Oil Price thread - Page 6

seven · #51 (**permalink**) 11th-April-2006, 02:37 PM

Crude oil prices have hit record levels in London amid heightening concerns of a conflict between the US and Iran.

A barrel of London's benchmark Brent crude climbed to $69.70, while in New York, light sweet crude was at $69.45.

http://news.bbc.co.uk/1/hi/business/4898196.stm

#52 (**permalink**) 12th-April-2006, 09:33 AM

Many people I listen to think oil will fall to $40 a barrel this year. Looks good to me. The fewer people who know the future the better for those of us who do. There are only so many seats on the lifeboats. Some people are deluding themselves.

#53 (**permalink**) 12th-April-2006, 09:41 AM

A collapse of the price to $45 is indeed possible, but I would say you do not want to be in the world of $45 oil.

Scenario: 1981-like economic crisis which puts a lot of people out of work, and keeps them from commuting and consuming.

#54 (**permalink**) 14th-April-2006, 07:27 AM

http://www.bloomberg.com/markets/com...rgyprices.html

Brent is over $70 for the first time ever.

#55 (**permalink**) 14th-April-2006, 07:38 AM

Quote:

Originally Posted by hefler

http://www.bloomberg.com/markets/commodities/energyprices.html

Brent is over $70 for the first time ever.

At about the same time NYMEX crude had a selloff which dropped the price from $69.45 to $68 in the space of about a half hour. Easter profit taking, I suppose.

#56 (**permalink**) 14th-April-2006, 07:46 AM

These prices are only because of the Iran situation though right?

#57 (**permalink**) 18th-April-2006, 09:44 AM

The BBC seem to think so - http://news.bbc.co.uk/go/rss/-/2/hi/...ss/4917506.stm

Currently over $70 and are approaching the 2005 high

david16 · #58 (**permalink**) 12th-May-2006, 07:55 AM

The price of oil topped $73 a barrel on Thursday, amid fears that maintenance work on refineries could reduce petrol supply in the US.

http://news.bbc.co.uk/1/hi/business/4762901.stm

#59 (**permalink**) 23rd-June-2006, 10:29 PM

Oil edged down on Friday after a gasoline-led rally, but supply risks from the closure of a shipping channel in the United States to a strike by oil service workers in Norway provided support.

U.S. light crude <CLc1> for August was down 16 cents at $70.68 a barrel by 0400 GMT, having risen by $1.50 over the last two sessions in a gasoline-led rally. London Brent crude <LCOc1> traded 18 cents lower at $69.77 a barrel.

http://today.reuters.com/News/newsAr...ARKETS-OIL.xml

arno · #60 (**permalink**) 28th-June-2006, 10:09 PM

Oil edged above $72 a barrel on Wednesday on concerns over disruptions to gasoline supply during peak summer demand in the world's top consumer the United States.

U.S. crude was up 23 cents at $72.15 a barrel by 0720 GMT, adding to gains of more than a dollar this week. London Brent crude rose 22 cents to $71.20.

http://abcnews.go.com/Business/wireStory?id=2127590