Taken to the cleaners again?

Discussion in 'UK Motorcycles' started by Mick Whittingham, Aug 18, 2009.

  1. I saw this trundling through the news today:
    Apologies to the usual suspects, as it is the Daily Express:

    http://www.express.co.uk/posts/view/121189/Motorists-set-for-misery-at-pu
    mps-as-oil-prices-soar

    While I was taking my marine VHF exams I was talking to several
    knowledgeable folk from Great Yarmouth and Lowestoft harbours.

    They tell me that oil people, after parking a lot of full oil tankers in
    fjords and one having a serious leak, they are now parking them around
    the main ports on the East Coast of England for UK delivery. He quoted
    that something like 75%(?) of the oil tankers are being used as storage
    on the sea at the moment only unloading if they financially have to or
    are contracted to.

    They are waiting for the oil price to go up before unloading.

    The guy from Lowestoft Harbour said they were using tugs and small oil
    barges from Lowestoft to off load sufficient oil to sell to pay for the
    running of the tankers etc.
     
    Mick Whittingham, Aug 18, 2009
    #1
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  2. Mick Whittingham

    Catman Guest

    IWHT that that oil has already had it's price fixed. ICVWBW though.

    --
    Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3
    Tyger, Tyger Burning Bright (Remove rust to reply)
    116 Giulietta 3.0l Sprint 1.7 145 2.0 Cloverleaf 156 V6 2.5 S2
    Triumph Sprint ST 1050: It's blue, see.
    www.cuore-sportivo.co.uk
     
    Catman, Aug 18, 2009
    #2
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  3. Mick Whittingham

    CT Guest

    <mode=cynical>

    It's only fixed when prices are falling...

    </mode>
     
    CT, Aug 18, 2009
    #3
  4. Mick Whittingham

    boots Guest

    boots, Aug 18, 2009
    #4
  5. Mick Whittingham

    Catman Guest

    Heh. I think there are plenty of commodity dealers that would argue with
    you on that.

    --
    Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3
    Tyger, Tyger Burning Bright (Remove rust to reply)
    116 Giulietta 3.0l Sprint 1.7 145 2.0 Cloverleaf 156 V6 2.5 S2
    Triumph Sprint ST 1050: It's blue, see.
    www.cuore-sportivo.co.uk
     
    Catman, Aug 18, 2009
    #5
  6. Mick Whittingham

    CT Guest

    Oh sure, but talking solely about petrol, when oil goes up by a few
    dollars a barrel, pump prices rise pretty quickly. When oil drops in
    price, and the OilCos are asked why pump prices aren't falling, it's
    always because it was bought at the higher price and it takes time to
    trickle through.
     
    CT, Aug 18, 2009
    #6
  7. Mick Whittingham

    fishman Guest

    Yeah but if you believe that you believe anything! Dumbass!
     
    fishman, Aug 18, 2009
    #7
  8. Mick Whittingham

    Catman Guest

    Oh yes. I was talking solely about the price of the oil, as (I *think*)
    was the OP.

    --
    Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3
    Tyger, Tyger Burning Bright (Remove rust to reply)
    116 Giulietta 3.0l Sprint 1.7 145 2.0 Cloverleaf 156 V6 2.5 S2
    Triumph Sprint ST 1050: It's blue, see.
    www.cuore-sportivo.co.uk
     
    Catman, Aug 18, 2009
    #8
  9. Mick Whittingham

    CT Guest

    And? I simply changed the subject in true ukrm style. :eek:)
     
    CT, Aug 18, 2009
    #9
  10. Oil is bought and sold several times from *before* it comes out of the
    ground to the time to is pumped into the final owners tank farm. Most of
    the transactions are while it is at sea.
     
    Mick Whittingham, Aug 18, 2009
    #10
  11. Depends entirely on the contract terms.
     
    [email protected], Aug 18, 2009
    #11
  12. Mick Whittingham

    CT Guest

    From:
    http://www.telegraph.co.uk/motoring...ould-reach-1.20-by-end-of-year-RAC-warns.html

    "When crude oil was at $70 dollars a barrel in June 2007, the average
    price of petrol was 97p – almost 7p cheaper than now."

    The RAC said: "The rising price in oil is certainly a factor in this.
    But it does seem to be the case that petrol prices rise quickly when
    oil goes up but fall slowly when the price of oil drops."

    See, I'm right![1]

    [1] Or at least the nice man from the RAC agrees with me.
     
    CT, Aug 18, 2009
    #12
  13. Mick Whittingham

    Catman Guest

    Said it before, and I've said it again. Every day's a school day :)

    --
    Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3
    Tyger, Tyger Burning Bright (Remove rust to reply)
    116 Giulietta 3.0l Sprint 1.7 145 2.0 Cloverleaf 156 V6 2.5 S2
    Triumph Sprint ST 1050: It's blue, see.
    www.cuore-sportivo.co.uk
     
    Catman, Aug 18, 2009
    #13
  14. Mick Whittingham

    Catman Guest

    Good call!

    --
    Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3
    Tyger, Tyger Burning Bright (Remove rust to reply)
    116 Giulietta 3.0l Sprint 1.7 145 2.0 Cloverleaf 156 V6 2.5 S2
    Triumph Sprint ST 1050: It's blue, see.
    www.cuore-sportivo.co.uk
     
    Catman, Aug 18, 2009
    #14
  15. Mick Whittingham

    YTC#1 Guest

    Fears that pump prices would return to £1.20 a litre grew as crude oil costs
    rose above $67 a barrel this morning.

    ??

    But yeasterday they dropped below 70USD, according to the Grauniad, so how
    does thes Express work that one ?

    http://www.moneyweek.com/news-and-charts/market-data/oil.aspx
     
    YTC#1, Aug 18, 2009
    #15
  16. Mick Whittingham

    fishman Guest

    The Express is obsessed with petrol prices and immigration. It also
    *always* exaggerates about both.
     
    fishman, Aug 19, 2009
    #16
  17. The Grauniads data was from a price last week.

    This is useful data but don't let facts confuse you.

    http://www.upstreamonline.com/market_data/;jsessionid=86346531C0B794C52AC
    65B3EC3A4325B.upstream.mark?id=markets_crude

    It's from the day following my post on the 18th showing a continued
    increase in oil price. (Forth column mark %)

    The figures quotes by most of the press and the RAC quotes in the papers
    are from a basket of prices and hence only indicate a current trend.

    The magic level was when it broke $60 it's now the $70 a barrel level
    that it is fluctuation around.
     
    Mick Whittingham, Aug 19, 2009
    #17
  18. Mick Whittingham

    YTC#1 Guest

    Hmm, I presume you mean the fluctuation since Saturday ?
    Still a lot lower than a year ago :)
     
    YTC#1, Aug 19, 2009
    #18
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