Oil

[hwsteele]

So does it look like oil will hit about $120-$125 a barrel before it makes a move down to below $20.00 a barrel?

 

[tar]

So does it look like oil will hit about $120-$125 a barrel before it makes a move down to below $20.00 a barrel?

under 20 $ ?! under 80 yeah maybe but not under 20 atleast not soon , can u imagine what will happen to oil rices if anything happen in Saudia Arabia 300 $ is not far away ...

 

[Black Swan]

IMHO it will stay above $100 for a very long time...perhaps our lifetime?

 

[Black Swan]

under 20 $ ?! under 80 yeah maybe but not under 20 at least not soon , can u imagine what will happen to oil prices if anything happen in Saudia Arabia 300 $ is not far away ...

Saudi Royalty introduced a welfare and good will package of $50bl yesterday, if that shoe drops (Libya style) we may as well down tools. I'd agree with you, a spike up to $200+ would happen..

 

[meanreversion]

Disagree with this. There's a glut of oil in the US, hence the massive spread between WTI and Brent. There is no shortage of oil in the tar sands in Canada.. if oil stays at these levels, it becomes worthwhile extracting more.

Now, the difficulty is in getting the oil from the US to here.. watch out for the pirates. If we hadn't decommissioned our Navy, we could go out and shoot the f***ers, although that's probably an infringement of their human rights.

I'm getting f***ing sick of this country's attitude now. The world's going to hell, we're drowning in debt, and what do we do? Sell off our fighters and aircraft carriers, and increase the money we give to foreign dictators, sorry, I mean foreign aid.

HMS Cumberland won't dock in Libya because it's "not safe".. what the f---ing f--- ????!??!?!???

 

[meanreversion]

Yes, we are sacking fighter pilots here, in order to have more money to give to the Indians that they might spend it on their space program.

You couldn't make this sh1t up.

 

[Black Swan]

Disagree with this. There's a glut of oil in the US, hence the massive spread between WTI and Brent. There is no shortage of oil in the tar sands in Canada.. if oil stays at these levels, it becomes worthwhile extracting more.
Now, the difficulty is in getting the oil from the US to here.. watch out for the pirates. If we hadn't decommissioned our Navy, we could go out and shoot the f***ers, although that's probably an infringement of their human rights.

I'm getting f***ing sick of this country's attitude now. The world's going to hell, we're drowning in debt, and what do we do? Sell off our fighters and aircraft carriers, and increase the money we give to foreign dictators, sorry, I mean foreign aid.

HMS Cumberland won't dock in Libya because it's "not safe".. what the f---ing f--- ????!??!?!???

People misunderstand the concept of peak oil. The US & UK crusades in the middle east are to obtain the rights by theft of mineral resources because in these areas the cost of extraction is significantly cheaper, the same can't be said for the tar in Canada.

The UK needs to bin this idea of being a 'world force', we should have an army and the interference levels of the likes of Norway, Denmark or Sweden. Unfortunately we're tied into the USA's industrial military complex which is why Cameron and John Major are out in the M.E. flogging death to surpressed regions that the CIA and MI6 make unstable.

Cameron actually stated yesterday that M.E. democracies have a right to defend themselves...you couldn't make that 5hit up if you tried, democracies in the Middle East...lol...

Oh sorry, just one other thing, Google Nationmaster for a looksie at how much the USA consumes and produces, then think of how the developmnet of the BRICs has the US admin bricking it and why they'll fight to the death (under the banner of freedom) for the last drop of oil before their total isolationism will begin..I give it 50 years..

 

[tar]

Disagree with this. There's a glut of oil in the US, hence the massive spread between WTI and Brent. There is no shortage of oil in the tar sands in Canada.. if oil stays at these levels, it becomes worthwhile extracting more.

Now, the difficulty is in getting the oil from the US to here.. watch out for the pirates. If we hadn't decommissioned our Navy, we could go out and shoot the f***ers, although that's probably an infringement of their human rights.

I'm getting f***ing sick of this country's attitude now. The world's going to hell, we're drowning in debt, and what do we do? Sell off our fighters and aircraft carriers, and increase the money we give to foreign dictators, sorry, I mean foreign aid.

HMS Cumberland won't dock in Libya because it's "not safe".. what the f---ing f--- ????!??!?!???

Anyway remain 256 posts for u then u can shoot yourself :cheesy:

 

[tar]

@ M.E dictators : they made a great job and a huge favor for the western world through the years becuase of this UK and the US kept supporting them until the last minute , then after their regimes fall we will hear from the white house : " we want democracy ... blah blah " lol

http://en.wikipedia.org/wiki/Oil_reserves

 

[Black Swan]

@ M.E dictators : they made a great job and a huge favor for the western world through the years becuase of this UK and the US kept supporting them until the last minute , then after their regimes fall we will hear from the white house : " we want democracy ... blah blah " lol

http://en.wikipedia.org/wiki/Oil_reserves

The new USA regime needs new "sons of bitches". They have been caught out by these uprisings, they're on the back foot and no doubt affronted that they didn't cause them and as a consequence havn't game played the outcomes..

 

[meanreversion]

Price of oil was about $40 before they went into Iraq to get the oil, look at it now. To paraphrase George W, mission NOT accomplished.

 

[meanreversion]

The new USA regime needs new "sons of bitches". They have been caught out by these uprisings, they're on the back foot and no doubt affronted that they didn't cause them and as a consequence havn't game played the outcomes..

LOL very funny

you can just imagine how p*ssed the Americans are that they didn't start all this -- causing unrest is their mission!!

 

[Masquerade]

Only looks one way for quite some time, I don't think that chart has any importance. The US/UN are going to have to be pro-active on this. Relying on Saudi Arabia isn't a good long term solution.

 

[meanreversion]

I'm not sure oil will continue higher. The MPC will raise rates 25bp next month, which will immediately drive down the price of oil and other commodities, which have been responsible for our high inflation rate.

 

[scose-no-doubt]

Last night I had a dream I got short spot @ market then the price immediately spiked $30 and i was ruined. Just thought I'd add that.

 

[meanreversion]

Your having some very wierd dreams, scouse.

 

[Masquerade]

I've had dreams like that. Last week I had a dream within a dream about trading. I think it's some inception business.

 

[Black Swan]

I'm not sure oil will continue higher. The MPC will raise rates 25bp next month, which will immediately drive down the price of oil and other commodities, which have been responsible for our high inflation rate.

Wanna bet? In any event a 0.25% rise in rates aint gonna hit that market (medium/long term).

The clamour for rate rises is from vested interests wanting more transfer of wealth, it has nothing to do with calming down markets, cooling consumer spending, or wage inflation which is in fact deflationary (wage deflation has been here for 5 years and as such is similar to the 1920's/30's).

The UK natives could cope with higher inflation, and the inflation is imported, so unless there is a tri party agreement with the US and the EU to raise rates (significantly) then 'our' fuel inflation, basic food-stuff inflation and raw material inflation will not arrest with a raising of interest rates. Crop failure must also be removed from speculation, and crop use in the US for Ethanol (cheap fuel) likewise distorts markets indepedently of speculation..

Only 3 out of 9 voted for rate rises..The Jury is still well out on this one. imho a rate rise wouldn't happen in the 3rd quarter+..

 

[scose-no-doubt]

Sounds to me like a side bet between MR and BS is in order.

The winner get's a night with masquerade.

 

[tar]

Last night I had a dream I got short spot @ market then the price immediately spiked $30 and i was ruined. Just thought I'd add that.

I had a dream b4 one year i guess that oil reached 1000 $ and i was shorting it at 800 or something i was trading on an iphone with IG account :!: