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Oil Price

No more subsidy for CNG liao

knightbridge      ( Date: 30-Jan-2009 22:47) Posted: Let them increase pump. One of these days, singaporean will switch to battery or CNG or new form of energy for cars. Coming soon, consumers all realised they can be threaten by high oil price, will start to seek altnerative solutions (May need a few years to realise this goal)

 

Let them increase pump. One of these days, singaporean will switch to battery or CNG or new form of energy for cars. Coming soon, consumers all realised they can be threaten by high oil price, will start to seek altnerative solutions (May need a few years to realise this goal)

 

A Shell spokesperson said: "Shell recognises that pump prices are of great concern to our customers, so shell shall be amony the 1st to have very good profit to declare, shell is always the leading leader.

teeth53 thot so...humm...

teeth53      ( Date: 29-Jan-2009 21:54) Posted: http://sg.news.yahoo.com/cna/20090129/tap-671-cents-petrol-prices-5-7-diesel4-231650b.html Pump prices in Spore have gone up the 2nd time this year. The last revision was on January 6. “Shell always strives to pass savings back to customers —— during the second—half of 2008 when oil prices sky—rocketed to an all—time high and then fell, we initiated 14 price cuts to bring prices down for customers." A Shell spokesperson said: "Shell recognises that pump prices are of great concern to our customers. The price of diesel is reduced to S$1.243. diesel down 4 cents. Premium 95 grade at S$1.546 a litre. Petrol prices up between 5 and 7 cents.

 

Basket.... why raise prices when oil price still so low??

 

http://sg.news.yahoo.com/cna/20090129/tap-671-cents-petrol-prices-5-7-diesel4-231650b.html

Pump prices in Spore have gone up the 2nd time this year. The last revision was on January 6.

“Shell always strives to pass savings back to customers —— during the second—half of 2008 when oil prices sky—rocketed to an all—time high and then fell, we initiated 14 price cuts to bring prices down for customers."

A Shell spokesperson said: "Shell recognises that pump prices are of great concern to our customers.

The price of diesel is reduced to S$1.243. diesel down 4 cents. Premium 95 grade at S$1.546 a litre. Petrol prices up between 5 and 7 cents.

 

Just bet for d div, soon.

bola_no1      ( Date: 15-Jan-2009 23:01) Posted: How to up when global demand is so low... no demand = no production = oversupply = oil price down.

 

How to up when global demand is so low... no demand = no production = oversupply = oil price down.

 

The Tsunami wave !!

learningtheropes      ( Date: 06-Dec-2008 11:44) Posted: how many waves are there supposed to be? AK_Francis      ( Date: 06-Dec-2008 02:25) Posted: Its a wave 3, AK senses. My view only.

 

Oil up after falling to near $36 on weak US demand

http://sg.news.yahoo.com/business.html

 

how many waves are there supposed to be?

AK_Francis      ( Date: 06-Dec-2008 02:25) Posted: Its a wave 3, AK senses. My view only.

 

Its a wave 3, AK senses. My view only.

 

i just received an email from Saxo...here's for u guys out there who wish to know a little more about the oil prices on the technical analysis side:



Crude Oil now trades more than $100 below the July high with most traders focusing on the lack of demand as OPEC through their inability to show a strong hand continue to leave the market oversupplied.  Despite expectations of production cuts up towards 5 mio BPD over the next year the risk is still for Crude Oil to trade lower near term.

As highlighted last week the lack of action by OPEC left market with nowhere to go but down and $40 should now be relatively easy to reach before Christmas. Merrill Lynch even came out saying that the price may dip below $25 if recession also hits China. A market friendly report on weekly storage data on Wednesday had no impact highlighting the current negative sentiment.

Oil traders are beginning to accelerate bookings for tankers to store Crude Oil as they try to profit from higher prices in the future. The Contango or difference between back months and spot month is trading at record highs.  On that basis it makes sense for traders to buy the Crude Oil for spot, store it on floating tankers, while locking in a future delivery price through selling a back month contract.



Technically the down trend is firm without being oversold yet. Crude Oil for January delivery needs to break above $56 before any talk of a recover can begin. Support is defined by a downward sloping support line which as of Friday stands at $41.20 followed by $40 which is highlighted on the weekly chart above.

 

anybody doing technical analysis on the charts of oil? I wonder where do we get charts for the oil...by the way, I saw recently on Sharejunction's "Market Bites" that based on TA, the next support could possibly be US$30

 

http://www.channelnewsasia.com/stories/afp_world_business/view/394299/1/.html

NEW YORK : Oil prices tumbled to their weakest levels in nearly four years Thursday as investors fixated on mounting signs of recession in the global economy.

On the New York Mercantile Exchange, light, sweet crude for January delivery settled at 43.67 dollars a barrel, down 3.12 dollars from Wed close. It was the lowest crude price since Jan 2005.
In London, Brent North Sea crude for delivery in January fell 3.16 dollars to settle at 42.28 dollars on the InterContinental Exchange, also at the lowest since January 2005.

 

wow ! if that's the truth ,then we have been conned big time all this while .... !!!

if what i had read is true , (i think it was bank of kuwait's report ) ... maybe given today's fair value (with allowance for inflation etc).. my guess is breakeven could be around US30 +/-  .... the rest all .... con job .... hahaha !

 

Total production cost of crude oil varies from one producer to another on the range of about USD 5 to 10/Barrel only.

baseerahmed      ( Date: 04-Dec-2008 23:28) Posted: ... i remember reading somewhere (reliable newsagency ,can't recall the name , not conspiracy type news ) sometimes back , the breakeven for crude oil production is just US$18 ...so.. anything above this is solid profit ..... so i don't think it will go down to US$7 ..... so ... they have already made a pile by pushing it up to USD150 + ..... maybe the extra-ordinary profits were legitimately for future exploration or infrastructure ....or to counter this current financial turmoil before spilling the beans ....

 

... i remember reading somewhere (reliable newsagency ,can't recall the name , not conspiracy type news ) sometimes back , the breakeven for crude oil production is just US$18 ...so.. anything above this is solid profit ..... so i don't think it will go down to US$7 .....

so ... they have already made a pile by pushing it up to USD150 + ..... maybe the extra-ordinary profits were legitimately for future exploration or infrastructure ....or to counter this current financial turmoil before spilling the beans ....

 

 

Cut or don't cut...even if there's agreement to maintain oil production...there's some form of back stepping to maintain their style and mindset...money to offset their falling business, everythings is getting less in profit, less in prices, less in stock value, less in properties selling/buying prices...all things consider, everythings will be less including lending and borrowing money to do business..recession, consumers spend less...to restart confident...take another two to three years

 

Crude oil is no longer uptrend! Keep downward trend for future movement! Non Opec member and some Opec member are chasing for sale volume rather then profit margin now. So I won't be surprised if price can go as low as USD 7 /barrel in the long run!!! (Just personal view)

Centaur      ( Date: 03-Dec-2008 17:19) Posted: Think OPEC has mentioned that they will be cutting oil production in the next meeting and is inviting the non-OPEC members to cut production as well. How much production is cut and how many non-OPEC members join them will def have an impact on the oil price. Demand for oil cannot just disappear overnight but on the other hand, the supply could fall drastically after an OPEC meeting. Before one thinks that oil price can keep falling, all these macro-environment and political factors have to be taken into account.

 

Think OPEC has mentioned that they will be cutting oil production in the next meeting and is inviting the non-OPEC members to cut production as well. How much production is cut and how many non-OPEC members join them will def have an impact on the oil price.

Demand for oil cannot just disappear overnight but on the other hand, the supply could fall drastically after an OPEC meeting. Before one thinks that oil price can keep falling, all these macro-environment and political factors have to be taken into account.