Pavel + 384 PP April 11, 2018 Oil prices hit their highest level since December 2014 after US President Donald Trump warned of strikes on Syria and cautioned Russia against backing Bashar al-Assad. Brent crude, the international benchmark, hit a high of $71.96 — the most in more than three years. By 1.20pm the marker had risen 62 cents to $71.66 a barrel, taking gains from the last three days to almost 7 per cent.The military and oil industries are the only which prosper in the war. 1 Quote Share this post Link to post Share on other sites
Petar + 76 PP April 11, 2018 One word - compensation... 1 Quote Share this post Link to post Share on other sites
franco + 96 FM April 11, 2018 Expect to pay more at the pump. 1 Quote Share this post Link to post Share on other sites
jpZelabal + 63 jj April 11, 2018 On the surface, things look good for oil producers... Each escalation in any field for them means pockets full of money... But after few days when we come to gas station we are in shock thinking what's going on. Price of gallon is $3 or $3.42 or prices in markets are much higher than before. 1 Quote Share this post Link to post Share on other sites
damirUSBiH + 327 DD April 11, 2018 Someone will have a champagne on business morning if it rises above $75? 1 Quote Share this post Link to post Share on other sites
pinto + 293 PZ April 11, 2018 Definitely, we have to worry about of effect of high prices on our economy...It could be "hard attack" on our pockets. 1 Quote Share this post Link to post Share on other sites
damirUSBiH + 327 DD April 11, 2018 It's not good, but still better than seven, six, five years ago... 2 Quote Share this post Link to post Share on other sites
J Owens + 45 April 11, 2018 This latest jump has been crazy - I am hearing rumours of two loud blasts heard in Riyadh. Geopolitical? This is all coming despite the build reported by the EIA. I imagine the extreme net-long position held by traders has exaggerated it as well. Can anyone shed some light for me? The rise in the last couple of days has been ridiculous. 2 2 Quote Share this post Link to post Share on other sites
TomTom + 183 April 11, 2018 Algos go wild on these kind of headlines: https://www.reuters.com/article/us-saudi-security/saudi-arabia-intercepts-missile-over-riyadh-al-arabiya-idUSKBN1HI28K Expect prices to correct after this peak... 1 2 Quote Share this post Link to post Share on other sites
msk + 42 MK April 11, 2018 Do you think it will keep going up? I don't want them to raise my bus fare because fuel prices are too high 1 Quote Share this post Link to post Share on other sites
J Owens + 45 April 11, 2018 9 minutes ago, TomTom said: Algos go wild on these kind of headlines: https://www.reuters.com/article/us-saudi-security/saudi-arabia-intercepts-missile-over-riyadh-al-arabiya-idUSKBN1HI28K Expect prices to correct after this peak... Interesting - based on the time stamp of that article it looks like it could have been the trigger for the latest spike. If it were a singular incident I would expect a correction... https://oilprice.com/oil-price-charts 2 Quote Share this post Link to post Share on other sites
CMOP + 227 April 11, 2018 Yeah, this has algo trading all over it. I can't see anything else out there to explain the severity of the spike. 2 Quote Share this post Link to post Share on other sites
msk + 42 MK April 11, 2018 Rumours of 2 UAVs downed near or inside abha airport in the south of Saudi Arabia - still nothing official out about exactly what is happening 2 Quote Share this post Link to post Share on other sites
Pavel + 384 PP April 11, 2018 Saudi Arabia has already sent a signal that wants to get oil prices near $80 a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering. Riyadh is aiming for $80. From their point of view Riyadh’s desire for higher prices is driven by domestic policy and ambitious of Crown Prince MBS. He has set out an ambitious and expensive economic and social reform program. Also, they are including in military conflict in Yemen and costs are increasing....So, the Middle East(Syria, Yemen, SA) dictates everything 3 Quote Share this post Link to post Share on other sites
franco + 96 FM April 11, 2018 2 minutes ago, Pavel said: .... From their point of view Riyadh’s desire for higher prices is driven by domestic policy and ambitious of Crown Prince MBS. He has set out an ambitious and expensive economic and social reform program..... Ambition for higher price and not losing its share in the market, of course 1 Quote Share this post Link to post Share on other sites
TomTom + 183 April 11, 2018 I'm sure that this is not what the Saudis were aiming for when they said they wanted $80 oil... 1 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 11, 2018 The latest Yemen/Saudi goings on (which is hard to interpret) is but one thing pushing up oil prices today. Trump's threat over Syria and Russia's counter-threat is also helping to lift prices. Add to that the softening of China's position in the trade war-that's-not-a-war, and you have higher prices. 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 11, 2018 12 minutes ago, Pavel said: Saudi Arabia has already sent a signal that wants to get oil prices near $80 a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering. Riyadh is aiming for $80. From their point of view Riyadh’s desire for higher prices is driven by domestic policy and ambitious of Crown Prince MBS. He has set out an ambitious and expensive economic and social reform program. Also, they are including in military conflict in Yemen and costs are increasing....So, the Middle East(Syria, Yemen, SA) dictates everything Yeah, but it's interesting, because Russia doesn't want higher oil prices. More importantly, Iran has an oil breakeven of $52, so it really doesn't want higher oil prices either. But if this really is an Iran-backed play against Saudi, then they are only helping Saudi Arabia. None of these Houthi attacks have done much if any damage, if we are to believe Saudi reports. 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 11, 2018 6 minutes ago, TomTom said: I'm sure that this is not what the Saudis were aiming for when they said they wanted $80 oil... If Saudi's really wanted $80 oil, they could just embellish instead of downplaying the result of the bombings. 1 1 Quote Share this post Link to post Share on other sites
J Owens + 45 April 11, 2018 Finally some news on it - apparently there is a coordinated Houthi attack on Saudi Arabia - Aramco facilities targeted. This really could escalate https://oilprice.com/Energy/Energy-General/Oil-Prices-Surge-After-Houthi-Missile-Attacks-On-Riyadh-Aramco-Facilities.html 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 April 11, 2018 1 hour ago, msk said: Do you think it will keep going up? I don't want them to raise my bus fare because fuel prices are too high Yes, gas prices at the pump are on the rise as well. GasBuddy has confirmed some stations have already raised prices in these areas, and many are likely to follow. Over the next 24-48 hours, average gas prices in Michigan and Indiana will rise to their highest since August 2015, when BP’s Whiting, Indiana refinery had an unexpected outage. https://business.gasbuddy.com/great-lakes-gas-prices-rising-hit-multiyear-highs/ 1 Quote Share this post Link to post Share on other sites
Stormysaga + 62 AB April 11, 2018 This summer will be a hell, and I'm not talking about weather and high temperatures. US Government estimates that prices at the pump will probably be 14% higher than last summer. That is an average of $2.74 per gallon. Quote Share this post Link to post Share on other sites
cattleman + 29 ma April 11, 2018 well like I said before the night of the ninth on the 5 min chart is telling me someone is establishing a long position and that overwhelms the sellers and even tho we are building supply I wonder if that is in part due to the longer lasting winter and when driving season does come and we start experiencing draws on crude and gas with an underlying bullish sentiment I would have to say the 70,75,80 and possibly 85 levels may come into play, I am not really that bullish right now but will be looking to put longs back on around the lower end of the raising long term trend lines and if I can I am going to try to forget about them for a while instead of being a short term trader 2 Quote Share this post Link to post Share on other sites
Hanshin + 2 HK April 12, 2018 We need to keep an eye on this situation amd hope the good outcomes are with us. 1 1 Quote Share this post Link to post Share on other sites
jjerry + 2 JC April 12, 2018 Very happy for this website and the treasure troll of hot information it reveals; Jerry 1 1 Quote Share this post Link to post Share on other sites
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