Oil is holding steady at $107 USD and the NZD is weaker than my resolve to give up potato chips.
Could we see double digit inflation in NZ by the end of the year?
Spiking oil prices is not a good thing. Oil is in everything. So high inflation will prevail at least until 2024. Hope oil is not going to hit $150 or $200.
https://www.reuters.com/business/energy/france-wants-iran-venezuela-return-oil-markets-2022-06-27/
Oil is back to $70. Industry Analysts were wrong.
Quote from: Mr Cashflow on Jun 11, 2023, 05:18 PMOil is back to $70. Industry Analysts were wrong.
Nobody can predict the future. Neither analysts nor anonymous posters on some internet forum ;)
Quote from: BlackPeter on Jun 12, 2023, 09:07 AMNobody can predict the future. Neither analysts nor anonymous posters on some internet forum ;)
Greta can. We have 9 days left apparently.
Quote from: arekaywhy on Jun 12, 2023, 10:49 AMGreta can. We have 9 days left apparently.
I doubt she said that. Did she?
Quote from: BlackPeter on Jun 12, 2023, 09:07 AMNobody can predict the future.
Nonsense. Anyone with a modicum of cognitive ability and an ability to communicate can make a prediction.*
I predict you will make the statement quoted above, or similar, at least as many times as you have already made it in online forums. I also predict in future such statements will contain a qualification.
;)
Back on the subject of oil: futures are great at predicting future prices of commodities.
https://www.marketwatch.com/investing/future/cl.1/charts
*Although such predictions may or not be correct.
Saudi Arab Light Blend almost $100 a barrel, Article on how its priced.
https://archive.ph/rFYvN
I'm getting scared at the cost of filling my boat up this summer. It isn't going to be cheap that's for sure.
Quote from: Basil on Sep 15, 2023, 04:43 PMI'm getting scared at the cost of filling my boat up this summer. It isn't going to be cheap that's for sure.
Luckily it doesn't hit a poor man :) ;
Quote from: Basil on Sep 15, 2023, 04:43 PMI'm getting scared at the cost of filling my boat up this summer. It isn't going to be cheap that's for sure.
Maybe use the Z sharetank thing and do a bulk purchase now?
Quote from: Stoploss on Sep 15, 2023, 09:21 PMMaybe use the Z sharetank thing and do a bulk purchase now?
Sharetank is great. You can save lots.
Yeah I thought about joining up with the Z sharetank thing just before the 25 cent + GST excise levy was reinstated but was flat out at the time and didn't get around to it.
It's going to be very cruical period for the oil market.
Curent drop in oil prices is not a good sign. It could be due to anticipated recession.
https://oilprice.com/Energy/Energy-General/Saudi-Arabias-Next-Move-Could-Hit-Oil-Prices-Hard.html
Quote from: Mr Cashflow on Apr 14, 2025, 07:07 PMCurent drop in oil prices is not a good sign. It could be due to anticipated recession.
https://oilprice.com/Energy/Energy-General/Saudi-Arabias-Next-Move-Could-Hit-Oil-Prices-Hard.html
Actually - I think it just shows the market at work. Remember "drill, baby drill" form the orang running the white house? Saudi Arabia just wants to stifle the new competition. The lower they drop the oil price, the harder it will be for Dumbs drillers to make a dollar from their newly drilled wells. Normal price war to keep out new competitors.
Of course are we as well likely to run into a Dumb's recession - markets hate the extreme uncertainty he keeps dangling around, but the dropping oil prices are in my view neither causing nor indicating this recession, they even might soften it a bit.
https://invezz.com/news/2025/04/13/brent-crude-oil-price-forecast-3-reasons-it-will-crash-to-45-in-2025/
Oil price is holding up even after OPEC has opened the floodgates.
I hold positions in a few oil and gas juniors, more as an overall bet on increasing energy demand.
Humans are energy pigs.
Oil price might tank if they agree to a peace deal. Might drop below $ 60. Shorting oil may be a life time opportunity but risk is very high.
It could also go to 150 if the fireworks start up again and oil infrastructure is targeted
Unlikely before Donald visits china
But who knows. Hopefully a peace deal is agreed on soon
Well Chump's the non productive visit is over and oil is heading up again. Electric vehicle economics have never looked better.
Deamnd destruction is happening. Chinese demand for oil has dropped significantly.