Fuel up/down again

[TW]Fox;23726047 said:
Yup, it's almost at $120 now.

Basically every time 'good news' about the world economy comes out, market speculators buy loads of crude futures contracts so they can resell them at a profit.

Which ends up pushing the price up and invariably ends up ruining whatever 'good news' was coming out about the world economy anyway.

Plus the worse our economy does - not helped by higher oil prices - the lower the value of sterling, which increases fuel price for us even more. Good isn't it?
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Your last point on currency is what its all about, who corners that market is politics and government. Hence any market scam or manipulation is correct but that is where its at

Traders cant force the price to go up when it wouldnt do otherwise. Trying to corner the market has a way of backfiring, just watch Trading Places :D
These brothers 30 years ago took silver from 8 to 50, they went bankrupt
http://articles.businessinsider.com...2_1_silver-price-william-herbert-hunt-playboy
http://www.zerohedge.com/sites/defa...Hurt III - September Issue 1980 - Playboy.pdf

If its a trader he has to find a buyer for his contract, he isnt actually going to take delivery himself or use it. So it comes down to actual demand in the end.

I think they can accelerate the price rise, so it switches from 100 to 120 much faster but they are listening to not dictating the market supply & demand

WIfhM.jpg


Large companies, such as Wal-Mart or Microsoft, are considered to have cornered their markets
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Microsoft is dealing with an exclusive product and oil is not that. Wal mart has generally conquered by offering the lowest prices. That is a maxim for capitalism that outright competition is beneficial to the majority by lower prices or a superior product

Theres so much misdirection in politics, its incredible. Like this clip Obama is almost saying the total opposite of the truth but not one newspaper Ive seen putting up an argument to that

US treasury used to make coins out of silver and copper like we did once, silver dimes. If people paid using just those plain old coins, the petrol is the same value or less.


1964 cost of a gallon gas is at most 27 cents or least 16 cents or 2.7 to 1.6 dimes to buy
2013 cost is $3.80 to $3.37 or 1.67 to 1.48 dimes to buy a gallon in New Jersey

6.6 billion of these dimes were issued as ordinary currency, this is a plain simple point to make nothing technical or specialist about it.
They are still in circulation, you walk into a bank and ask the teller for one. Its a slight point because its become rare but you can buy a gallon for 2 dimes, hence making Obama and all similar arguments in favour of deficit spending, against free markets, manipulating currency to fund budgets, etc are almost exactly incorrect
Unless some dramatic reversal happens, I think we'll be repeating these observations until its £2 a litre

http://www.measuringworth.com/
http://wiki.answers.com/Q/How_much_did_gasoline_cost_in_1964
http://www.coinflation.com/coins/1946-1964-Silver-Roosevelt-Dime-Value.html
 
I filled up at a BP station for the first time ever today. Their pump didn't work properly and the attendants were complete morons who didn't understand why I was unhappy that the pump died half way through filling. I won't go again, cool story I know.
 
The IEA lowered its forecast for natural gas liquids supply from countries in Opec, the oil producers’ cartel that includes Algeria, by 100,000 barrels a day in the first quarter of 2013.

The price of the global benchmark Brent crude oil has rallied strongly this year, with futures hitting a nine-month high of $118.96 on Wednesday amid optimism over the global economic recovery.

The rally in Brent has also been helped by cuts in Saudi supply, which fell from a 30-year peak of 10m b/d last summer to 9.25m b/d in January.
Aggregate Opec crude oil output fell 100,000 b/d to a 12-month low of 30.34m b/d in January, according to the IEA.

Reduced supply meant Opec spare capacity topped 4m b/d for the first time since late 2011 in January, according to the IEA.

That would normally be a bearish sign for the market but the IEA said the market may be discounting spare capacity because of the security concerns in north Africa.

“Opec is becoming a repository of spare capacity but also a focus of growing security concern lately and this may change market perception of what that spare capacity really means,” Antoine Halff, one of the authors of the IEA report, said.

The Paris-based IEA trimmed its forecast for global crude oil demand this year, warning that “weak macroeconomic conditions are forecast to keep global oil demand growth capped . . . despite signs of improvements in China and the US”.

Global oil demand is forecast to grow at 840,000 b/d in 2013, 90,000 b/d less than the IEA had forecast in January.

Iranian output fell 50,000 b/d from December to a fresh three-decade low of 2.65m b/d in January as sanctions continued to bite, according to the IEA.
Exports in January may have been less than 1m b/d, according to a preliminary estimate – a sharp fall from an upwardly revised 1.56m b/d in December.

The IEA said Chinese imports from Iran slumped from an estimated 595,000 b/d in December to 200,000 b/d in January.

The IEA also said Iran missed out on about $3.4bn a month in export revenues in 2012 compared with 2011, as exports fell 1m b/d to an average of 1.5m b/d.

Iraqi supplies hovered at six-month lows as a stand-off between the Kurdistan regional government and Baghdad led to a sharp fall in exports of Kirkuk crude oil from the north of the country.

The price of Brent has rallied 7 per cent this year, in tandem with other perceived risk assets such as equities.
The Paris-based IEA said the rally reflected activity by financial investors as well as supply and demand dynamics. “Investor appetite for stocks and commodities and record open interest in ICE Brent futures are also driving bullish sentiment.”
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http://link.ft.com/r/3JFELL/XBCVW4/10TH4/16PMVT/Z8WMHM/4O/h?a1=2013&a2=2&a3=13

Sounds like Saudis supply a third of all the OPEC oil, amazing. Iraq would be a larger producer if they could stop fighting and update gear from 1950, that is the one real hope for lower prices in future imo
 
Shell services on the A14 134.9, Esso station in St Ives 139.9

Prices are going up, but within a short area they vary by 5-6p a litre!
 
prices are that bad that i have been out and bought my first ever owned diesel car.
now i drive the speed limits everywhere or even a tad slower to get the most mpg that i can.

sick of the prices of fuel.
 
platts price has jumped since xmas.

Unl 9ppl and diesel 7ppl, this is still being passed onto customers.

140.9/144.9 would make a site around 3ppl gross profit on todays price.
 
prices on the rise again and near me 2 shell garages have closed, one is now a BP station the other is being ripped up, if it carries on I will only have Tesco n asda in my town
 
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