Oil down to $115!

[zed sump]

think there's a falling trend set . . . 4 weeks til pumps drop a little (more?)?

[zed sump]

just a correction? guess speculators can only take it so far?

[Bernie-the-bolt]

Diesel has dropped 5p per litre in the local Shell station over the last week (now £1.25 p/ltr), let's hope it continues on the downward slope for a little while!

[zed sump]

atleast that isn't 'by the end of the year', although that's a prediction i heard long ago - a more recent prediction of $170/b might be realistic?

[black1]

haworthlloyd1 said:

a lot of companies have bought oil futures to hedge against future increases therefore they are tied in at a higher price, I do think though that within the next 3-5 years we will be at $200 per barrel.

if it gets to $200 barrel you and me and millons more will be on the dole !

[AliV6]

Won't go down to 100$Brent again imo...Been in the industry a while and the price will continue to spiral...With alot of the supermajors moving out the UKCS and SNS to the mid east and russia it may balance the price a little, but it won't take effect for 4-5yrs imo...Well appraisals and spudding takes a number of yrs!

[black1]

AliV6 said:

Won't go down to 100$Brent again imo...Been in the industry a while and the price will continue to spiral...With alot of the supermajors moving out the UKCS and SNS to the mid east and russia it may balance the price a little, but it won't take effect for 4-5yrs imo...Well appraisals and spudding takes a number of yrs!

well its down to $110 at this time, would be nice if shell tesco etc droped the price again !!!

[bluevelvet]

black1 said:

AliV6 said:

Won't go down to 100$Brent again imo...Been in the industry a while and the price will continue to spiral...With alot of the supermajors moving out the UKCS and SNS to the mid east and russia it may balance the price a little, but it won't take effect for 4-5yrs imo...Well appraisals and spudding takes a number of yrs!

well its down to $110 at this time, would be nice if shell tesco etc droped the price again !!!

Announced on the radio this afternoon, tesco,asda & morrison are reducing fuel prices in the morning!

[zed sump]

£1.10 unleaded spotted at shell fuel shop nr ipswitch yesterday

[mike_1985]

Russia is at war with georgia which has a big bit of pluming on its territory that will make the markets unstable again