PowerSwitch Main Page
PowerSwitch
The UK's Peak Oil Discussion Forum & Community
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Current Oil Price
Goto page Previous  1, 2, 3 ... 229, 230, 231
 
Post new topic   Reply to topic    PowerSwitch Forum Index -> News
View previous topic :: View next topic  
Author Message
adam2
Site Admin


Joined: 02 Jul 2007
Posts: 6206
Location: North Somerset

PostPosted: Fri Oct 27, 2017 4:01 pm    Post subject: Reply with quote

Oil reaches $60 for the first time in a couple of years.
The timing of the increase seems to be linked to the Catalan independence declaration, though this might be coincidence.
I see no obvious connection between oil prices and Catalan politics.
_________________
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
Back to top
View user's profile Send private message
vtsnowedin



Joined: 07 Jan 2011
Posts: 4264
Location: New England ,Chelsea Vermont

PostPosted: Fri Oct 27, 2017 9:26 pm    Post subject: Reply with quote

WTI went above $53 in the US today. The fact that supplies dropped 33 million barrels over the last five weeks is what is pushing the price up.
Back to top
View user's profile Send private message
adam2
Site Admin


Joined: 02 Jul 2007
Posts: 6206
Location: North Somerset

PostPosted: Fri Nov 03, 2017 8:27 pm    Post subject: Reply with quote

Rather a sudden increase in oil prices over the last few hours.
Until about 17-00 Brent crude prices fluctuated within a relatively narrow band, and showed a marginal increase over yesterdays closing price.
Since then prices have climbed to over $62, a gain of about 2.5% on the day.

West Texas crude prices have also increased significantly though by a smaller percentage than Brent.

Anyone know why ? has something blown up that I have failed to notice ?
_________________
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
Back to top
View user's profile Send private message
PS_RalphW



Joined: 24 Nov 2005
Posts: 5262
Location: Cambridge

PostPosted: Fri Nov 03, 2017 10:38 pm    Post subject: Reply with quote

Most likely short covering by speculators at the close of the monthly market. More people bet on lower demand and had to buy futures at the last minute to cover their obligations. Far more oil is bought and sold than ever comes out of the ground.

Expect the price to fall close to the previous price on Monday.

Edit

Market report combines rising us exports, declining global inventory and steadily declining us rig counts to put the speculators into buying mode. The us shale oil recovery seems to be running out of steam, OPEC and Russia look likely to extend their production cap agreement, and Chinese demand is rampant
Back to top
View user's profile Send private message
vtsnowedin



Joined: 07 Jan 2011
Posts: 4264
Location: New England ,Chelsea Vermont

PostPosted: Sat Nov 04, 2017 3:50 pm    Post subject: Reply with quote

The USA supply of crude and refined products has declined 40 million barrels over the last six weeks. It is now at 1,936.6 million barrels , at the height of the glut it was well over 2,000
Back to top
View user's profile Send private message
adam2
Site Admin


Joined: 02 Jul 2007
Posts: 6206
Location: North Somerset

PostPosted: Mon Nov 06, 2017 7:08 pm    Post subject: Reply with quote

Brent crude reached $64.
Some reports suggest this is due to concerns about potential instability in Saudi Arabia. (a major anti-corruption drive is underway, which some consider to be a power struggle rather than about corruption)
_________________
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
Back to top
View user's profile Send private message
adam2
Site Admin


Joined: 02 Jul 2007
Posts: 6206
Location: North Somerset

PostPosted: Sun Nov 12, 2017 12:46 pm    Post subject: Reply with quote

Oil pipeline explosion in Bahrain, local officials blame Iran.

http://www.bbc.co.uk/news/av/world-middle-east-41959522/oil-pipeline-explodes-in-bahrain

Personally I have no idea if Iran is responsible for the explosion, but the fact that they are being blamed should sound an alarm.

Oil prices likely to rise, IMO.
_________________
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
Back to top
View user's profile Send private message
vtsnowedin



Joined: 07 Jan 2011
Posts: 4264
Location: New England ,Chelsea Vermont

PostPosted: Wed Nov 22, 2017 11:29 am    Post subject: Reply with quote

WIT futures up $1.05 to $57.88 this morning Wednesday.No reason given even though it is a slow news day.
Back to top
View user's profile Send private message
PS_RalphW



Joined: 24 Nov 2005
Posts: 5262
Location: Cambridge

PostPosted: Mon Dec 11, 2017 8:22 pm    Post subject: Reply with quote

Brent rising towards $65 after a leak shuts the largest North Sea pipeline, carrying 40% of NS oil and gas. Expected to be closed for 3 weeks. Fortunately the leak is on land, not under water.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    PowerSwitch Forum Index -> News All times are GMT + 1 Hour
Goto page Previous  1, 2, 3 ... 229, 230, 231
Page 231 of 231

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group