Oil Price Watch

[Ry_Tower]

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

Thanks.

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[uls]

brent closes near $115

those who kept bidding at $112 betting on Fed stimulus made money

supply and demand my ass

the market cares more about monetary policy

[renzo_d10]

Yup. $114.92 na nga.

[Ry_Tower]

^ No price rollback this weekend then.

[uls]

explain to the public daw

Palace wants Energy Dep't to explain latest LPG price hike | News | GMA News Online | The Go-To Site for Filipinos Everywhere

Malacañang said Sunday the Department of Energy should explain to the public the latest burden on consumers, a price hike in liquefied petroleum gas (LPG) this month.

Deputy presidential spokesperson Abigail Valte said the Palace cannot do much to interfere with the pricing of the products as the industry is deregulated.

“We will leave it to the DOE to explain...ano nangyari sa increase ng LPG, ano ang specific dahilan bakit nagkaroon ng increase,” she said on government-run dzRB radio.

On Saturday, some LPG dealers raised the prices of their products. One firm hiked prices by P6 per kilo, adding P66 to the price of an 11-kg tank. Another jacked up its prices by P7.84 per kilo to add P86 per 11-kg tank, the report said.

[uls]

the Phils. buys LPG from Saudi Arabia, Qatar, UAE

Saudi Sep LPG contract price hike signals supply tight for export: sources - Petrochemicals | Platts News Article & Story

Saudi Sep LPG contract price hike signals supply tight for export: sources
Singapore (Platts)--29Aug2012/517 am EDT/917 GMT

Saudi Aramco's move to hike its September Contract Prices for propane and butane by $155-195/mt indicates it is short of LPG for export as its supply is increasingly diverted to the kingdom's growing petrochemical sector, traders said Wednesday.

Some market sources cautioned the high CPs would be too costly for end-users already grappling with a slowing global economy and limited demand, and could trigger a price correction.

Saudi Aramco Tuesday set its September Contract Price for propane at $970/mt, up $195/mt from its August CP, and butane at $930/mt, up $155/mt from August. The propane CP was above market expectations of $940-950/mt.

It is the second month in a row that Saudi Aramco has raised the CP for propane and butane, after hiking both August CPs to $775/mt, from $575/mt for propane and $620/mt for butane in July. It is also above the CPs for September last year at $790/mt for propane and $865/mt for butane.

[Ry_Tower]

Natakot sa bad news from China.

[niky]

explain to the public daw

Palace wants Energy Dep't to explain latest LPG price hike | News | GMA News Online | The Go-To Site for Filipinos Everywhere

Yeah... because the public actually understood the explanation for (oil/gas/diesel/LPG) price hikes all those other times...

[uls]

Natakot sa bad news from China.

but holding up pretty well. won't even fall below $114

where was it before Bernanke's speech? $112

[Ry_Tower]

but holding up pretty well. won't even fall below $114

where was it before Bernanke's speech? $112

Sabagay. I'm curious though when the market will show they need more concrete plans from the Fed. Kapag nag-start magtanong market baka bumaba if hindi masagot satisfactorily IMO.

[uls]

so far the market seems satisfied with assurance from Bernanke that he will act if the US economy deteriorates further

that assurance alone already keeps oil price from crashing

[pop3corn]

Gago kse sila eh, sobrang nila hinedge ang commodity na oil eh, Kaya nowhere to go but up ang prices, pag bumababa ng konti yare din ang economy.

ang Hirap yan artificially eh lagi nila pinapataas ang Lagis thru some world event or crisis, why bec they're trying to protect their money sa investments.

The problem is with the advent of computers, people all over the world can cut spending at enjoyin na Lang and efficient benefits ng computer age. the more na tinataas. Nila yan oil, the more people will tighten belts, and therefore no cash flow or spending, and therefore hurt economy.

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Hindi PERa ang nagpapaikot sa mundo, kundi pure kinetic energy ng bawat Tao na gumagalaw, kumikilos at nagtrabaho. That's the money maker, the problem with making money out of money is dependent Ito sa amount raw labor or movement ng Tao. Curtail that with skyrocketing prices, and people will just stay at home and be satisfied with just the benefits of the Internet.

Sent from my iPad using Tapatalk

[uls]

like i said, the market cares more about central bank monetary policy

ECB's Draghi says ECB can buy 3 yr bonds

[uls]

OB, when you have central banks planning to flood the world with fiat money natural tendency of fiat money holders is to hedge against dilution

where can you hedge? equities, commodities

[uls]

[uls]

Asian Chemical Connections

A barrel of Brent crude oil cost $88.49 a barrel in June. Yesterday, it was trading at $116.55 a barrel.

In the intervening period the global economy has substantially weakened, most notably in the case of China, as the problems that have been identifiable since late last year have become widely recognised.

China's official GDP growth is likely to be around 7 percent this year, close to the government's targets, says Glenn Maguire, chief economist at the Sydney-based economic consultancy Asia Sentry Advisory.

But he warns that real, underlying GDP growth could fall to 3-5 percent in 2012, reflecting what the polymer markets are telling us.

And yet the oil price has rallied, resulting in the Group of Seven industrially advanced nations urging oil producers in late August to "increase their output to meet demand".

The problem, as China illustrates, however, is that the oil-price rally has little to do with demand. As we discuss in Chapter 3 of our book, Boom, Gloom & The New Normal, oil prices are about speculation. The increases over the last few days are, for example, about excitement that the Fed might be about to give speculators another free lunch to gamble with even more stimulus money.

[eminem6480]

Effective yesterday, 04 September 2012, most of the oil companies implemented a decrease of P0.90/l for gasoline and P0.20/l for regular gasoline. There was no adjustment effected on diesel.

Oil Price Monitor

[ZENMasterTYL]

pwede na ulit magpa gas

[Ry_Tower]

An just like that, oil futures prices dropped below $114.

[uls]

still above pre-bernanke-jackson-hole-speech level

considering weak PMI numbers showing global manufacturing slowdown oil price should be crashing. but it's not. it's stuck in a +/- $1-$2 range

economic reality should be pulling down the price of oil to $100 or below... but anticipation of stimulus from major central banks is holding up oil price