Oil Price Watch

[uls]

key technical level ang $111.50

if it breaks lots of sell orders will be triggered

[uls]

this is exactly why you need high energy prices -- to make projects economically viable

just coz you got oil & gas reserves under the ground doesnt mean you can extract it anytime you want

FT:

Gazprom is to shelve its plan to develop the vast Shtokman gasfield in Russia’s Barents Sea because of surging costs. The decision underscores the huge challenges faced by energy companies trying to tap oil and gas reserves in the remote, icy waters of the Arctic.

if the cost of extracting the commodity exceeds the price of the commodity nobody will bother to extract it

[uls]

so much for testing $111.50. won't even fall below $112

[Gumusut_Amige]

so much for testing $111.50. won't even fall below $112

bro uls, ibig bang sabihin yang chart na yan ay mag full tank uli tayo? parang sirit uli to the roof ang presyo ng langis

[uls]

I hope that diesel prices can stabilize at 40-44 pesos per liter. Priced it too low i think will also be bad for the economy. Please correct me if im wrong.

well... priced too low matutuwa mga transport group hehe

let's say crude price is high but wholesale price of diesel is low relative to crude (narrow spread) -- that means demand for diesel is low. refiners arent making money from diesel. so they'll cut back on diesel and produce more gasoline or other products that have higher profit margin

[pop3corn]

Gago kse sila eh, sobrang nila hinedge ang commodity na oil eh, Kaya nowhere to go but up ang prices, pag bumababa ng konti yare din ang economy.

ang Hirap yan artificially eh lagi nila pinapataas ang Lagis thru some world event or crisis, why bec they're trying to protect their money sa investments.

The problem is with the advent of computers, people all over the world can cut spending at enjoyin na Lang and efficient benefits ng computer age. the more na tinataas. Nila yan oil, the more people will tighten belts, and therefore no cash flow or spending, and therefore hurt economy.

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Hindi PERa ang nagpapaikot sa mundo, kundi pure kinetic energy ng bawat Tao na gumagalaw, kumikilos at nagtrabaho. That's the money maker, the problem with making money out of money is dependent Ito sa amount raw labor or movement ng Tao. Curtail that with skyrocketing prices, and people will just stay at home and be satisfied with just the benefits of the Internet.

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[uls]

like i said, the market cares more about central bank monetary policy

ECB's Draghi says ECB can buy 3 yr bonds

[uls]

OB, when you have central banks planning to flood the world with fiat money natural tendency of fiat money holders is to hedge against dilution

where can you hedge? equities, commodities

[uls]

[uls]

Asian Chemical Connections

A barrel of Brent crude oil cost $88.49 a barrel in June. Yesterday, it was trading at $116.55 a barrel.

In the intervening period the global economy has substantially weakened, most notably in the case of China, as the problems that have been identifiable since late last year have become widely recognised.

China's official GDP growth is likely to be around 7 percent this year, close to the government's targets, says Glenn Maguire, chief economist at the Sydney-based economic consultancy Asia Sentry Advisory.

But he warns that real, underlying GDP growth could fall to 3-5 percent in 2012, reflecting what the polymer markets are telling us.

And yet the oil price has rallied, resulting in the Group of Seven industrially advanced nations urging oil producers in late August to "increase their output to meet demand".

The problem, as China illustrates, however, is that the oil-price rally has little to do with demand. As we discuss in Chapter 3 of our book, Boom, Gloom & The New Normal, oil prices are about speculation. The increases over the last few days are, for example, about excitement that the Fed might be about to give speculators another free lunch to gamble with even more stimulus money.

[BratPAQ]

So are we expecting an increase this weekend?

Papakarga na kasi ako kung magkakaron. Hehe.

"di bababa sa 90 cents per liter sa gasolina" ayon sa balita. Usually yan tuesday morning so para safe nagpapagas ako ng sunday evening.

[renzo_d10]

Damn! Papa-gas na ako this weekend.

Grabe kelan ba ulit babalik yung gas sa P48/L. Hehe.

[niky]

Pipe dream. Maybe if the Chinese economy implodes. But then, we'll be too busy dodging the shrapnel to enjoy it.

[uls]

when oil prices started falling in May i attributed it to risk-off (fear)... NOT supply and demand fundamentals

May 6 elections in Greece -- the market was pricing in anti-austerity parties would win which would jeopardize the bailout which would lead to Greece defaulting which would lead to Greece exiting the euro

look at when the euro started falling... May



now look at when oil started falling... May



now look at what level where the euro and oil are now

highest since when?

May

[uls]

when oil price started falling in May i attributed it to risk off (fear)... not supply and demand

May 6 elections in Greece. before the elections the market was pricing in the victory of anti-austerity parties which would jeopardize the bailout which would cause Greece to default which would lead to Greece leaving the euro

look at when the euro really started falling... May



and look at when oil really started falling... May



now look at where the euro and oil are now... highest since when?

May

supply and demand?

nope

it's risk on risk off

[uls]

Crude oil ought to be $150 per barrel: Iran | Reuters

(Reuters) - Crude oil should be at least $150 per barrel, Iran's oil minister was quoted as saying on Sunday, and the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy.

hey Iran, sink a tanker passing the Strait of Hormuz. that will send oil to $150

[Monseratto]

Or fire a " test satellite" missle towards Israel....

[Ry_Tower]

Natakot kaya sa implications ng protest ng Chinese vs Japan.

[renzo_d10]

Yehey may rollback!

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[threx666]

Any news if me rollback ngayong weekend?