Looks like no more price increase for you OB in the weekend.
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August 25th, 2012 10:42 AM #1461Last edited by Ry_Tower; August 25th, 2012 at 10:46 AM.
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August 25th, 2012 10:50 AM #1462UPDATE 9-Oil drops on reserves release report, storm limits loss | Reuters
NEW YORK, Aug 24 (Reuters) - Oil prices fell on Friday after a report that the International Energy Agency is likely to tap strategic oil reserves as soon as September, dropping its resistance to a U.S.-led plan.
U.S. crude losses were limited because of the threat to Gulf of Mexico production from Tropical Storm Isaac and that potential supply disruption prompted selling of Brent positions and buying of U.S. crude, brokers said.
The IEA, whose chief recently dismissed the need for a release, is now thought to have agreed to the idea, the industry journal Petroleum Economist said, citing unnamed sources.
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August 25th, 2012 03:58 PM #1464bakit nga pala hindi na dictated ng "law of supply and demand" ang oil prices? lagi na lang "tension sa middle east". meron bang premium ang pag-escort sa mga oil tankers?
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August 25th, 2012 06:03 PM #1465coz supply and demand is no longer the only factor that affects the price of oil
the oil market used to be dominated by oil companies. now it's dominated by financial companies. like Goldman Sachs. oil has been financialized. financial events move the price of oil. like central bank monetary policy. central bank meetings are now more anticipated than OPEC meetings
supply and demand is so ten years ago
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August 25th, 2012 07:17 PM #1466Supply and demand has been replaced by GREED, financial companies run by Jewish capitalists...hehehe.
Originally Posted by uls
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August 25th, 2012 07:47 PM #1468Surely may effect sa prices. Venezuela also supplies to the US.
25 August 2012 Last updated at 09:12 GMT
Fatal blast at Venezuela's Amuay refinery At least seven people have been killed and dozens more injured in an explosion at Venezuela's biggest oil refinery, the local governor says.
Stella Lugo said there was no risk of further explosions at the Amuay plant in the north of the country.
Officials earlier said a gas tank had blown up during the night, damaging the plant and nearby buildings.
The Amuay refinery is one of the biggest in the world, producing some 645,000 barrels a day.
Earlier, Energy Minister Rafael Ramirez blamed the explosion on a gas leak.
"It was a significant explosion, there is appreciable damage to infrastructure and houses opposite the refinery," he said.
Analysts say refineries in Venezuela, South America's biggest oil producer, have suffered from a long list of problems including power failures and accidents.
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August 25th, 2012 10:34 PM #1469refinery shutdown = less demand for crude
refinery shutdown = less supply of finished products
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August 25th, 2012 11:36 PM #1471brent faces selling pressure when it goes above $115
but gets bid up when it falls near $110
so watch $109. it's support. if brent breaks 109 it can fall further
as long as there's no major geopolitical event (like Western military intervention in Syria, Israel attacking Iran) looks like the rally has lost momentum
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August 26th, 2012 04:42 PM #1472maganda ito, due to GREED, the new equation is: less demand = refinery shutdown = less supply Originally Posted by uls
alam ba nyong ganito rin ang nangyayari sa electricity ngayon kaya nasa P13+/kWh na? though meron konting twist sa equation: high demand = due to GREED, plant or gas pipeline shutdown = supply from expensive sources (like diesel)
related yung dalawa diba
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August 26th, 2012 05:00 PM #1473According to a study, we are paying for electriciry at full market value. Unlike everyone else who's electricity is subsidized by their goverments to some degree.
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August 27th, 2012 12:28 PM #1474hurricane isaac
oil production in the US gulf coast temporarily shut down
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August 27th, 2012 12:36 PM #1475re Venezuela refinery shutdown = less supply of finished products
Gasoline Rises to Four-Month High on Plant Fire, Storm - Bloomberg
Gasoline rose to the highest level in almost four months in New York after a fire shut part of the world’s second-largest refinery site, located in Venezuela.Futures for September delivery gained as much as 12.7 cents to $3.205 a gallon on the New York Mercantile Exchange, the most since April 30. Prices are up 19 percent this year.Last edited by uls; August 27th, 2012 at 12:46 PM.
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August 27th, 2012 12:45 PM #1476just when the rally is losing momentum... a hurricane
Last edited by uls; August 27th, 2012 at 01:05 PM.
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August 27th, 2012 09:56 PM #1480the price action isnt in crude
it's in refined products
about 40% of US refining capacity is in the gulf coast
RBOB
RBOB - reformulated gasoline blendstock for oxygen blendingLast edited by uls; August 27th, 2012 at 10:03 PM.
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Originally Posted by uls
