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Current Oil Price
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vtsnowedin



Joined: 07 Jan 2011
Posts: 4281
Location: New England ,Chelsea Vermont

PostPosted: Mon Dec 05, 2016 2:55 pm    Post subject: Reply with quote

WTI is going to open this morning at above $52 a barrel.
I find that surprising considering the election results in Italy.
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adam2
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Joined: 02 Jul 2007
Posts: 6219
Location: North Somerset

PostPosted: Sat Dec 10, 2016 8:30 pm    Post subject: Reply with quote

"Non OPEC states agree to cut oil output"

If they actually do cut output, then this could be interesting !

Personally, I hope that they DO cut output, but not too drastically. I would prefer oil prices higher than at present, but not so dramatically higher as to cause excessive economic shocks.

http://www.bbc.co.uk/news/business-38276667
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PS_RalphW



Joined: 24 Nov 2005
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Location: Cambridge

PostPosted: Fri Dec 30, 2016 8:07 am    Post subject: Reply with quote

Looks like oil is going to end the year on the annual high at over $57.
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kenneal - lagger
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Joined: 20 Sep 2006
Posts: 9822
Location: Newbury, Berkshire

PostPosted: Fri Dec 30, 2016 1:42 pm    Post subject: Reply with quote

adam2 wrote:
"Non OPEC states agree to cut oil output"

If they actually do cut output, then this could be interesting !

Personally, I hope that they DO cut output, but not too drastically. I would prefer oil prices higher than at present, but not so dramatically higher as to cause excessive economic shocks.

http://www.bbc.co.uk/news/business-38276667


Bring on the economic shocks! They are the only thing, at present, that is going to drop the output of CO2 into the atmosphere.
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Little John



Joined: 08 Mar 2008
Posts: 5667
Location: UK

PostPosted: Fri Dec 30, 2016 2:18 pm    Post subject: Reply with quote

Yes, backs against walls is the only thing that is going to stop the otherwise inexorable, self-destructive onward march of humans.

Last edited by Little John on Tue Jul 25, 2017 10:42 pm; edited 1 time in total
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PS_RalphW



Joined: 24 Nov 2005
Posts: 5267
Location: Cambridge

PostPosted: Tue Jul 25, 2017 10:34 pm    Post subject: Reply with quote

Oil up over $2 to over $50 a barrel, first time for a couple of months. Not sure why.
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raspberry-blower



Joined: 14 Mar 2009
Posts: 1453

PostPosted: Wed Jul 26, 2017 10:56 am    Post subject: Reply with quote

PS_RalphW wrote:
Oil up over $2 to over $50 a barrel, first time for a couple of months. Not sure why.


Maybe this has something to do with it
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adam2
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PostPosted: Fri Jul 28, 2017 5:19 pm    Post subject: Reply with quote

Well over $52 now Smile
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stumuz1



Joined: 07 Jun 2016
Posts: 15
Location: Anglesey

PostPosted: Sat Jul 29, 2017 10:26 am    Post subject: Reply with quote

Some comments on future oil price and its implications.

https://www.youtube.com/watch?v=htZTb-MILjA

The salient bit starts at 1hour 48min.
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kenneal - lagger
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PostPosted: Tue Aug 01, 2017 1:27 pm    Post subject: Reply with quote

Back down to $47 now and just gone up to $50 in the time it has taken me to write this!! Volatile?
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stumuz1



Joined: 07 Jun 2016
Posts: 15
Location: Anglesey

PostPosted: Tue Aug 01, 2017 4:19 pm    Post subject: Reply with quote

A i bots, ken!
They keep mining!

http://www.zerohedge.com/news/2017-08-01/worlds-scary-place-one-trader-notes-ai-bots-dont-care-how-you-feel
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johnhemming2



Joined: 30 Jun 2015
Posts: 1976

PostPosted: Tue Aug 01, 2017 4:31 pm    Post subject: Reply with quote

The index funds are sufficiently irrational (ie they buy what everyone else is buying thereby driving up the price).

On top of that are various other trading systems (human or otherwise) not based upon fundamentals.
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PS_RalphW



Joined: 24 Nov 2005
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PostPosted: Sat Aug 19, 2017 10:47 am    Post subject: Reply with quote

Brent rose sharply at 4pm yesterday by £1.80. Not sure why the jump, maybe it was short covering. Global production is still high, but demand, especially in the US is at record levels as people drive on holiday in their shiny new SUVs.

The production recovery in Nigeria and especially Libya won't last for ever. Iranian production is still rising towards pre-sanctions levels, and US shale production is also rising, although still below levels 12 months ago and not as fast as in the days of $100 oil. A lot of people are going to lose a lot of money they sank into shale if the price does not rise further.
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kenneal - lagger
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Joined: 20 Sep 2006
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Location: Newbury, Berkshire

PostPosted: Sat Aug 19, 2017 11:02 am    Post subject: Reply with quote

stumuz1 wrote:
A i bots, ken!
They keep mining!

http://www.zerohedge.com/news/2017-08-01/worlds-scary-place-one-trader-notes-ai-bots-dont-care-how-you-feel


I am now certain that we need a Transaction Tax on the City perhaps coordinated with the EU (Sacrilege??). We have a Gambling Tax on Betting Shops so why not on an even bigger gambling den?
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emordnilap



Joined: 05 Sep 2007
Posts: 13974
Location: Houǝsʇlʎ' ᴉʇ,s ɹǝɐllʎ uoʇ ʍoɹʇɥ ʇɥǝ ǝɟɟoɹʇ' pou,ʇ ǝʌǝu qoʇɥǝɹ˙

PostPosted: Tue Aug 22, 2017 9:54 am    Post subject: Reply with quote

kenneal - lagger wrote:
stumuz1 wrote:
A i bots, ken!
They keep mining!

http://www.zerohedge.com/news/2017-08-01/worlds-scary-place-one-trader-notes-ai-bots-dont-care-how-you-feel


I am now certain that we need a Transaction Tax on the City perhaps coordinated with the EU (Sacrilege??). We have a Gambling Tax on Betting Shops so why not on an even bigger gambling den?



The chances!

It's something practically every ordinary person (apart from Telegraph readers) would welcome. It shouldn't be necessary but for the failure of government.
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