Oil is going up again

[OverVolt]

And in less than 24 hrs., oil declines again....



http://www.reuters.com/article/us-global-oil-idUSKCN0VW03S


I doubt we'll see a steady upward trend in gas prices for maybe a year or so.

Well yea you can store it and nobody buys it. They'd rather try and sit on it until prices go higher but it'll just keep the price low for a very long time.

 

[dank69]

Oprick is part of it and the fact fracking is down right now.

 

[dud]

http://www.reuters.com/article/us-usa-stocks-idUSKCN0VV17T

This, in a way is a good thing but doubt it is sustainable in the long run. With many of the World's top producers cash-hungry and wanting to pump as much as possible, the price will probably remain low (less than $50 per barrel) for some time.

The rise in oil prices sure has helped the market recently ...

 

[Sonikku]

A lower gas price means a lower cost of doing business.


I am certain vendors will be probably possibly be passing the savings onto the customer potentially.

 

[dank69]

A lower gas price means a lower cost of doing business.


I am certain vendors will be probably possibly be passing the savings onto the costumer potentially.

Yeah but how many people will that affect? Probably only movie production and performing arts...

 

[OutHouse]

A lower gas price means a lower cost of doing business.


I am certain vendors will be probably possibly be passing the savings onto the customer potentially.

let me know when the airlines adjust prices for lower fuel cost to same rate as they raised it for higher fuel cost.

 

[holden j caufield]

FYI if oil is so cheaper why aren't all the petroleum products I buy cheaper now, when the cost of oil was sky high they raised airlines fees, all food prices went higher because of the high transport costs. Oil is dirt cheap now but none of those costs have gone down.

 

[norseamd]

Conversation: No Good Options For Raising Oil Prices

https://www.youtube.com/watch?v=YU_zYIPUAFY

 

[norseamd]

FYI if oil is so cheaper why aren't all the petroleum products I buy cheaper now, when the cost of oil was sky high they raised airlines fees, all food prices went higher because of the high transport costs. Oil is dirt cheap now but none of those costs have gone down.

But why do you hate the trickle-down and America?

 

[SunnyD]

A lower gas price means a lower cost of doing business.


I am certain vendors will be probably possibly be passing the savings onto the shareholders potentially.

FTFY.

 

[dud]

A lower gas price means a lower cost of doing business.


I am certain vendors will be probably possibly be passing the savings onto the customer potentially.

I love this. You are "certain" that vendors will "probably", "possibly" and "potentially" pass on the savings of low oil prices. I don't know about anyone else but the ONLY place that I've seen it is at the pump. Food prices keep going up faster than inflation as are most other items that (at least) partially have a transportation cost associated with them.

Where's the savings?

 

[IHateMyJob2004]

let me know when the airlines adjust prices for lower fuel cost to same rate as they raised it for higher fuel cost.

Read up on what hedging is, then think about how they would price flights in a highly competitive environment.

 

[mikeymikec]

On the news lately the general line has been that low oil prices are bad for the world economy. I don't understand this, surely it's the opposite?

 

[dank69]

It's almost like people have forgotten the type of poster that Sonikku is...

 

[dank69]

FTFY.

You forgot to remove possibly, probably and potentially.

 

[dank69]

On the news lately the general line has been that low oil prices are bad for the world economy. I don't understand this, surely it's the opposite?

It's fucking with a lot of countries that rely heavily on oil exports.

 

[mikeymikec]

It's fucking with a lot of countries that rely heavily on oil exports.

Ah, I should've thought of that

 

[ponyo]

I'm seeing some cheaper airfares for longer international flights. Last March, I booked 3 seats to Seoul, South Korea for $1,600 a seat. For this March, I booked 3 seats to Seoul, South Korea for $885 a seat. Last June, I booked 2 seats to Seoul for $2,300 a seat. For this June, I can book it for $1325 a seat.

 

[NikolaeVarius]

On the news lately the general line has been that low oil prices are bad for the world economy. I don't understand this, surely it's the opposite?

Because the behavior of the price of oil is causing people to fear that there is something wrong with the global economy.

If you were thinking of buying a car and then for no reason at all the MSRP of that car drops 90%, would you buy it right away or would you suspect that something was wrong somewhere?

 

[herm0016]

On the news lately the general line has been that low oil prices are bad for the world economy. I don't understand this, surely it's the opposite?

And it's bad for consumer spending. When the income of 5ish % of the work force goes down, so does spending. also, when you lay off 250k + people.

 

[ponyo]

There are some who think the recent world stock market decline was partially caused by sovereign wealth funds of oil nations selling some of their massive equity holdings to raise cash to finance the shortfall from low oil prices. Sovereign wealth funds hold lot of equity and real estate property but stocks are far more liquid than real estate. If oil prices stay low, it will continue to put pressure on equities and high end real estates as sovereign wealth funds continue their selling to raise cash.

 

[slag]

http://www.reuters.com/article/us-usa-stocks-idUSKCN0VV17T

Wall St. stumbles as oil resumes slide is the title today. Should change your post to reflect this.

 

[mikeymikec]

I wonder how much oil money really "trickles down".

 

[momeNt]

I wonder how much oil money really "trickles down".

Very little that's why middling OPEC countries are breaking apart OPEC and not following King Saud's decree. Because they get none of King Saud's money.

 

[Meghan54]

Oil prices tumbled 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out production cuts, and extended losses after settlement when a U.S. industry trade group API said domestic crude stockpiles swelled by more than twice what analysts had expected.

The American Petroleum Institute (API) said crude inventories rose 7.1 million barrels in the week to Feb. 19 to 506.2 million, far exceeding analysts' expectations for an increase of 3.4 million barrels.

http://www.reuters.com/article/us-global-oil-idUSKCN0VW03S


So, how long before oil actually falls to the $20/bbl range?