Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Joined: May 20, 2005 Posts: 56 Location: United Kingdom
Posted: Wed May 02, 2007 4:18 pm Post subject: Re: Europe Fuel Shortage Reports
Tesco in N Ireland (cheapest supplier) Unleaded Petrol is 93.9ppl, Low sulphur diesel is 94.9ppl - recent reduction in the normal 2.0ppl difference between petrol and diesel down to 1.0ppl. Many other petrol stations selling Petrol at 96.9ppl and Diesel at 97.9ppl. I noticed one unbranded country supplier selling Petrol and Diesel at 91.9ppl each. Long time (few years) since I have seen them at the same price.
I can see petrol prices rising above diesel over the next 2 weeks due to strike, if nothing else......
Joined: Oct 23, 2004 Posts: 5410 Location: New Jersey
Posted: Thu May 03, 2007 10:18 am Post subject: Re: Europe Fuel Shortage Reports
Question - Has the Estonia-Russia energy dispute affected any energy prices in Europe at all yet?
Antwerp strike averted for now.
Quote:
UPDATE: Belgian Oil Unions Mull New Pay Deal; Strike Averted
DOW JONES NEWSWIRES
May 3, 2007 7:06 a.m.
LONDON (Dow Jones)--A strike threatening Belgium's oil refineries has been averted for now, after negotiators drafted an improved pay proposal for sector workers late Wednesday, union and employer representatives said Thursday.
The unions will present the draft labor agreement to job stewards Thursday night, and workers will then vote on the proposal in a May 24 referendum, said Herman Baele from the FGTB union.
"The strike has been annulled until we know what the workers think," said Baele.
Fred Van Melkebeke, spokesman for the employers' group, the Belgian Petroleum Federation said: "We have a proposal of a collective labor agreement. We have reached a compromise and a strike will be put off."
Melkebeke said that the pay deal was "unlikely" to be voted down by workers, but added that a rejection would reactivate the 9-day notice period for the strikes.
Wall Street Journal _________________ It's already over, now it's just a matter of adjusting.
Joined: Aug 18, 2005 Posts: 524 Location: Belgium, Europe
Posted: Fri May 04, 2007 8:26 am Post subject: Re: Europe Fuel Shortage Reports
that's correct
they're consulting the employers now and won't go on strike until the 24th
the unions think this is a good agreement and will try to convince their members to ratify the agreement _________________ www.peakoil.be
Posted: Sat May 05, 2007 6:44 pm Post subject: Re: Europe Fuel Shortage Reports
Gas has reached record prices in Switzerland.
A news article yesterday was quoting I can't remember which oil industry guy who was saying that the current prices were due to low raffinery capacity and US imports.
Joined: Apr 05, 2005 Posts: 1610 Location: Springsteen Country (NJ)
Posted: Sat May 05, 2007 7:59 pm Post subject: Re: Europe Fuel Shortage Reports
papafoo wrote:
Gas has reached record prices in Switzerland.
A news article yesterday was quoting I can't remember which oil industry guy who was saying that the current prices were due to low raffinery capacity and US imports.
It couldn't be lack of crude oil supplies, no way!
The world is burning and we get the world's smallest violin playing "My Heart Bleeds for You".
It will just get worse every year from now on. _________________ Joe P. United Political Debate
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
Posted: Sun May 06, 2007 1:30 am Post subject: Re: Europe Fuel Shortage Reports
Why are you trying to say joewp? The price of oil is currently "relatively" low and is even falling on the Nymex.
The gas prices seem therefore to be rising not due to any crude oil shortage but from gas "shortage" due to raffinery limitations and US demand as Pup55 put it.
Posted: Sun May 06, 2007 6:23 am Post subject: Re: Europe Fuel Shortage Reports
papafoo wrote:
Why are you trying to say joewp? The price of oil is currently "relatively" low and is even falling on the Nymex.
The gas prices seem therefore to be rising not due to any crude oil shortage but from gas "shortage" due to raffinery limitations and US demand as Pup55 put it.
That's because US oil inventory is high, because the refineries aren't coping. If the refineries were working at capacity, the inventories would be low, because of insufficient oil of the type that can most readily be refined over there. Then we would see high oil prices.
It's all the same problem - not enough light sweet crude, but it can materialise in a number of different ways depending on other factors. However, the media and the public can't handle even this basic level of detail, so the answer inevitably is a problem there, and only there, and not fundamental lack of supply.
As we roll down the slope, the problems will spread from their current limited areas. Eventually inventories of absolutely every product will be low, and prices high. It will be interesting where the problem is diagnosed then.
Posted: Tue May 08, 2007 12:18 pm Post subject: Re: Europe Fuel Shortage Reports
I watched 20:30 tv news and one of the news items was that gasoline price is about to increase by the weekend. There's driving season beginning in the USA and gasoline shortage is coming there due to refinery problems. News reporter interviewed a gas seller, who said they have to obey worldwide gasoline futures and there's nothing that can be done about it. Then reporter interviewed a customer at a gas station, who said that he has solved the problem by refuelling less so it costs the same all the time, there's just less fuel at the tank...
Posted: Wed May 09, 2007 2:49 pm Post subject: Re: Europe Fuel Shortage Reports
Tuike wrote:
Then reporter interviewed a customer at a gas station, who said that he has solved the problem by refuelling less so it costs the same all the time, there's just less fuel at the tank...
So he is letting the international free market draw down his own inventory?
Anyway, the UK unleaded pump average keeps on rising (95.1p), steadily gaining on diesel (96.5p). In the South, prices are generally equal from what I have seen, and unleaded is catching up in the North. However, my local station has decided to increase its diesel higher than unleaded, so there's a 3p difference. Only seems unusual in the current climate, and I treat it as an outlier.
If we see the unleaded average exceed 100p per litre this summer, it could make the news. Frankly, that too is affordable, but if the situation in the US is dire enough to make it into the inernational mainstream at the same time, that could start a lively debate about why we are exporting product while the North Sea is crashing and we are a net oil importer. That was not part of the debate in 2000, but could add an international element to it. If of course, the media shows any sign of intelligent insight.
Posted: Fri May 11, 2007 3:11 am Post subject: Re: Europe Fuel Shortage Reports
Somebody wrote a letter about high gas prices to HS newspaper which was published today. The letter says gasoline prices are rising without sensible reason. The Neste oil company is just greedy and people in remote areas have to suffer because oil companies are mean.
Let's see if somebody at oil business sents a reply to the newspaper. There might be more these kind of letters coming in the summer.
Posted: Sun May 13, 2007 5:28 pm Post subject: Re: Europe Fuel Shortage Reports
The gasoline squeeze seems to be not only coming to North America and Europe, but the entire world seems to be seeing price increases. Here are two reports of price increases: one from South Korea and one from Pakistan. I have also see reports for Eastern Europe and parts of South East Asia, including India.
As you can see, unleaded continues its climb, the rate now averaging over 0.1p per day. Diesel isn't up by anywhere near as much, price differential now down to 0.9p per litre and closing. This is reflected in numerous stations selling unleaded and diesel at the same price.
I think we are at this point exporting unleaded differently to before.
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