Oil Price Watch

[tidus1203]

Expect more price hikes next week... I have been watching world oil price movements around $2 higher this week compared to last week... You have been warned...

[Ry_Tower]

Thanks, I fully loaded na nga.

This is my 2nd best fave thread. After the OT thread

Tied with the world economy thread kahit na sumasakit ulo ko minsan sa pag-intindi!

[uls]

WTI


oil futures fell after the disappointing jobs report but recovered coz of dollar weakness

IMF/EU Greece bailout2.0 sent the USD falling against the euro

[Monseratto]

Eastern Petroleum to hike oil prices | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

Eastern Petroleum to hike oil prices
abs-cbnNEWS.com
Posted at 06/06/2011 11:27 AM | Updated as of 06/06/2011 11:27 AM


MANILA, Philippines - Independent oil player Eastern Petroleum will hike pump prices at 6 a.m. Tuesday, June 7.

The firm said it will raise prices of diesel and kerosene by P0.85 per liter, and gasoline by P0.45 per liter. - Report from Alvin Elchico, ABS-CBN News

[tidus1203]

Eastern Petroleum to hike oil prices | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

Yep as I was expecting... Sigurado sunod na yung mga BIG THREE!

[uls]

Malaysia’s Petronas chief: Oil overpriced, $75-$80 a barrel ideal based on fundamentals - The Washington Post

Malaysia’s Petronas chief: Oil overpriced, $75-$80 a barrel ideal based on fundamentals

KUALA LUMPUR, Malaysia — The chief of Malaysia’s national oil company Petronas says global crude prices were overpriced and should ideally fall within the range of $75 to $80 a barrel.

Despite rising demand, Petronas Chief Executive Shamsul Azhar Abbas says there was no real evidence of oil shortages in the market and that current triple-digit prices appeared partly influenced by central bankers and financial speculators.

Federal Reserve devaluation of the dollar

pushing investors/speculators into high risk/high return assets

[Ry_Tower]

Malaysia’s Petronas chief: Oil overpriced, $75-$80 a barrel ideal based on fundamentals - The Washington Post



Federal Reserve devaluation of the dollar

pushing investors/speculators into high risk/high return assets

Siyempre, capitalist economy eh, those with money can influence the economy.

[uls]

it's human nature to protect ones interests

unfortunately this time the side effect of wealth protection is high food and fuel prices

[tidus1203]

Yep human nature... If push comes to shove if my neighbor has to become hungry if I can feed my family then so be it...

Ganyan lang din mga speculators. They buy hard assets to protect themselves from the central bankers...

[CVT]

Tingin ko, nakapako na riyan ang presyo ng gasolina....

13.4K:stereo:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
“Doesn’t take a lot of beer to cause a lot of trouble” :starwars:
“You are because of the choices you made”

[Ry_Tower]

Daya talaga dito sa amin, dapt .85 lang increase, ginawang .90 eh.

Hindi pa siguro ito mapapako, roller-coaster pa rin. Pero sana due to the admission of Petronas and the opinion of Exxon Mobil chief, sana may pressure na magenerate for speculators not to overreact. Yung ibang commodity na hindi naman ganyan kalaki influence sa world economy eh hindi din naman volatile masyado. However, due to interest of the big money makers nga, ewan lang kung mangyayari unless some sort of regulation is done. Kaso who would regulate nga naman, away lang kalalabasan.

[uls]

Brent-WTI $17 spread

Brent $115, WTI $98

watch Brent. it's THE oil price benchmark, not WTI (we still use WTI out of habit. hard habit to break hehe)

what's keeping WTI price down?

a lot of oil stored in Cushing Oklahoma. strong inflow of Canadian crude into the Cushing delivery point

and rollover period -- index funds sell front-month futures contracts and buy second-month futures contracts

[Ry_Tower]

Brent-WTI $17 spread

Brent $115, WTI $98

watch Brent. it's THE oil price benchmark, not WTI (we still use WTI out of habit. hard habit to break hehe)

what's keeping WTI price down?


a lot of oil stored in Cushing Oklahoma. strong inflow of Canadian crude into the Cushing delivery point

and rollover period -- index funds sell front-month futures contracts and buy second-month futures contracts

Pero laki ng difference. If this hold by friday, nako next week meron na naman increase malamang!

[Ry_Tower]

Brent-WTI $17 spread

Brent $115, WTI $98

watch Brent. it's THE oil price benchmark, not WTI (we still use WTI out of habit. hard habit to break hehe)

what's keeping WTI price down?


a lot of oil stored in Cushing Oklahoma. strong inflow of Canadian crude into the Cushing delivery point

and rollover period -- index funds sell front-month futures contracts and buy second-month futures contracts

Pero laki ng difference. If this hold by friday, nako next week meron na naman increase malamang!

[uls]

Saudi Arabia, Kuwait, Qatar, UAE want OPEC to raise output by 1.5 million barrels/day

Libya, Angola, Ecuador, Algeria, Iran, Venezuela opposed

OPEC a cartel? it's not behaving like one

check out vertical take-off WTI

[uls]

Brent above $118 as i type

[CVT]

[COLOR="teal"]
Oh well.... Time to act decisively...

13.4K:stereo:

[uls]

to those who still believe OPEC keeps oil price high by limiting production

members have always produced above quota

[niky]

Hahaha... should bookmark that graph...

[jansky]

^^ what does it means..???
if members produce above quota, this should lead to lower the price right..