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Realistbear

Oil Breaks Through $78 Again

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http://uk.biz.yahoo.com/09082006/323/world...ars-london.html

Wednesday August 9, 12:29 PM
World oil prices rebound above 78 dollars in London
LONDON (AFP) - Oil prices rallied before the release of data which was expected to reveal that US energy (NASDAQ: USEG - news) inventories had fallen even before BP (LSE: BP.L - news) began shutting the biggest US oil field.
Traders were also monitoring the latest kidnapping of oil workers Nigeria, the biggest producer and exporter of crude in Africa.

There is no way that this can go on without impacting inflation. Merv's comments this morning were to the effect that oil is a concern but that the outcome and effect were unknown. :blink:

Merv knows and IMO he has to control his tongue because there is a wild Scotsman looking over his shoulder ready to smite him over the head with a Sporan if he speaks out of turn.

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:lol::D:lol:

A bad news / good week thing is so unfortunate. Debt based Capitalists i.e. home owners are shafted while those wanting to buy can see hope in the imminent crash.

Kepp the good / bad new rolling RB.

Oil will be the one, 7 of the last 8 financial crises' were over the price of oil. It will be no different this time round. The meaning is out there and the screw is being turned.

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I spotted the first £1 per litre round my way today. That is going to show up in next months inflation figures. Merv may be writing that letter to Gordon earlier than he thinks. :)

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My wife and I have had serious discussions about car sharing due to the effect increased petrol prices have on our finances. Presumably others will be forced to consider alternatives if the price gets too high and this will help restrict demand. This might also have the effect of easing pressure on prices.

And reduced use of fossil fuels will help save the planet :)

I'm off to hug a tree.....

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I spotted the first £1 per litre round my way today. That is going to show up in next months inflation figures. Merv may be writing that letter to Gordon earlier than he thinks. :)

Seen a few too.

I'm buying a diesel car this or next week!

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Might not have been the best time for the FED to take the pressure off rates..... It is not only about inflatio in Oil, another spurt up in commodities will possibly bust the inflation measures wide open this time - not even China being able to absorb an internal labour cost pinch point combined with a raw materials flourish.

CRB9thAug.gif

post-273-1155139618_thumb.jpg

Edited by OnlyMe

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Seen a few too.

I'm buying a diesel car this or next week!

I am wondering about the cost benefit of diesel. I bought a used Audi A4 SE 1.8 last year and would have had to pay about 1500 pounds more for a 1.9TDI version. I do about 8k miles a year. Given that Diesel has been 3p or so more than petrol I don't think I wuld have saved much over 3 years by going to the oil burner. I get about 34mpg overall and the TDI gets about 48 I believe.

If Petrol starts to get above 1.25 I might consider a Honda Jazz which gets about 43 mpg compared with 60 mpg on a diesel Polo or similar--but for about 2000 more.

Might not have been the best time for the FED to take the pressure off rates..... It is not only about inflatio in Oil, another spurt up in commodities will possibly bust the inflation measures wide open this time - not even China being able to absorb an internal labour cost pinch point combined with a raw materials flourish.

CRB9thAug.gif

I think Ben eased off due to the crisis in the ME and the recent stock market problems. A further hike AND hawkish language might have caused some problems. As far as I can see, inflation is just getting started and has not peaked. Maybe 2 years from now but not anytime soon. Gas prices have not worked their way into the system yet and as soon as manufacturers start passing on the true costs of items up up it goes. My guess is that CPI will be around 3- 3.5% by year's end.

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Recent strengthening of the pound against the dollar (or weakening dollar against the pound, whichever way you want to look at it) moderates the effect of the rise in dollar-priced oil for people in the UK?

I drive a Peugeot 1.4 HDI diesel. Does close to 70mg combined, road tax is £50 per year, and one of the lowest insurance bands. Am laughing at all those jokers with 4X4s.

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  • 301 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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