Oil Price Watch

[renzo_d10]

Get ready for another probably increase, boys...

[uls]

Brent was OVERSOLD when it fell below $90 last month

[niky]

Get ready for another probably increase, boys...

Even if oil went down now, we are going to have an increase next week. Gasoline prices have not adjusted up to $98 oil. Our current prices are based on $95 oil.

[uls]

risk on!

__________________________________________________ ___

[chrismarte]

Repost:

Crude Oil
Brent US$99.57 up by US$0.41
Tapis US$104.30 up by US$2.11
WTI US$85.89 down by US$-0.17
(Prices are of 12-Jul-2012)

[uls]

baket July 12?

brent 102.85
wti 87.10

[chrismarte]

friday kahapon walang pumasok sa nag uupdate sa intranet

[attyallanlatras]

Should we expect a price increase of Gasoline this midnight?

[uls]

So ULS, you are Smarter than the SHELL CEO too.

Shell CEO sees oil price falling more in 2012

Demand is quite clearly softening, but I wouldn’t say it’s collapsing. Today the market has enough oil, more oil than we need…I see (oil prices) softening in the second-half,” Voser told CNBC on the sidelines of the World Gas Conference in Kuala Lumpur on Tuesday. CNBC, June 5, 2012. a Few Hours ago.

Hey ULS, has it ever occurred to you that people other than yourself can be Right?

These people actually work in the Oil and Financials Industry, while you are just an Armchair analyst.

hi again Mr. Shell CEO

so... you were saying... "I see (oil prices) softening in the second-half"



ya i know it's early... we're only one month into the second half...

[CVT]

$102

somebody pls remind the market there's too much oil in North America

Yup,- and it's their strategy. A matter of national security and economic prowess....

16.3K:shower:

[Ry_Tower]

107.80 na brent. Malamang mga P1-1.50 itataas ng fuels sa weekend.

[dopamine101]

Nung first Sunday of July nag Manaoag kami at mas mura dun ng 2-3 pesos/liter kesa sa Manila. Last week cheapest gas station I've seen is in Petron Tagaytay. 48.++

[uls]

unconventional oil production is costlier than conventional oil production

like i said oil price has to stay high to make unconventional oil production viable

US oil below $80 could slow shale oil drilling boom-Baker Hughes | Reuters

(Reuters) - Leading oil services firm Baker Hughes Inc warned on Friday that booming drilling in the shale oil fields of North Dakota and even south Texas could slow if U.S. prices drop below $80 a barrel.

While it has been clear for months that the pull-back in oil prices and searing costs have begun to temper the race to tap into the country's shale oil plays, Baker Hughes CEO Martin Craighead's comments were the bluntest yet to suggest that crude oil prices are already hovering near a key break point.

Companies tapping the vast U.S. bounty of shale and other tight oil plays may be scrutinizing some higher-cost production after West Texas Intermediate prices slumped in the second quarter, Craighead said in a conference call after second quarter earnings were released.

"I think the shoe's dropping in south Texas, no doubt about it," said Craighead, adding: "I'm a little bit more concerned about the Bakken than I am (about) the Permian."

With a sustained drop below $80 a barrel, "you could start to see some rigs coming off," he said.

After sagging under the combined weight of rising output from the United States and Canada, and slumping demand, U.S. crude prices have rebounded to over $91 a barrel.

Analysts this month began warning that unfettered growth in North Dakota's oil output could be drawing to a halt.

"The largest drillers in the Bakken are all reducing their rig counts this month, although none acknowledge a change in drilling plans," Barclays analyst Amrita Sen said in a note last week.

The U.S. oil-directed rig count in the latest week fell by the largest margin since February last year, with 13 fewer rigs operating, Baker Hughes data shows. The number of rigs drilling in Texas dropped by 10 while North Dakota's fell by one.

PRICE CONCERN

Technology used in the shale oil and gas boom is expensive, even after oil companies caught a break earlier this year when a cutback in new natural gas drilling due to low prices freed up rigs and fracking crews.

A typical Bakken well costs $10 million, while costs in the Eagle Ford can run up to $7 million a well, according to Bernstein Research. That is why any price drop below $80 a barrel is likely to threaten production.

A Reuters poll of analysts in June forecast WTI prices would average $94.60 a barrel in 2012, and $96.60 in 2013.

Such forecasts, if they hold, would keep production flowing from Eagle Ford and the Bakken, the major dynamos behind the shale oil surge that has redefined U.S. markets.

U.S. oil output declined for 17 straight years, knocking nearly 2.5 million barrels per day off its domestic production before a rebound in 2009. Output jumped 1.175 million bpd from 2009 through 2011, the biggest three year surge since the early 1970s, according to the U.S. Energy Information Administration.

RIG DATA

Analysts and oil traders are watching state data for any sign that the boom in unconventional resources is faltering. Data from North Dakota's state industrial commission showed some 210 rigs were operating in the state this week, down by 5 from June. The rig count peaked in May at just under 220.

But state officials said fluctuations in the rig count were to be expected and that, overall, the count should continue to rise.

"What we expect is a bit of a saw-tooth pattern in our rig count as new-built rigs are brought in. Once they're up and operating then older, inefficient rigs will be moved out," Lynn Helms, director of the state Industrial Commission's Oil and Gas Division, told Reuters in an interview earlier in July.

"It's not going to be a steady build."

[uls]

risk off

Spain's autonomous regions asking for bailout

brent

[c_cube]

May price increase mamayang 12 midnight? Kung meron magpapafull tank na ako..

Sent from my GT-P1000 using Tapatalk 2

[chrismarte]

^^May chance tapos na SONA eh

[Monseratto]

Gasoline prices up P1.80 per liter anew | ABS-CBN News

Gasoline prices up P1.80 per liter anew

ABS-CBNnews.com
Posted at 07/24/2012 2:33 AM | Updated as of 07/24/2012 2:33 AM


MANILA, Philippines - Oil companies Shell and Total announced a new round of price increases in their fuel products effective 6 a.m. Tuesday.

Shell said its gasoline pump price will rise by P1.80 per liter, diesel by P1.20, kerosene by P1.35, and regular gasoline by P1.65.

Total is also implementing similar price increases.

Its unleaded and Protec gasoline prices will rise by P1.80 per liter, diesel by P1.00, and regular gasoline by P1.65.

Other oil companies have yet to announce their price increases, as of posting.

[CVT]

Parang narinig ko na below $90 ang langis kagabi sa international market dahil sa problema ng Europe?...

16.4K:bond:

[boybi]

Parang narinig ko na below $90 ang langis kagabi sa international market dahil sa problema ng Europe?...

16.4K:bond:

WTI $88
Brent $103

[uls]

Parang narinig ko na below $90 ang langis kagabi sa international market dahil sa problema ng Europe?...

16.4K:bond:

WTI yan

but that's not the benchmark for Asia