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Oil Is Plummetting, $67 Level Almost Reached

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http://uk.biz.yahoo.com/04092006/323/oil-p...-68-london.html

Monday September 4, 05:15 PM
Oil price slides below $68 in London
LONDON (AFP) - The price of crude oil has tumbled further in London trading in the absence of a severe hurricane threat and on expectations that Iran would not soon face economic sanctions.
The price of Brent North Sea crude for October delivery slid 1.37 dollars to
67.78
dollars per barrel in electronic trade -- the first drop below 68 dollars since June 21.

:) or :angry: or :blink:

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Remember:

a) oil prices have been high due to unrest in the Middle East and hurricane fears. Those fears are now cooling off for a bit.

B) oil prices usually drop around this time of year as US demand drops until around Christmas.

c) there's a US election coming up in November and Bush needs low oil prices to keep the Republicans in Congress.

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Remember:

a) oil prices have been high due to unrest in the Middle East and hurricane fears. Those fears are now cooling off for a bit.

B) oil prices usually drop around this time of year as US demand drops until around Christmas.

c) there's a US election coming up in November and Bush needs low oil prices to keep the Republicans in Congress.

Sounds plausible to me. Its all manipulation.

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Its all manipulation.

the usual paranoid conspiracies! Recession and HPC postponed for another year!

actually i was talking to some retailers today and they were telling me that business (household goods, home furnishings) , was 40% better than they predicted at the start of the year. It appears armageddon wont' be happening and the bears can creep back into the woods! Business sentiment is much more positive than some on here like to suggest.

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Your talking out of your dark place. Around here (Worcestershire) shops are shutting like it's the new fashion.

Stop trying to spread dis-information with your water-muddying twaddle. It's all coming to a halt and YOU KNOW IT! So stop trying to confuse new forum readers.

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Your talking out of your dark place. Around here (Worcestershire) shops are shutting like it's the new fashion.

Stop trying to spread dis-information with your water-muddying twaddle. It's all coming to a halt and YOU KNOW IT! So stop trying to confuse new forum readers.

Same in the Stratford area. Perpetual sales and empty shops for lease. It will be interesting to see how the 56 registrations went this month.

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Same in the Stratford area. Perpetual sales and empty shops for lease. It will be interesting to see how the 56 registrations went this month.

I went to the mall yesterday with my youngest son and he asked me when the red "sales" signs were going to come down. I told him the signs would come down when the shops go out of business, then they will be replaced with "for rent" sign".

Edited by Pluto

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Guest Alright Jack

Remember:

a) oil prices have been high due to unrest in the Middle East and hurricane fears. Those fears are now cooling off for a bit.

B) oil prices usually drop around this time of year as US demand drops until around Christmas.

c) there's a US election coming up in November and Bush needs low oil prices to keep the Republicans in Congress.

I'd go along with that.

It is interesting to note how oil futures are now doing exactly what is predicted in the Hirsch report upon oil peaking. Oil has moved from below $70 to $78 and back down again in the space of a few months...

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Same in the Stratford area. Perpetual sales and empty shops for lease. It will be interesting to see how the 56 registrations went this month.

things continue to boom in London though . The last vacant shop in the parade near my house has just been let.

You paint too gloomy a picture, things are not bad at all and economic growth is well on target to reach 3% this year, good by any standard. It's not going to suddenly fall off a cliff. Next year analysts say it could be 3.5% growth.

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I am expecting an oil spike for winter/hurricane season. No idea why it said the US uses less oil this time of yr..why not middle summer?? Hell if it drops much further l might get some ETF action for flipping over the winter.

Long term forcast by any measure expects no return to the cheap oil of the late 90's and a gradual increase yr on yr from here on. If it wasnt exposed to the vagaries of cable movements and ForEx charges it might make a nice alternative to long term ISA savings :)

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http://uk.biz.yahoo.com/04092006/323/oil-p...-68-london.html

Monday September 4, 05:15 PM
Oil price slides below $68 in London
LONDON (AFP) - The price of crude oil has tumbled further in London trading in the absence of a severe hurricane threat and on expectations that Iran would not soon face economic sanctions.
The price of Brent North Sea crude for October delivery slid 1.37 dollars to
67.78
dollars per barrel in electronic trade -- the first drop below 68 dollars since June 21.

:) or :angry: or :blink:

oil_trends_by_month.jpg

If oil end the year as low as it is today - it'll still ~$8 up on where it ended last year! I expect the trend over the last few years to continue and oil to end the year just over $70.

Think about it - this time last year we had all sorts of things going wrong and oil got up as high as ~$70... this year we are at similar or in fact higher prices and there hasn't been as many things going wrong!

Edited by clv101

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things continue to boom in London though . The last vacant shop in the parade near my house has just been let.

You paint too gloomy a picture, things are not bad at all and economic growth is well on target to reach 3% this year, good by any standard. It's not going to suddenly fall off a cliff. Next year analysts say it could be 3.5% growth.

You believe NuLabour would never spin figures? Did you notice how the papers over the weekend were trumpeting 'the new BTL is Commercial To Let'? That'll do wonders for the retailer's balance sheets if they succeed in getting a new influx of debt created money into sell and rentback deals. The REITS will also help sustain the retailers of imported goods for a while.

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You believe NuLabour would never spin figures? Did you notice how the papers over the weekend were trumpeting 'the new BTL is Commercial To Let'? That'll do wonders for the retailer's balance sheets if they succeed in getting a new influx of debt created money into sell and rentback deals. The REITS will also help sustain the retailers of imported goods for a while.

precisely . then there'll be another wheeze in 2008. such is life. long term growth here to stay.

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Believe it or not,this pullback is actually GOOD news for those long on commodities like I am.

the reasoning is simple.....the pullback means consumers have more to spend on mindless tat.a feelgood factor is induced....with the added bonus of extraction costs for the raw materials being lower while demand is increased.

the likes of metal producers have had pricing power to raise prices,but have faced a headwind of increased refining costs...now this headwind has abated somewhat.

......this is temporary,once the consumption increase feeds through then we are likely to see another rise in energy prices.

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precisely . then there'll be another wheeze in 2008. such is life. long term growth here to stay.

growth :lol: its end game desparation. The pension funds dumping commercial property onto gullible individuals is not a good sign.

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Could this be the trigger?

:lol:

Hurricane season was a bit of a dud considering how much doom the weather forecasters have been spouting. The drop may well be seasonal at the moment anyway. Can't be good news for perma bears though.

:lol:

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Hurricane season was a bit of a dud considering how much doom the weather forecasters have been spouting. The drop may well be seasonal at the moment anyway. Can't be good news for perma bears though.

The Hurricane sesons got over another couple of months to run. Don't speak too soon.

fatso

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I thought the strong likelihood of Iran trading in Euros any day now meant huge uncertainty in the oil market and a very real prospect of the US bushwacking Iran before May next year (six month build up after elections). I guess oil prices would super peak then?

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Could this be the trigger?

:lol:

Hurricane season was a bit of a dud considering how much doom the weather forecasters have been spouting. The drop may well be seasonal at the moment anyway. Can't be good news for perma bears though.

:lol:

Seriously, don't speak too soon! See this graph:

named-storms-climatology.gif

We are no more than half way through.

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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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