Oil Prices.

[Leekbrookgull]

Record prices for American light crude $129.24,this on top of Saudi Arabia increasing production by 300,000 barrels a day !

 

[B.M.F]

grrrr don't get me started. Costs a small fortune in gas now

 

[Leekbrookgull]

It will not get better.

 

[PrioryRoad]

$14 a barrell a decade ago...

 

[steward 433]

It's a f***ing huge OPEC conspiracy

Oil prices are gonna bring around a huge global recession and it's already started in America

 

[who me?]

It's a f***ing huge OPEC conspiracy

Oil prices are gonna bring around a huge global recession and it's already started in America

bollox 633 squadron.
the producers dont set the price or make the money.the prices quoted are prices set by the international futures market.

the commodities speculators are driving the price they will sell oil,yet to be extracted,up to guarantee an unfair profit

 

[Gully]

...the only problem is that it is a finite resource, we are now down to exploring for oil in the most inhospitable places where the costs of extracting it are greatest...QED, the price rises...don't think it is going to go back down again.

 

[ridda]

bollox 633 squadron.
the producers dont set the price or make the money.the prices quoted are prices set by the international futures market.

the commodities speculators are driving the price they will sell oil,yet to be extracted,up to guarantee an unfair profit

Yes that is the right answer its mostly down to hedge funds going long on oil.
but eventually this buble will burst [they all do]

 

[surrey jim]

does anyone remember a group a while ago (e-mail thingy) who were trying to bring down the prices etc.. used to get fortnightly e-mails.. jus realised not had one for a fair time now

i think a link was posted on here yeas ago

 

[steward 433]

does anyone remember a group a while ago (e-mail thingy) who were trying to bring down the prices etc.. used to get fortnightly e-mails.. jus realised not had one for a fair time now

i think a link was posted on here yeas ago

Yep only buy petrol/diesel from Asda' Tesco and sainsburys and the big 3 will have to drop their prices to compete

 

[steward 433]

bollox 633 squadron.
the producers dont set the price or make the money.the prices quoted are prices set by the international futures market.

the commodities speculators are driving the price they will sell oil,yet to be extracted,up to guarantee an unfair profit

That's a load of shit then so who exactly makes the lions share of the profit?

 

[acrossthepond]

That's a load of shit then so who exactly makes the lions share of the profit?

No, it's true.

The profits come in part from the high oil prices, but the fuel companies do not drive the prices higher.

Just because B follows A, doesn't mean that A causes B.

 

[Dave the OAP]

just paid 111.9p per litre at sainsburys West Hove

last week it was 108.9!!!

 

[who me?]

the government make the most in taxes
.the oil companies make a fair bit by dividing the process into extraction,refining and distribution and by manipulating the "value added"price within a largely internal market( extraction through to pump price in owned petrol stations) AND sell to other parts of the internal markets at a loss to reduce tax liability.

but the real villians are the speculators who sell future prices high having secured a guaranteed volume at a lower spot rate

 

[steward 433]

just paid 111.9p per litre at sainsburys West Hove

last week it was 108.9!!!

Oh great so for Diesel in my car it's gonna be at least £1.25 now

 

[Dave the OAP]

121.9p diesel

 

[steward 433]

121.9p diesel

This is getting way beyond a joke

Buses are just not practical for me and need the car for work anyway

Never mind i see my boss tomorrow so payrise is first item on the agenda

 

[who me?]

Record prices for American light crude $129.24,this on top of Saudi Arabia increasing production by 300,000 barrels a day !

the clue is in this post
if the opec producers are increasing volumes the price should fall.

but the spot market can only benefit futures sellers who have sold a product at a higher price

 

[Bozza]

Saw 129.9 for diesel in Brizz today.

 

[Giant Seagull]

as with these things its usually a combination of factors

Oils suffering a triple whammy at the moment all driving the price higher, much higher demand from countries like China, India- who all want to live like us, Middle Eastern instability and things like pension providers ploughing their investments into oil, because at the moment its a sure fire bet.

People have been saying £1.50 for petrol and £1.70 for diesel by the Summer

The fuel blockade 8 years ago was bought about when fuel prices reached 80p a litre!