Posted on 12/10/2014 5:06:02 AM PST by blam
Adam Rose, Reuters
December 10, 2014
Brent crude remained above $66 barrel on Wednesday, after resuming its drift downward amid a glut of oil on the market, following a short-lived reprieve the previous day when a weaker dollar had provided some support to prices.
Worries about oversupply have pushed Brent down 40% since June.
"Notwithstanding day-to-day movements, the fundamental picture hasn't really changed, and that is one of supply outstripping demand growth for most of the year," said Phin Ziebell, a senior analyst at National Australia Bank.
"It's an incessant march downwards, and it would be interesting to see where it bottoms out, but there doesn't seem to be any sign of it so far."
On Wednesday, Brent's front-month futures contract traded down 71 cents at $66.13 a barrel by 7:25 GMT (2:25 a.m. ET), after falling more than a dollar to $65.78, still above a five-year low of $65.29 touched Tuesday.
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(Excerpt) Read more at businessinsider.com ...
That’s another example of the ubiquitous duality of all liberal policies.
The “elite” liberals seek personal power and enrichment of themselves and their friends.
The “sheeperal” seek self-righteousness.
Incessant... They keep using that word. I do not think it means what they think it means.
The “elite” liberals seek personal power and enrichment of themselves and their friends.
The “sheeperal” seek self-righteousness.
Makes you wonder if the liberal elites believe what they are espousing, or are they just using ideology to enrich themselves?
Good point on the downside, I just wonder about the run up of prices. They always seem to be greater than the increase in demand and go up incredibly fast.. Speculation is the cause I think. I guess that is as it should be.
Liberal elites want to limit your mobility.
A free, mobile population is much more difficult to control.
High oil prices and environmental regs help do that.
An economy unable to generate enough jobs to create demand for oil will do the same, and cause less release of CO2. We may be headed for a recession/depression. They may yet get their wish.
The elites have their power and wealth agenda,
and they USE the desires of the sheeperal to achieve that agenda.
I don’t think they care one wit about the “issues” they espouse.
Propane, also called LPG which stands for Liquid Petroleum Gas.
Also Saudi Arabia and Venezuela, 2 more enemies of ours. -tom
Is that a fixed 5 year range or say a month by month rolling window of the immediately previous 5 year range?
I believe, month rolling window of the immediately previous 5 year range.
I well understand what propane it. Most of my work for this year, last year and at least next year revolves around building industrial facilities for the production, storage and transportation of propane, along with Ethane, Butane, and the like.
BTW, please look at this and see if it makes sense to you: http://www.oxfordenergy.org/wpcms/wp-content/uploads/2011/03/WPM40-AnAnatomyoftheCrudeOilPricingSystem-BassamFattouh-2011.pdf
Neither can shale oil or Keystone XL.
XL should be able to compete with BNSF and UP.
Every time I see that statement (oil, gasoline, etc) I shake my head.
The reality, of course, is that you see no reason for oil to be $115/bbl...and no one has been able to convince you otherwise. Hence the word "justification."
Markets will work in a way that makes sense to you if you understand it's not about you, or what you feel is "justified."
Markets are about buyers and sellers who meet to transact at mutually agreed price. Markets work best when they are voluntary...
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