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Scary Stuff.... Oil currently at $106.95

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Comments

  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Nymex Crude Future 99.58


    Dated Brent Spot 111.05


    WTI Cushing Spot 97.58
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Prices at the pumps for diesel are gonna be £1.40 a litre before we know it.

    More importantly, this is going to put a real strain on the economy, and sadly, families.
  • bendix
    bendix Posts: 5,499 Forumite
    Graham_Devon wrote: »
    Prices at the pumps for diesel are gonna be £1.40 a litre before we know it.

    More importantly, this is going to put a real strain on the economy, and sadly, families.

    Why? What's the issue? Oil prices are still 35% below what they were 30 months ago.

    What's the panic?
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    bendix wrote: »
    Why? What's the issue? Oil prices are still 35% below what they were 30 months ago.

    What's the panic?

    Oil prices may be.

    But the price at the pump isn't. It's setting new records. I even stated I was talking about the price at the pump in my post.

    This affects every family going to work, every travel company, every good making its way around the UK.

    I thought this was completely obvious. I guess not.
  • Asheron
    Asheron Posts: 1,229 Forumite
    bendix wrote: »
    Why? What's the issue? Oil prices are still 35% below what they were 30 months ago.

    What's the panic?

    When your Beer costs more in the shops and your jumbo hot dogs and chips Bendix
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • Asheron
    Asheron Posts: 1,229 Forumite
    So now we all know Oil is going to $150 - $200 plan your next investments. A chance to make a lot of money :)
    As an investor, you know that any kind of investment opportunity has its risks, and investing in Stocks or Precious Metals is highly speculative. All of the content I post is for informational purposes only.
  • PeterZ_2
    PeterZ_2 Posts: 219 Forumite
    bendix wrote: »
    Why? What's the issue? Oil prices are still 35% below what they were 30 months ago.

    What's the panic?

    Things are slightly different this time around. When prices last hit record highs they got there quickly and then soon dropped, so more of a blip. What we have seen over the last couple of years is a steady growth in the price. This means the average price for the year is higher.

    Not sure that I've explained that very well, but hopefully you get the jist of it.
  • PeterZ_2
    PeterZ_2 Posts: 219 Forumite
    Asheron wrote: »
    So now we all know Oil is going to $150 - $200 plan your next investments. A chance to make a lot of money :)

    I'm not sure that the global ecomony can support prices that high. My guess is tht they might hit as high as $150 followed by a sharp drop, followed by rising prices etc - ever rising saw tooth.

    No one can predict what will happen next, who would of thought that the middle east would suddenly be in such turmoil? We are just guessing!

    One thing I would say is that if the trouble spreads to Suadi we will all be in for one hell of a roller coaster ride :eek::eek::eek:

    Time to invest in a decent push bike and get shot of your 4x4s before they are only worth scrap value :)
  • ChiefGrasscutter
    ChiefGrasscutter Posts: 2,112 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    bendix wrote: »
    Why? What's the issue? Oil prices are still 35% below what they were 30 months ago.

    What's the panic?


    Ah Yes.....but what about factoring the £ devaluation to produce a graph of oil prices in £ terms: I'd guess we are starting to approach the peak again now.
  • drc
    drc Posts: 2,057 Forumite
    Sorry to sound ignorant but is this the highest oil has even been or has it even been higher? If so, when was that?
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