Crude could go through $50/barrel today!
20 August 2004, 12:50 PM
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Crude could go through $50/barrel today!
Still surprised by lack of comments on here about it....
We're at $49.24/barrel. This is up about 30% on the month.
It seems the petrol retailers are suppressing the rises for now, so don't be so quick to criticise them when it slumps back down to $35/barrel again...
We're at $49.24/barrel. This is up about 30% on the month.
It seems the petrol retailers are suppressing the rises for now, so don't be so quick to criticise them when it slumps back down to $35/barrel again...
20 August 2004, 12:58 PM
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I tell you what, I've just got this email that says we can protest by all buying our petrol from supermarkets rather than the usual big petrol companies...
20 August 2004, 01:09 PM
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I think people are getting used to high oil prices, hence the lack of reaction and the ones that haven't will soon have to with house prices beginning to dip. It will be interesting to see if equity withdrawal continues once people begin to feel poor again or whether this is just a temporary blip.
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20 August 2004, 01:12 PM
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Originally Posted by Faire D'Income
I think people are getting used to high oil prices, hence the lack of reaction and the ones that haven't will soon have to with house prices beginning to dip. It will be interesting to see if equity withdrawal continues once people begin to feel poor again or whether this is just a temporary blip.
20 August 2004, 01:13 PM
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Originally Posted by davyboy
A natural way to keep peasants off our roads.
Great news.
Great news.
*snort*
PMSL!!
Say what you really think mate!!! LOL!!
Chris - yer too late!!
Search under "Yukos"... 
20 August 2004, 01:16 PM
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Originally Posted by OllyK
House prices still on the rise in the North, slower to start the big rise, but currently still going by all accounts. Seems areas of the South have mainly stagnated, but a few are dropping. I read this was more due to people over pricing to start with and now having to adjust due to the reduce market of available buyers.
20 August 2004, 01:29 PM
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Originally Posted by Faire D'Income
There was a report out yesterday showing decreases of around 2% in the South East up to the East Midlands and given that the markets lag behind the further North you go it's only a matter of time (if this trend continues) before they reverse as well. Combine that with higher prices at the pumps and it will affect consumer's spending habits - how much remains to be seen but I hope it happens fairly quickly as there is still way too much equity withdrawal which worries me.
Others are doing similar things, dropping the prices but not being prepared to haggle as much, end result the actual selling prices are not changing too much, but the asking prices are.
20 August 2004, 01:36 PM
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Was hardly a shock to see house prices showing falls - couldnt keep climbing forever!
Whats worrying about this oil price increase is the main reason for the hike is increased demand in China/US - the trouble in Iraq/Yukos etc being only the secondary factor.
[Pessimism]
Means high prices are probably here to stay - some predicting $70/barrel will be the peak of this run :0
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
Whats worrying about this oil price increase is the main reason for the hike is increased demand in China/US - the trouble in Iraq/Yukos etc being only the secondary factor.
[Pessimism]
Means high prices are probably here to stay - some predicting $70/barrel will be the peak of this run :0
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
20 August 2004, 01:38 PM
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Originally Posted by OllyK
To be honest 2% is neither here nor there. That's about the extra estate agents have been suggesting putting on over the price they expect the property to sell at anyway. I put my house on the market a couple of weeks ago and they did exactly that. As it happens I haven't, I am looking for a quick sale so it is on a pretty much what I want for it, it just means I don't have much in the way of haggling room.
Others are doing similar things, dropping the prices but not being prepared to haggle as much, end result the actual selling prices are not changing too much, but the asking prices are.
Others are doing similar things, dropping the prices but not being prepared to haggle as much, end result the actual selling prices are not changing too much, but the asking prices are.
Olly, at the start of the year we had the market makers telling us that the housing market would continue to sustain double digit growth for the foreseeable future. Then, their story changed to a "soft landing" as prices flattened out and all the time we're being told that there is no chance whatsoever of a repeat of the negative equity problems of the early '90s. Now their story is changing to one of small movements downwards as the market adjusts - in less than a year their whole attitude has changed completely - remember their job is to talk up the market.
The similarities to the early '90s is uncanny. The same mantras were repeated and repeated until one fine day in August, property prices dropped off the edge and all along we were told it couldn't happen. Hopefully, it won't but I believe there will be a significant readjustment of some sort but not of the proportions we had before. Prices are decreasing, and they will continue that downward curve but I just hope that the increase in fuel prices (which will come) start to make people aware that there is no such thing as free money so that they start to reign things in a little.
20 August 2004, 01:41 PM
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...or to look at the situation another way...
the % increase in the UK will be lower than other countries because the raw material cost is is a smaller proportion of the total cost to the consumer. So relatively speaking, increasing crude prices makes the UK economy more competitive than our European neighbours, doesn't it ?
the % increase in the UK will be lower than other countries because the raw material cost is is a smaller proportion of the total cost to the consumer. So relatively speaking, increasing crude prices makes the UK economy more competitive than our European neighbours, doesn't it ?
20 August 2004, 01:44 PM
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Originally Posted by Faire D'Income
Imlach - apologies for hijacking your thread...
Olly, at the start of the year we had the market makers telling us that the housing market would continue to sustain double digit growth for the foreseeable future. Then, their story changed to a "soft landing" as prices flattened out and all the time we're being told that there is no chance whatsoever of a repeat of the negative equity problems of the early '90s. Now their story is changing to one of small movements downwards as the market adjusts - in less than a year their whole attitude has changed completely - remember their job is to talk up the market.
The similarities to the early '90s is uncanny. The same mantras were repeated and repeated until one fine day in August, property prices dropped off the edge and all along we were told it couldn't happen. Hopefully, it won't but I believe there will be a significant readjustment of some sort but not of the proportions we had before. Prices are decreasing, and they will continue that downward curve but I just hope that the increase in fuel prices (which will come) start to make people aware that there is no such thing as free money so that they start to reign things in a little.
Olly, at the start of the year we had the market makers telling us that the housing market would continue to sustain double digit growth for the foreseeable future. Then, their story changed to a "soft landing" as prices flattened out and all the time we're being told that there is no chance whatsoever of a repeat of the negative equity problems of the early '90s. Now their story is changing to one of small movements downwards as the market adjusts - in less than a year their whole attitude has changed completely - remember their job is to talk up the market.
The similarities to the early '90s is uncanny. The same mantras were repeated and repeated until one fine day in August, property prices dropped off the edge and all along we were told it couldn't happen. Hopefully, it won't but I believe there will be a significant readjustment of some sort but not of the proportions we had before. Prices are decreasing, and they will continue that downward curve but I just hope that the increase in fuel prices (which will come) start to make people aware that there is no such thing as free money so that they start to reign things in a little.
The long and the short of it is that neither group know, but either could be right.
Personally I am a pessimist on this issue so I am only looking at increasing to a 50% mortgage so I've got a fair bit of room if things do head south big style
20 August 2004, 01:47 PM
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Originally Posted by OllyK
Personally I am a pessimist on this issue so I am only looking at increasing to a 50% mortgage so I've got a fair bit of room if things do head south big style
20 August 2004, 01:50 PM
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Originally Posted by Faire D'Income
Very sensible. That will give you more cash to spend on Optimax.
20 August 2004, 01:56 PM
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Originally Posted by Petem95
[Pessimism]
Means high prices are probably here to stay - some predicting $70/barrel will be the peak of this run :0
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
Means high prices are probably here to stay - some predicting $70/barrel will be the peak of this run :0
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
As a potential first time buyer (but currently a saver
), there is no way in hell I'm going to take the plunge at the moment. Quite happy to wait a year or so, continue to build up the deposit, and see what happens. House prices are certainly not going up at the moment (darn sauf) so I have nothing to lose.
20 August 2004, 02:06 PM
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20 August 2004, 02:23 PM
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Originally Posted by marky1
well it's still cheap, keep buying it. And imlach if you're in it you might wanna get out becuase you're looking at sep which is last trading day today!
Not in it for moment.
Was thinking of shorting when we got above $50, but really not so confident on that one for now....
It will plummet HARD at some point in next month IMHO, but to catch that fall will be hard...
20 August 2004, 02:31 PM
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yeah imlach i shorted it yesterday with a tight stop, obviously i'm out now! i don't know what you're doing but I'm in futures, the hype on oil is just so massive now I'm thinking it may be getting overdone. Thing is everyone is looking for $50. Bit like 2 on the cable, didn't get there (yet!) will the oil? We could see a $3-4 move down in the space of a couple of hourse, I wanna be on it in size!
20 August 2004, 02:43 PM
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Who cares....
Ive never bought a barrel of crude oil in my life.
What is it anyway ?
With you always quoting dollars, I assume its something that Americans buy.
Ive never bought a barrel of crude oil in my life.
What is it anyway ?
With you always quoting dollars, I assume its something that Americans buy.
20 August 2004, 04:13 PM
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Originally Posted by Petem95
some predicting $70/barrel will be the peak of this run :0
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
Whats the outlook for the UK economy I wonder?.... hmm.. house prices falling, inflation increasing, interests rates rising and £1trillion of household debt......
[/Pessimism]
tick.... tock.... tick... tock...
20 August 2004, 05:02 PM
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oil's too volatile to spread bet at the mo, need to large a deposit to cover the expected vol.
If I did anything I'd buy with a $40 stop. ok, you'll reduce your leverage but come end of the year it'll prob be $55/60
If I did anything I'd buy with a $40 stop. ok, you'll reduce your leverage but come end of the year it'll prob be $55/60