Oil Prices - Crashing!
Anyone else been watching the dramatic falls this week?
Looks like we are about to start round two! http://www.bbc.co.uk/news/business-13301784 Man, if it drops to $35 a barrell like it did in 2008, I could of bought a scooby! :cry: £2 a litre by the end of the year? My Arse! :rolleyes: |
Pslewis must be worrying. :)
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Bet Petrol prices don't fall accordingly.
They'll be looking through their excuses handbook as we speak. Excuse 1) Week pound, Petrol prices rise Excuse 2) Strong Pound, Petrol prices rise |
I wonder if the fall will translate to the pumps. It's almost a shock walking past Tesco every morning and NOT seeing another penny on the price.
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I warned you about these commodity linked plays being over crowded.....this is the outcome.......
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Originally Posted by **************
(Post 10025125)
The excuse will come out that the petrol at the pumps is stock bought at the old prices and so will remain high at it takes 'months' to filter the cheaper stuff through the supply chain. Funny how when the price rises it's immediate and no such delay in filtering through the supply chain occurs.
Petrol stations = robbing barstewards Spot on...... |
No, no, you're wrong, the Lying Labour government told us so...............oh......wait.
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Originally Posted by **************
(Post 10025125)
Petrol stations = robbing barstewards
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You can't hate the petrol stations they are a business, the way they operate in the UK is just like their behaviour all over the world.
You can however hate on the fuel duty and tax structures these companies have to adhere to... |
I predict a super market price war anytime soon.
I don't think the public will stand for prices being kept as they are for another 3 months. I mean, Oil has had a 30% drop in cost in ONE WEEK! I realise that only around 30-40% of the £1.35 that we pay now is actually oil, but that is still a good 12-15p drop per litre. No excuses now. |
Originally Posted by EddScott
(Post 10025111)
I wonder if the fall will translate to the pumps. It's almost a shock walking past Tesco every morning and NOT seeing another penny on the price.
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Originally Posted by alloy
(Post 10025117)
I warned you about these commodity linked plays being over crowded.....this is the outcome.......
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Looks like it is now rebounding today.
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Originally Posted by hodgy0_2
(Post 10025227)
presumably the boys from Glencore saw the top of the market too |
I just noticed today on the BBC website that Brent Crude has dropped to $100 a barrel, but fuel is still fecking high. I thought this govenment promised a system based on how the price of oil rises and falls.
I can't really see them dropping the price though as they are laughing all the way to the bank! |
I see Gold is being dumped too.
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You lot want to check silver out!
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Why the sell off, Alloy?
Enlighten us. No doubt the fuel price stabiliser will be brought in swiftly to protect the government coffers! |
Where's the money running to?
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Originally Posted by tony de wonderful
(Post 10025311)
I see Gold is being dumped too.
Originally Posted by alloy
(Post 10025324)
You lot want to check silver out!
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Originally Posted by alloy
(Post 10025324)
You lot want to check silver out!
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This week we have had weak manufacturing and industrial orders data, concerns over the sustainability and health of the US economy, "QE2" ends next month with no scheduled round 3 this will sap liquidity out of the market and is a catalyst for the risk-off trade so naturally commodities are going to get hit.
Silver is due to CME hiking the margin to trade the metal which again is forcing sellers and leading to the capitulation. There are a lot of conspiracy theories doing the rounds about Gov intervening to burst the bubble, consortium cornering the market etc etc. At the end of the day nothing goes up/down in a straight line, corrections are healthy to overall sustainability of moves and to be honest some of these inflated prices were imminent to pop so you had to either be devoid of inspiration to remain in that trade or just damn right greedy.... |
Originally Posted by Gear Head
(Post 10025239)
Looks like it is now rebounding today.
were ya got that from? down nearly 2% according to the bbc market data ignore me, thats monthly results. |
Originally Posted by GlesgaKiss
(Post 10025395)
Down from near 50 to near 30 in a week, unreal. Been watching and so far disappointed with the drop in gold. Looking to buy krugerrands to add a little bit of physical to my savings. What do you reckon, precious metals 10% of portfolio, or less?
I buy and sell scrap gold as my main occupation, its been floating around at the high price for a while so the only way is down really, even if it does go up its not much atall I'm guessing you and alloy buy gold shares ? Would one of you be so kind and explain to me how it works ? if I wanted to buy bullion gold in physical form theres always a premium ontop of the price ? |
Originally Posted by GlesgaKiss
(Post 10025395)
Down from near 50 to near 30 in a week, unreal. Been watching and so far disappointed with the drop in gold. Looking to buy krugerrands to add a little bit of physical to my savings. What do you reckon, precious metals 10% of portfolio, or less?
I was a holder of commodities right up until i cut everything to book profits before easter, now even i must confess this was more luck than judgement on my timing, but i posted on one of the other threads about this commodity trade being overcrowded and overdone so the theory was right. I've been a bull on equity since the bottom, in fact i called the bottom 3 weeks premature and sweated it out before reaping the rewards. I don't know how the markets will react to the end of QE2, historically liquidity in the markets dries up over summer months and as such with these unknowns i'm reverting back to what i do best and keeping things nimble and just flow and ebb with the markets. I have several top down macro themes i'm scaling into but otherwise my exposure will be exceptionally short term and with prudent stops and hedged accordingly. Second guessing the criminality of central governments and the way they use policy to manipulate price fries my head, which is another reason i am just sticking to what i know best as it enables me to react to these circumstance as and when they may happen. Good luck:thumb: |
Stef - I will reply or pm you later. Just at work having lunch and I'm typing this on my phone.
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Originally Posted by stef_2010
(Post 10025418)
I've no idea why people would keep money tied up in gold atm.
I buy and sell scrap gold as my main occupation, its been floating around at the high price for a while so the only way is down really, even if it does go up its not much atall I'm guessing you and alloy buy gold shares ? Would one of you be so kind and explain to me how it works ? if I wanted to buy bullion gold in physical form theres always a premium ontop of the price ? |
thanks :)
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Originally Posted by alloy
(Post 10025439)
You buy and sell gold as your occupation, you don't see any further upside in gold as you have stated. What is your explanation as to why the price has gone from circa 1200 to a high of 1580 over the past 12 months??
I'm suprised that it has went so high recently, especially after the jump we had after the elections, me saying I dont see anymore upside is a total guess in all honesty, although I wouldnt complain :) Feel free to educate mme if this is all nonsense to you |
Prices typically fall at four times the rate of their rise, on average.
So bears just make money faster. |
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