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Realistbear

$100 Oil Almost With Us As Markets Works Itself Into A Frenzy

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http://www.telegraph.co.uk/finance/newsbysector/energy/8254824/Oil-price-heads-for-100-a-barrel-on-Alaska-leak.html

Oil price closes in on $100 a barrel on higher demand and Alaska leak
The oil price moved closer to $100 a barrel, with Brent crude passing $98 in morning trading, on the expectation of higher demand this year and a leak in Alaska which closed down a major pipeline.

More leaks should take it over the $100 mark. How far will it go this time? My guess about $147.00 and then cometh a recession from hell, or heaven depending on what you want to buy.

In the meantime stock up on oil stocks muchachos y muchachas!

Edited by Realistbear

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Didn't we have all this in 2007 - "higher demand, China, etc etc."

Turned out it was just a pump and dump by the hedge funds.

I think so. The traders need to work people into a frenzy to make money on the shorts/longs etc etc.

Overall, I suspect deman is decreasing due to cost--especialy in this country and probably most of the EU.

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Hope it gets to £2 a litre at the pumps soon, should price a few lazy folk out of their 2 tonne steel overcoats now and again.

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Hope it gets to £2 a litre at the pumps soon, should price a few lazy folk out of their 2 tonne steel overcoats now and again.

Ventured out on the old cycle today as the weather was relatively mild and couldn't believe the amount of traffic. High prices don't seem to be deterring anyone, and of course all the driving, is hard to the floor pedal and braking, pedal to the metal, with engines revved to the max.

No one drives with economy in mind any more, but purely to intimidate any other user not wearing a steel overcoat.

Filled up the Citroen today Cost an eye watering £85.10 @ 1.29/litre at the Shell garage for regular diesel, 600 miles or about 3 months driving for me.wink.gif

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Rising oil prices have always caused the economy to stagnate. I dont see it being any different this time, unless someone comes up with a cheap oil alternative.

If the UK economy slows down, what is that going to do to the deficit? All those tax receipts through the floor. All those index linked benefits, up, paid for by a diminishing, in total income terms, private sector.

Portugal just went belly up, not due to the size of its debt, but due to its growth prospects. Do the maths on someone who is indebted, and they can service that debt much more easily when income is rising. Turn that growth into decline, and the maths goes the other way. It isnt just Joe Leadfoot's at the pumps who are going to feel the pinch over this one.

Is an interest rate rise tomorrow now inevitable? If not, will keeping interest rates at 0.5% seem perhaps the bizarest folly yet by the Bank of England?

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Is an interest rate rise tomorrow now inevitable? If not, will keeping interest rates at 0.5% seem perhaps the bizarest folly yet by the Bank of England?

The way the Pound is rising I'm starting to wonder if a rate rise is on the cards. Guess we'll see tomorrow.

The odds on BetFair are not looking very good for it though.

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The way the Pound is rising I'm starting to wonder if a rate rise is on the cards. Guess we'll see tomorrow.

The odds on BetFair are not looking very good for it though.

The inside money are unlikely to declare their knowledge by hitting betfair for six. That means great returns for small scale punters if they place a bet, and the BofE do the right thing.

My guess though is that the BofE will keep things as they are.

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The way the Pound is rising I'm starting to wonder if a rate rise is on the cards. Guess we'll see tomorrow.

The odds on BetFair are not looking very good for it though.

Sterling was up on the trade figures for some strange reason

http://uk.finance.yahoo.com/news/Pound-near-1-month-high-vs-reuters_molt-1552898962.html?x=0

Britain's trade gap widened to 8.736 billion pounds in November (Berlin: NBXB.BE - news) from an upwardly revised 8.591 billion pounds in October. Imports of oil and aircraft pushed the trade deficit to its biggest since monthly records began in January 1980, contrasting with expectations for a modest narrowing.
"Those numbers took out a bit of steam from sterling, but overall it remains resilient," said Michael Hewson, markets analyst at CMC (CMC.BO - news) .

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I doubt we will see IRs rise in 2011 at all - nothing.

They are hell-bent on saving house prices at the cost of all else. So fuel, insurances, etc, rise and the end result will be people living on baked beans and spending less on clothes, gadgets, holidays, etc.

Btw, I bought some tins of Branston baked beans and every can I have opened has had the top quarter just filled with juice.

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Ventured out on the old cycle today as the weather was relatively mild and couldn't believe the amount of traffic. High prices don't seem to be deterring anyone, and of course all the driving, is hard to the floor pedal and braking, pedal to the metal, with engines revved to the max.

No one drives with economy in mind any more, but purely to intimidate any other user not wearing a steel overcoat.

Filled up the Citroen today Cost an eye watering £85.10 @ 1.29/litre at the Shell garage for regular diesel, 600 miles or about 3 months driving for me.wink.gif

Plus, all developments and exploration potentially leading to further developments still in deepwater Gulf of Mexico on hold because of Obama's complete overreaction to Macondo will lead to a shortfall in us production for next few years, high pump prices in November 2012 will do for Obama.........

Still, being in drilling game, all good for me. Dayrates above 1K/ day already and industry so short of people it's unreal, this is only the start.

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Btw, I bought some tins of Branston baked beans and every can I have opened has had the top quarter just filled with juice.

The inflation you cannot see but can hear - hungry belly.

Schiff was going on about this a couple of Radio Shows ago, quite a few products are going down in size but remaining at the same price.

I guess the Sheeple will get it when a loaf of bread is the size of a postage stamp and everything they eat tastes like sawdust :lol:

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Sterling was up on the trade figures for some strange reason

Maybe we are moving away from the export led recovery and onto the import led recovery? I'm losing track these days :blink:

Edited by MrFlibble

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So RB, are.you still a deflationista? Still holding cash? I think oil will go to much higher than 147 USD. The human appetite for cheap energy is unbelievable. What do people do when they think there's a shortage? They buy more!

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Tunisia Rioting Escalates, Hits Capital As More Are Killed While Protesting Surging Unemployment And Food Prices

http://www.zerohedge.com/article/tunisia-rioting-escalates-hits-capital-more-are-killed-while-protesting-surging-unemployment

Virtually every US media continues to ignore the situation in Algeria and now Tunisia, where rioting predicated by high unemployment (read massive economic slack) and surging cost of living (but, but, didn't you just say massive slack??? how the hell can cost of living be up if you have "massive" slack? that's unpossible - the San Fran Fed has said so repeatedly), especially food prices, has just escalated once again. According to RFI, Tunisian rioting has spread to the capital, following more protesters (killed by the Police), and where a curfew has just been imposed. "Weeks of unrest in Tunisia have spread to the capital, where the heaviest protests took place on Wednesday. Police opened fire on a demonstration in the central town of Douz, killing two, the AFP wire service reports." And, lo and behold: even in Tunisia politicians are accountable when surging prices lead to death: the Tunisian interior minister was sacked earlier in an attempt to placate the rioters. Alas, no such luck:

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Doomberg reporting all is well and the dollar fall is due to the EU CONTAINING the soveriegn debt crisis.

I am reassured.

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So RB, are.you still a deflationista? Still holding cash? I think oil will go to much higher than 147 USD. The human appetite for cheap energy is unbelievable. What do people do when they think there's a shortage? They buy more!

IMO the entire world PONZI is headed for a crash--then comes deflation.

As of now, the bubbles are refilling at a pace that is unsustainable in the medium to long term. Commodities are flying high just as China begins its wobble. Oil is flying as more and more pople cannot afford last year's prices let alone post 20% vat hike prices.

In this country we have prices out of control and wages decreasing. Not a good mix for continued growth.

It will blow up very soon--the banksters are clearing the tills before it happens.

Edited by Realistbear

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IMO the entire world PONZI is headed for a crash--then comes deflation.

As of now the bubbles are refilling at a pace that is unsuatinable in the medium to long term. Commodities are fklying high just as China begins its wobble. Oil is flying as more and more pople cannot afford last yuear's prices let alone post 20% vat hikes.

In this country we have prices out of control and wages decreasing. Not a good mix for contiued growth.

It will blow up very soon--the banksters are clearing the tills before it happens.

Cool. I was getting worried there for a moment. :)

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Actually, the end result of either a deflation or a hyperinflation is the same.

One ends with a recovery, the other ends with months if not years of REAL suffering and death, then a recovery.

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Citroen C5 2.2 HDI

Have to mention, when I had my 406 2.0HDi I would normally beat 700 miles if commuting down country lanes, 800 if some motorway driving was involved..

I'm really facing a dilemma; I like my current car (Mondeo 1.8 Zetec, don't all laugh), but it is getting stupidly expensive to run. 400 miles from a £65 tank as long as the temperature is perfect, there is no traffic and I don't use the right hand pedal..

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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