil price:
http://www.veteranst...l-busted-again/

Now it's all starting to make sense. And if we see any bombs falling, it'll be just as fake as the moon landing.

[desertorchid]

Governements want to tell you the truth

My gut instinct is to not let the G20 anywhere near this.

I get images of Winston Smith waking up to hear oil prices down. Then wondering is his new found confidence misguided? What role did the government play in bringing him this news?

Scary

[halight]

HSBC Says Oil Replaces Greece as Threat to Economic Growth, Asset Values

http://www.bloomberg...set-values.html

[halight]

Petrol price hits record high

The average price of unleaded petrol has reached a new high of 137.44p per litre, according to industry analysts Experian Catalist.

That just exceeds the average of 137.43p reached in May 2011.

http://www.bbc.co.uk...siness-17231140

[halight]

Iran Sanctions May Already Be Cutting Crude Flow as Ships Cancel Voyages


U.S. and European sanctions designed to pressure Iran over its nuclear program may be cutting the Persian Gulf nation’s oil exports as vessels cancel trips to the country.

http://www.bloomberg...el-voyages.html

[halight]

Oil Rises From Two-Week Low as Greek Debt Swap Bolsters European Optimism


Oil rose from a two-week low as more investors signed on to a Greek debt swap, reducing concern that the country will default and bolstering optimism that the European economy will rebound.

http://www.bloomberg...y-increase.html


Brent oil for April settlement increased $1.71, or 1.4 percent, to $123.69 a barrel on the London-based ICE Futures Europe exchange.

Crude oil for April delivery rose $1.39, or 1.3 percent, to $105.09 a barrel at 1:01 p.m. on the New York Mercantile Exchange. Prices are up 7.3 percent this year.

[halight]

Oil Drops From Three-Week High on Speculation of Supply

http://www.bloomberg...g-supplies.html








Saudi Arabia Can Raise Output 25% If Needed, Naimi Says

http://www.bloomberg...naimi-says.html

[halight]

China raises fuel prices for second time in a month



China has raised the price of petrol by about 6% and diesel about 7% for the second time in 2012, as it struggles with the rising cost of crude oil.

http://www.bbc.co.uk...siness-17441176

[halight]

Oil price worries for Bank of England rate setters


http://www.bbc.co.uk...siness-17455715

[halight]

Oil prices ease but remain above $120 a barrel

Crude oil prices have retreated after earlier gains, but prices remain above $120 a barrel.


http://www.bbc.co.uk...siness-17458356

[halight]

Oil Falls as U.S. Says SPR Release Being Considered


http://www.bloomberg...in-of-0-4-.html


Oil declined after a top Energy Department official said the U.S. may release oil from the Strategic Petroleum Reserve.