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Oil Price
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Livermore
Master |
23-Oct-2008 21:44
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I just don't think there is a cycle any more for oil. When the global economy recovers it is going to shoot back up. If they don't find suitable alternative fuel, a oil crisis is very real. Well I am not sure if that will happen in my life time
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teeth53
Supreme |
23-Oct-2008 21:33
Yells: "don't learn through life, learn to grow with life " |
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Good news is....Bad news for electricity going up by 21% ++ for this Q. Oct-Dec 2008. Bad news....Ya. Working on US155 per barrel. on the revision in the electricity tariff, a more common sense idea approach to sell it tariff increases (none option) to all general public and it citizens need to be more elaborated. I believe some may not afford to pay more for those poorer citizens when those bills reach them this 4th Q (Oct - Dec 2008).
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HLJHLJ
Veteran |
23-Oct-2008 21:33
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Low oil is good for everybody, economy too! It is a cycle. Hope will be like good old days of 1.1 per litre for car. | ||||
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cathylmg
Elite |
23-Oct-2008 21:26
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But hor, utilities bills still so high leh....
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teeth53
Supreme |
23-Oct-2008 21:15
Yells: "don't learn through life, learn to grow with life " |
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Pump prices in S'pore have gone down again as global crude oil prices continue to drop. Petrol and diesel prices at Shell, ExxonMobil, Caltex and S'pore Petroleum Company (SPC) stations were lowered by 5 cents a litre on Thursday. Shell led the way by reducing prices at 2pm, followed by ExxonMobil at 3pm, and Caltex and SPC at 3.30pm. Premium 95 grade now stands at S$1.796 a litre before discounts, while the price of diesel is reduced to S$1.553. It is the 10th consecutive drop in pump prices since July and the second reduction in a week. |
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novena_33
Veteran |
23-Oct-2008 06:05
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i sure hope the petrol price can drop some more... | ||||
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cyjjerry85
Elite |
23-Oct-2008 03:24
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will we see our petrol stations cutting prices again? hopefully soon... but its a pity electricity bills is still high even when the oil prices are down |
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cyjjerry85
Elite |
23-Oct-2008 03:21
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Oil ends at 16-month lowEnergy Department says crude supplies rose by 3.2 million barrels last week, underscoring fall in demand due to economic slowdown.NEW YORK (CNNMoney.com) -- Oil prices fell sharply on Wednesday, reaching prices not seen since June of last year, after the government reported a greater-than-expected rise in crude stockpiles - an indication that the slow economy may have impacted demand for fuel. U.S. crude for December delivery lost $5.43 to end the session at $66.75 a barrel in New York. Oil had been down about $3.98 a barrel at $68.20 just before the report's release. Wednesday's settle price was the lowest since June 13, 2007, when oil ended the day at $66.26 a barrel. Wednesday was also the first day of front-month trading for the December contract. The November contract closed at $70.89 a barrel when it expired on Tuesday. U.S. inventories: In its weekly report, the government said crude stockpiles had risen by 3.2 million barrels in the week ended Oct. 17. A buildup in crude stockpiles often means that refineries have ample oil, and may not need to buy as much crude through the next week. Supplies of motor gasoline rose by 2.7 million barrels, and supplies of distillates, which are used to make diesel fuel and home heating oil, increased by 2.2 million barrels. Analysts polled by Platts, the energy research arm of McGraw Hill, had predicted a crude increase of 2.9 million barrels. Experts had also expected a 3 million barrel buildup in gasoline stockpiles, and a 600,000 barrel rise in distillate stocks. Falling demand has helped drive oil prices down more than 50% since they rose to a record high of $147.27 a barrel in mid-July. "Everybody pretty much realizes that the move of last August to the 4th of July - that's just speculation, that was just a bubble," said Steve Brassey, senior broker with Sonic Futures in California. Gasoline prices have also fallen from a high of $4.114 a gallon on average, according to motorist group AAA. By Wednesday, the average U.S. price had fallen to $2.858 a gallon, AAA said. According to the Energy Department, gasoline consumption for the last four weeks averaged 8.8 million barrels a day, or 4.3% lower than the same period last year. Stocks: Oil and commodity prices have been falling along with the stock market over the past several weeks.The Dow Jones industrial average was trading down more than 3% during Wednesday's session. Investors and funds that had hedged against stock market losses by buying commodities, which usually counter one another, are being forced to sell their hedges, according to Brassey. OPEC meeting: Though the U.S. inventory report was largely negative for oil prices, it may lead the Organization of Petroleum Exporting Countries to cut production deeper when it holds an emergency meeting scheduled for Friday, according to James Williams, energy economist with WTRG Economics in Arkansas. OPEC, which controls about 40% of the world's oil, has expressed concern that record high oil prices, followed by global economic stagnation, may have permanently impaired demand for crude products. Last week the organization moved up an emergency meeting by nearly a full month as oil prices plummeted. Experts had expected the organization to cut production by around 1 million barrels a day. "You could make an argument that OPEC is probably going to cut more deeply in the wake of this report," said Williams. "Iran, Venezuela and the traditional 'price hawks,' and even some (OPEC members) that are usually more neutral, have more ammunition going into this meeting," he added. Dollar: As the global economy slowed, investors sought the stability of the dollar, which also contributed to lower oil prices. The dollar gained strength Wednesday against major currencies such as the 15-nation euro and the British pound.Oil, like other commodities, is traded in dollar terms. So when the value of the dollar goes up, it often means that the dollar-denominated price of crude falls. |
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teeth53
Supreme |
22-Oct-2008 16:04
Yells: "don't learn through life, learn to grow with life " |
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Oil px fall again on fear of prolong deeper recession. Not oni US but also in EU. http://money.cnn.com/2008/10/21/markets/oil/index.htm?postversion=2008102114 Oil prices fell Tues, briefly sliding below $70/-. U.S. crude for Nov delivery settled down $3.36 to $70.89 a barrel in New York. During the session, the contract touched a low of $69.77. Oil prices have fallen more than 50% from a record high of $147.27 a barrel in mid-July as investors have worried about falling demand for petroleum-based fuel due to both cost and the slowdown in the global economy. The global oil market is oversupplied by about 2 million barrels a day. "Demand in the past 60 to 90 days has (already) dropped by over 1 mil barrels a day." Even if OPEC does cut production, there's no guarantee its member nations will comply with the quota. "I don't believe for a minute that a majority of the countries are going to adhere to that," and neither does the market, said Cordier, since the economies of many OPEC nations, with the exception of Saudi Arabia, depend heavily on crude sales. The organization has been worried that high oil prices this year, along with global economic problems, may permanently impact demand for crude. |
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teeth53
Supreme |
21-Oct-2008 19:05
Yells: "don't learn through life, learn to grow with life " |
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Yet another lousy explaination. This time from...the word Arbitrary from dictionary it mean 1. based on opinion or impulse, not on reason 2. dictatorial; using despotic power. Don't treat us like childrens..Ya. We got brain and common sense... Another blunder...still enjoing and living in comfort with tax payers $$$$. Noted: oil prices movement move so very fast up and down, so some form of (better) mechanism has to be put in place to be work out, rather then reliance on old system.
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teeth53
Supreme |
21-Oct-2008 18:54
Yells: "don't learn through life, learn to grow with life " |
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Yet another Another blunder...lousy explaination. This time by......From dictionary..ARBITRARY mean 1. based on opinion or impulse ONLY, not on reason and 2. dictatorial: using despotic power. So are we talking based on above impulse and not on reason.?. (No common sense, err..cow sense) Noted: oil prices movement move so very fast up and down, so some form of (better) mechanism has to be put in place to be work out, rather then reliance on old system. Above isit unreasonable..?.
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teeth53
Supreme |
20-Oct-2008 15:57
Yells: "don't learn through life, learn to grow with life " |
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Oil px fall 55% since July/08. Pump px fall by..err, Peanut..sort of control... This call remind me about our "tariff hike goes against common sense" going up by 21% ++ for this Q. Oct-Dec 2008. Bad news....Ya. Working on US155 per barrel. So call about free-ing our market, is all about been in control. |
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Andrew
Master |
17-Oct-2008 23:24
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Your reason sound good enough......good try BUT ComfortDelgro BS is better. "We are selling diesel at $1.19/liter" So how........?? My take : I SEE COMFORTDELGRO TAXI DRIVER HAS ENGINE RUNNING PARKED IN A MULTISTOREY CARPARK AND READING NEWPAPER FOR 20MINS !!! I WAS WASHING MY CAR" When I left, he is still reading newpapers in his air-cool cage!! Sound like an ABUSED of good faith which utlimately pass down to juicy consumers ?? If some1 have a camcorder and send to Youtube, that will be good.......
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knightbridge
Veteran |
17-Oct-2008 22:37
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Taxi Companies of Singapore. Wake up. When u going to drop your fuel surcharge 0.30 cent to benefit the common people. Crisis. Which part of your business overhead increase in the current crisis?? Maybe is the CEO pay i guess, need to pay CEO more in time of crisis. lol Oil company just drop 10cent per litre for diesel to help the taxi driver. Tyre also drop price ler so where got overhead increase now still sticking on the fuel surcharge |
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teeth53
Supreme |
17-Oct-2008 19:49
Yells: "don't learn through life, learn to grow with life " |
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Another blunder...isit ?. This whole idea about me mentioning below is to bring out our current sytsem that working against all of us, weather we are retail users or those making those implementaion process, Noted: oil prices movement move so very fast up and down, so some form of (better) mechanism has to be put in place to be work out, rather then reliance on old system. "tariff hike goes against common sense" going up by 21% ++ for this Q. Oct-Dec 2008. Bad news....Ya. Working on US155 per barrel. on the revision in the electricity tariff, a more common sense idea approach to sell it tariff increases (none option) to all general public and it citizens need to be more elaborated. I believe some may not afford to pay more for those poorer citizens when those bills reach them this 4th Q (Oct - Dec 2008). Another word what..those (who) BBs for years is trying their very best effort to put for...for the benefit of it citizens, sort of it is going down the drain some how, some what. That's what reminded me of those ping pong incident. |
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HLJHLJ
Veteran |
17-Oct-2008 19:46
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with oil down, SPC is not attractive anymore. Careful. My opinion only
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teeth53
Supreme |
17-Oct-2008 19:17
Yells: "don't learn through life, learn to grow with life " |
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Made me, reminded me of a ping pong incident in China Oylmpic where U are no longer needed and it made it a hot, very hot news in paper, the day after this incident. It does not go down well....with such blunder in black and white incident..it is very clear cut...Another no common sense from our......and is still living off us (citizens...pls wake up), very confortably..business as usual....Ya | ||||
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teeth53
Supreme |
17-Oct-2008 19:05
Yells: "don't learn through life, learn to grow with life " |
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In all good faith...Director, Corporate Communations. Energy Market Authority (EMA) did explains (again..Ya. This time...explanation did not go down well with..Bad news for us, ordinary citizen..Ya, no mechanism to explain why..except to said it is base on three mths forward contract..very poor lousy explanation.) it spike on fuel oil, natural gas & it electricaity charges. Sat, Oct 4, 2008 ST paper (forum-page-A36) Me think (alternate view) end of the day it will be alot more money to shares holder value and it Directors and also more then enuff to cover staffs salary and operating cost.....Ya. So a very negative reflection, it will effectively increases imposed on majority on higher cost of living standard for this 4th Q, and a very well regulated none option choice that everyone got to pay for it. I believe some may not afford to pay more for those poorer citizens when those bills reach them this 4th Q (Oct - Dec 2008).
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bola_no1
Senior |
17-Oct-2008 18:26
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Can anyone advise wad is the next support for SPC? Thanks | ||||
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Andrew
Master |
17-Oct-2008 10:29
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The rational is to use a 3 month future HSFO something as benchmark. The delivery price 3 months ahead. If this 3 months future drop, we get cheaper electricity. But this is really BS. According to news report back in 2003, the agreement with indonesia on natural gas is based on fixed price for the first 5 years and price is reviewed every 5 year.... I maybe wrong.......anyone read that before.... When you only have 2 opp in Parlaman that is like that lor.....We even need Tan Kim Lian to talk in Hong Lim Park. LHL did not foresee that when he open the flood gate.....haha You all still like to hear the goat story ??
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