Oil. Biggest 1 day hike.
22 September 2008, 09:29 PM
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Oil. Biggest 1 day hike.
The price of oil has jumped by more than $16 to $120.92 a barrel, the biggest one-day gain on record.
BBC NEWS | Business | Record one-day jump in oil price
BBC NEWS | Business | Record one-day jump in oil price
22 September 2008, 09:52 PM
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Funny 'cause on the BEEBs own commodities page it shows $101?
BBC NEWS | Business | Market Data | Commodities
BBC NEWS | Business | Market Data | Commodities
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23 September 2008, 09:56 PM
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We're being screwed aren't we? Prices at the pump were shooting up almost by the hour as cost of oil was rising, then it went down & not much changed at the pump 
No doubt the pump prices will be rising again now
TX.
No doubt the pump prices will be rising again now TX.
04 October 2008, 11:18 PM
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On Thursday, prices closed at their lowest level in two weeks, tumbling below $94 a barrel on doubts that a revamped bailout plan will be enough to avoid a protracted economic slump. Settling at $93.97 a barrel, the price was the lowest since Sept. 16.
Good job Mart does not work for your pension fund
05 October 2008, 09:12 AM
#11
Supply and demand, regardless of the credit crunch, the Indian and far east demand hasn't dropped at all. In many developing countries, the governments continue to subsidise oil costs to the end consumers allowing these countries to continue to develop.
05 October 2008, 10:13 AM
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05 October 2008, 11:32 AM
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I see you're in Aberdeen. Vested interest clouding your judgement?
I wouldn't be surprised to see $60 oil within the next couple of years.
05 October 2008, 07:13 PM
#15
You're presupposing that >$100 oil is based solely on supply and demand. You're also failing to account for the effects of a worldwide recession on demand.
I see you're in Aberdeen. Vested interest clouding your judgement?
I wouldn't be surprised to see $60 oil within the next couple of years.
I see you're in Aberdeen. Vested interest clouding your judgement?
I wouldn't be surprised to see $60 oil within the next couple of years.
Vested interest? maybe, or maybe it's just that I read a lot of articles trying to understand what's driving crude prices.
You say $60 in the next 2 years, the economists are saying $160 - $200, I think if it hovers around $100 we'll be doing well.
05 October 2008, 08:04 PM
#17
According to a recent article I read, oil in the North Sea, now that it's a mature area, costs close to $60 per barrel to extract and get it to the point where it's sold - at that point the government adds tax and whoever buys it pays carriage. Can't see $60 ever happening again, if it does it cripple the UK oil business and the government won't get their billions in taxes.
06 October 2008, 01:01 AM
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You mean the traders
According to a recent article I read, oil in the North Sea, now that it's a mature area, costs close to $60 per barrel to extract and get it to the point where it's sold - at that point the government adds tax and whoever buys it pays carriage. Can't see $60 ever happening again, if it does it cripple the UK oil business and the government won't get their billions in taxes.
According to a recent article I read, oil in the North Sea, now that it's a mature area, costs close to $60 per barrel to extract and get it to the point where it's sold - at that point the government adds tax and whoever buys it pays carriage. Can't see $60 ever happening again, if it does it cripple the UK oil business and the government won't get their billions in taxes.
06 October 2008, 07:32 AM
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North Sea oil 'will last for another half century' | Mail Online
Explaining the size of reserves in the North Sea, Alex Kemp, professor of petroleum economics at Aberdeen University, said: 'There is still a substantial amount left. The remaining reserves on central estimates could be 20-22billion barrels equivalent, and on optimistic estimates could be over 30billion.'
Professor Peter O'Dell, of the Erasmus University in the Netherlands, agreed.
Professor Peter O'Dell, of the Erasmus University in the Netherlands, agreed.
06 October 2008, 01:23 PM
#21
According to this site they think the price of oil will keep dropping due to less demand ???
BBC NEWS | World | Middle East | Oil price dips below $90 a barrel
BBC NEWS | World | Middle East | Oil price dips below $90 a barrel
16 October 2008, 10:14 PM
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16 October 2008, 10:34 PM
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Your Prime Minister is on the case, don't panic!
BBC NEWS | Politics | Brown warning over petrol prices
BBC NEWS | Politics | Brown warning over petrol prices