SunnySideUp

Only $4 a Barrel ........ but, anything is good!!

PeteBrant

It dropped the other week before shooting up to $145.

So if the trend is anything to go by, expect a big rise next week

kingofturds

iTrader: (1)

petrol went down a penny around here yesterday yet diesel went up

TelBoy

Petrol companies can tell you anything they want right now about when they locked in the cost of their oil. The correlation between crude and petrol prices is all but irrelevant now, at least while the price remains so volatile. The downward lag is probably longer than it's ever been.

Leslie

Can anyone say the actual reason that oil prices have gone up in the way that they have?

Les

Paul3446

Does anyone have a link to a page with the current oil price on?

SiPie

Bloomberg.com: Energy Prices

fattb

iTrader: (1)

Most vendor won't give a live price without subscription.....however i can tell you its trading 138.93 now todays low is 138.29

EddScott

I have an article from Investor Chronicle that suggests the rising cost of fuel is down to three things - Supply, Demand and Speculation. Unregulated futures speculation.

An expensive game of pass the parcel. The bubble will burst when the governments realise they can't let it carry on and start to regulate the oil futures market - after they've had their slice of course.

TelBoy

I'd love to see them try to regulate the oil futures market. I can think of ways in which they could, but this could lead to all sorts of legal ramifications...

EddScott

With a bit of luck. Demand will level off, the population will realise that supply isn't actually going to run out and the price will collapse.

scoobynutta555

I've said previously that in the short term (days-months) prices will remain high until a sudden collapse to a 'true' market price, and long term there will be a gradual year on year rise.

The doubling of oil in a year has nothing to do with supply and demand, more like speculative trading creating an artificially high price, much like the property market. Especially as we are apparently heading for lower growth, even recession, there will be a dip in demand for oil.

Dedrater

Shhhhhh!!.......
Don't tell anyone...... I'm gonna go down on you....
...And you're gonna love it...........
........But it's only going to be long enough to let you start enjoying it........
....Then I'm gonna come back up again and fu*k you big time.....

Lots of love,
Petrol prices xx

shippy

The oil industry hasn't been this good for a long while, keeping myself and thousands of others in work, I hope it stays the way it is.

I don't mind paying a bit extra for fuel and heating.

Besides the government should cut tax on fuel.

Klaatu

Once Bush is gone, there will be a little correction in the market!

lordretsudo

We might be heading for lower growth, but try telling that to China, India, etc. The fact is that for the foreseeable future demand is going to continue to rise faster than supply ever can, due to these countries and their insatiable demand for more oil. This isn't helped by their large subsidies on oil, which mean that their citizens are shielded from the price rises and hence don't feel any need to curb their usage. In addition, whilst the dollar remains weak and oil continues to be traded in dollars, speculation will continue, there are also more and more problems in Nigeria, increasing tension with Iran, etc, etc.

As someone above said, long may in continue IMO - I'm in line for a big bonus at the end of the year

nickhasl

scoobynutta555

Yes and who do you think China and India sell their wares to? Their main markets (us) are heading in a spending squeeze. High growth in their economies does not justify a more than doubling of oil in a year, therefore we have an artificially high price. As with everything overpriced their will be an adjustment.