Oil Price Watch

[Monseratto]

What's better, having fares that are a little expensive to cover fuel surcharges or a bankrupt airline?

[uls]

Obama: War fears driving gasoline prices higher | GMA News Online | The Go-To Site for Filipinos Everywhere

Obama: War fears driving gasoline prices higher
March 13, 2012 8:57am

WASHINGTON - U.S. President Barack Obama said on Monday that jitters about the prospect of a military conflict involving Iran were a main factor behind the recent rise in gasoline prices.

"The biggest driver of these high gas prices is speculation about possible war in the Middle East, which is why we've been trying to reduce some of the loose talk about war there," Obama told WFTV, an ABC affiliate in Orlando, Florida.

medyo OT lang

aircraft carrier USS Enterprise will be decommissioned in 2013

the carrier is being sent to the Middle East for its final mission

(CNN) -- The legendary aircraft carrier USS Enterprise, America's oldest active-duty warship, was steaming in the Atlantic on Monday on the last deployment of its 50-year career.

The carrier and its crew of 3,100 left Norfolk Naval Station in Virginia on Sunday in the ship's 22nd deployment. The ship's air wing and other naval staff aboard add another 1,500 personnel.

It will be deployed in the Navy's Sixth Fleet and Fifth Fleet areas of operations, which cover Europe, Africa and the Middle East, including current hot spots Iran and Syria.

why the hell are they sending that 50 yr old soon-to-be-scrapped ship to the Persian Gulf?

conspiracy theorists say the ship will be sunk in the Persian Gulf and will be blamed on Iran to justify an attack on Iran

decommissioning the Enterprise will be very expensive. it has nuclear reactors that have to be disposed off properly

sinking the carrier in the Gulf would save the US govt a lot of money

but of course i'm not saying that will happen coz i'm not a conspiracy theorist hehe

[ghosthunter]

Maybe we could ask for the USS Enterprise to be used as a mobile powerplant for the Philippines?

It develops enough power to run a small city so its just a matter of attaching it to the national grid to distribute the power outside the ship.

[jonat22]

P3.00 off ngayon sa Caltex along C-5 yung sa may Bagong Ilog. 7am - 7pm din yun. full tank na syang din.

[uls]

Maybe we could ask for the USS Enterprise to be used as a mobile powerplant for the Philippines?

It develops enough power to run a small city so its just a matter of attaching it to the national grid to distribute the power outside the ship.

but Greenpeace and Gina Lopez will protest coz it's nuclear hehe

[SiRbossR]

but Greenpeace and Gina Lopez will protest coz it's nuclear hehe

I really hate those Greenpeace people.

[niky]

Maybe we could ask for the USS Enterprise to be used as a mobile powerplant for the Philippines?

It develops enough power to run a small city so its just a matter of attaching it to the national grid to distribute the power outside the ship.

There are some proposals to recommission old nuclear sub reactors for power generation in remote areas. I think we should bid on the Enterprise reactors... should be good to service several towns each.

[ghosthunter]

There are some proposals to recommission old nuclear sub reactors for power generation in remote areas. I think we should bid on the Enterprise reactors... should be good to service several towns each.

We should get the subs complete and let it arrive silent so greenpeace and gina lopez wouldn't know about it and file their protests.

[Ry_Tower]

^ haha, sneak attack I Like!

[niky]

"Where is this town getting power from?!? Why are you not using our bio-waste methane-generation plant?!?"




"Ma'am, we get our power from this magic underwater cable..."

[uls]

less oil coming out of Yemen, Sudan, South Sudan, Syria

and Iran

(Financial Times) -- Iran's oil production has fallen to a 10-year low and could drop to levels last seen during the Iran-Iraq war in the 1980s as sanctions over its nuclear programme disrupt an industry already suffering from years of underinvestment.

The country's crude production fell by 50,000 barrels a day to 3.38m b/d in February, according to the International Energy Agency. The last time it was that low was in late 2002, IEA statistics show.

i don't have the figures now but there must be very little spare oil left out there... if there's any

that's why oil price (Brent benchmark) is stuck above $124

nobody wants to short oil

non-commercial players betting on upside at record high

Published March 12, 2012
Dow Jones Newswires

LONDON -- Bets by speculators on the global oil market that Brent crude futures would rise reached a new record high in the week ended March 6, when fears of a supply disruption outweighed worries over economic slowdown.

Money managers, including hedge funds, increased their net long position in crude oil futures and options by 4% to 132,370 contracts, according to IntercontinentalExchange Inc.'s (ICE) weekly Commitment of Traders report published Monday. It's the highest level since ICE started publishing the reports last June.

[uls]

Brent below $123

a report last night that the UK will cooperate with the US to lower oil prices by releasing oil from reserves

Report of strategic reserve release denied by Obama administration - The Washington Post

Oil prices dropped quickly Thursday on a news report that Britain and the United States would cooperate on a release of crude oil from strategic reserves, but the Obama administration said the report was “not accurate” and played down the talks with British officials.

[niky]

It's possible the Iran problem could settle if they beef up the infrastructure... same with Iraq... but with the violence there, that's not going to happen soon.

I have my doubts that $140 per barrel is a sustainable level. Slow growth in China and a weak US and Europe mean that you're not going to get many buyers for more expensive oil. They have to peg it lower or accept a continuance of the 08-style boom bust cycle that will be just as damaging to the oil producers as it is to everyone else.

[Bin Diesel]

Obama: War fears driving gasoline prices higher | GMA News Online | The Go-To Site for Filipinos Everywhere



medyo OT lang

aircraft carrier USS Enterprise will be decommissioned in 2013

the carrier is being sent to the Middle East for its final mission



why the hell are they sending that 50 yr old soon-to-be-scrapped ship to the Persian Gulf?

conspiracy theorists say the ship will be sunk in the Persian Gulf and will be blamed on Iran to justify an attack on Iran

decommissioning the Enterprise will be very expensive. it has nuclear reactors that have to be disposed off properly

sinking the carrier in the Gulf would save the US govt a lot of money

but of course i'm not saying that will happen coz i'm not a conspiracy theorist hehe

I though you became an ehnrikoist.

[uls]

^^^

hehehe

____________________________________

[uls]

It's possible the Iran problem could settle if they beef up the infrastructure... same with Iraq... but with the violence there, that's not going to happen soon.

I have my doubts that $140 per barrel is a sustainable level. Slow growth in China and a weak US and Europe mean that you're not going to get many buyers for more expensive oil. They have to peg it lower or accept a continuance of the 08-style boom bust cycle that will be just as damaging to the oil producers as it is to everyone else.

ya Brent can't even get to $127

at a high of $126+ the market has already priced in everything

unless war really happens seems like oil price can't get any higher

[niky]

ya Brent can't even get to $127

at a high of $126+ the market has already priced in everything

unless war really happens seems like oil price can't get any higher

Not without creating market instability. Maybe... *gasp* ...those hedge-fund idiots finally realize that playing with the price of oil is not just playing with fire (like playing with currency in the 90's)... it's like juggling lit sticks of dynamite while blindfolded...

[uls]

doesn't it feel like they're really preparing for war?

U.S. doubling minesweepers in Persian Gulf - Navy News | News from Afghanistan & Iraq - Navy Times

U.S. doubling minesweepers in Persian Gulf
By Christopher P. Cavas - Staff writer
Posted : Thursday Mar 15, 2012 20:26:51 EDT
Four more minesweepers and four more minesweeping helicopters are to be sent to the Persian Gulf, the U.S. Navy’s top officer said Thursday, a move which will increase the number of mine countermeasure forces available to keep open the sea lanes around the Strait of Hormuz should Iran choose to mine that critical waterway.

[uls]

Brent May 2012 futures up more than 3 dollars

[uls]

what's the purpose of international sanctions on Iran? to make Iran stop its nuclear ambitions?

nope. to stop Israel from attacking Iran. to convince Israel the international community is doing something about Iran

Israeli threats of attack sparked new wave of Iran sanctions, officials say - Haaretz Daily Newspaper | Israel News

Senior officials in the Foreign Ministry believe that the latest sanctions imposed by the West against Iran result from the threats Israel issued about launching a unilateral attack on the Iranian nuclear facilities.

Yesterday, Swift, the global provider of financial services, announced that it is severing 25 Iranian banks from its systems, starting tomorrow. This dramatic move means that Iran's government will effectively have to transact its international business in cash.

A top Foreign Ministry official said that the recent rounds of sanctions imposed by the European Union and the U.S. against Iran, along with the fact that states such as Japan and South Korea have joined efforts to pressure Tehran, and also China's reduction of oil purchases from Iran, bear witness to the international community's apprehensions about an Israeli military strike. "These aren't sanctions against Iran. Instead, they are sanctions imposed by the West to curb Israel's attack plans," a senior foreign ministry official said.