Oil Price Watch

[Chikselog]

From Twitter:
*Petrol_Price: Petrol Price ROLLBACK
P0.45/L Premium Unleaded;
INCREASE
P0.25/L Regular;
P0.75/L Diesel;
P0.60/L Kerosene;
eff 06:00AM Aug. 28, 2012

[uls]

downside pressure -- rumor Strategic Petroleum Reserve release



(gotta do something about high gas prices... have to win an election)

---

http://www.tradingfloor.com/posts/cr...leas-297075360

Crude oil selling off on the back of rumour about SPR release.This follows strong price action early in the day on the back of news that tropical storm Isaac is picking up speed over the Gulf of Mexico and potentially heading towards production and refinery systems along the northern coast. Speculative accounts added 37 million barrels (Brent and WTI combined) to existing long positions as of August 21. Most of these bought positions are now under water which helps to explain the speed of the move.

those with long positions ran to the exit all at once. explaining the sharp drop

---

more downside pressure -- hurricane Isaac downgraded from cat 2 to cat 1

[uls]

UPDATE 7-Oil falls as Isaac seen cutting refinery crude demand - Yahoo! Finanzas México

refinery shutdown = less demand for crude

NEW YORK, Aug 27 (Reuters) - Brent crude oil futures
reversed early gains to fall below $113 a barrel on Monday as
Tropical Storm Isaac shuttered refineries on the U.S. Gulf
Coast, reducing demand for crude.

refinery shutdown = less supply of finished products

While crude prices fell by as much as $2 a barrel, gasoline
and diesel prices both jumped higher due to the threat to
refineries on the Gulf Coast, home to almost 45 percent of
refining capacity in the world's largest oil consumer.

[dfopiso]

According 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.

OT: coal prices are on the down trend for the past 18 months due to slowdown in China. since predominantly coal ang fuel for power, how come price of electricity is going up? some reports said a hydro plant became the price setter in the spot market to the tune of P62/kWh. if that is not greed, well its market opportunity, pero wag namang garapalan

[uls]

the rally has clearly lost momentum

Brent

[uls]

short term support above $111

break below $111 the decline can accelerate

[crazy_boy]

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.

[Ry_Tower]

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.

Overall picture, yes Kasi ibig sabihin mas tatagal pa problem sa US, EU, China and we do trades with them. Slowdow din tayo in the end. Right price, yan hindi ko alam. Si Uls na lang at Mons sumagot. hehe

Brent is hovering at $112, I'm curiuos nga is it hits $111 ay accelerated downfall. Pero if this pricing continue at $112-111, next week dapat price rollback ulit IMO.

[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

[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]

^^

huwag muna

below $115 naman eh

[Ry_Tower]

^ yup, dapat nga may roolback pa if till tom eh hindi lalampas sa $113. Yung presyo ngayon based pa ata sa $114 eh or $115.

[CVT]

^ yup, dapat nga may roolback pa if till tom eh hindi lalampas sa $113. Yung presyo ngayon based pa ata sa $114 eh or $115.

Magkano na ba ang presyo ng krudo diyan sa inyo, bro?...

Dito kasi, lula na ako...

16.8K:laundry:

[Ry_Tower]

Magkano na ba ang presyo ng krudo diyan sa inyo, bro?...

Dito kasi, lula na ako...

16.8K:laundry:

Let's just say P+4.50-5.00 usually. If Brent spot continues at $113, dapat bumaba ng mga P1.50-2.00 diesel IMO.

Correct me if I'm wrong.

[uls]

Let's just say P+4.50-5.00 usually. If Brent spot continues at $113, dapat bumaba ng mga P1.50-2.00 diesel IMO.

Correct me if I'm wrong.

dude the price we follow is not spot price

it's front month futures price. now it's October futures

front month futures is used as reference coz it's the most actively traded

--

August 31, 2012 8:34 AM GMT
(Reuters) - Brent crude futures climbed above $112 per barrel on Friday, on track for a second monthly gain as investors awaited a speech by U.S. Federal Reserve Chairman Ben Bernanke for hints of more monetary easing that could stoke oil demand.

[Ry_Tower]

dude the price we follow is not spot price

it's front month futures price. now it's October futures

front month futures is used as reference coz it's the most actively traded

--

So will we see a rolback by this weekend or not?

[uls]

following oil price isnt the best way to know kung mag rollback or price hike but that's we do coz it's the next best thing. we don't have access to real-time prices of finished products from Singapore

may sariling presyo ang mga finished product and there are times the prices don't move in the same direction as crude oil

kaya may time na rollback ang gasolina pero price hike ang diesel