142.51 yippie!!

That's a UK site. That may be Brent Crude. For the purpose of consistency on the thread we're using front month WTI. It's still at 142.26 for the moment.

Well...actually as I'm typing it just hit 142.54

$142.8



not really. In the same website there is a "live crude oil" and a "live brent oil". So at least, the prices I'm quoting are NOT brent.

In Brent the high will be $143.84

CNBC in now continuously displaying a crude oil price graphic in the lower right-hand corner of its screen. Highest I've seen so far is $142.83.

Their pundits and talking heads really do seem genuinely scared by all this. They appear to be sincerely worried. I don't think I'm imagining it.

I'm using the same chart. The high was $142.83

Ditto same here..
These NO Speculating involved...
Until you can PHYSICALLY take the Oil off the Market, theres No Speculation..
Supply Demand Issue..
Watch What R.S. says in the last 5 minutes of this video...
http://www.cnbc.com/id/15840232?video=779985121&play=1

My apologies. So I've got 142.99 as the current high.

that's the chart I've prefered so far; but the highs changes slightly depending on parameters. At 10 sec, 500 units, it seems to be $143.04.

Right now it's $140.73

...the price lows are barely on $139, what does this means? Is it too soon to say that the markets are testing $138 as "floor"?

I like Barchart.com:

http://www2.barchart.com/mktcom.asp?section=energies

Their chart displays the high for the session along with the current price.

(Meanwhile, on the spot market, Tapis is over $147...)

lol how many Yergins are we up to now?

Over 3.7 Yergins.

what is a "yergin"?

A Yergin is $38/bbl, or what Yergin predicted in November 2004 would be the price of crude in November of 2005. It was actually in the mid $60s.

Daniel Yergin Day

cor blimey price is a bit high mate

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on how much gas is in a Gallon

The costs have to be adjusted for today , the refining costs are also higger for sulfured , heavy oil
From
http://www.gravmag.com/oil3.html#barrel2

" The 42-gallon barrel of crude oil makes about 19½ gallons of gasoline, 9 gallons of fuel oil, 4 gallons of jet fuel, and 11 gallons of other products, including lubricants, kerosene, asphalt, and petrochemical feedstocks to make plastics. That adds up to more than 42 gallons because of something called "refinery gain" - the processing and chemical changes decrease the density and hence increase the volume of the refined components. So, crudely (pun intended), a $37 barrel of crude represents about 88 cents a gallon to start with. That 88c represents the cost of production plus producer profit. Go up from there

Numbers that I found some time ago had this for other increments of the cost per gallon:
refiner cost - 13c
marketing cost - 5c
transportation cost - 15c
retailer cost - 5c
refiner, marketer, transporter, retailer profit - 10c (total, not each)

Add that to 88c, add the average 43 cents tax, and -- rather remarkably - that adds up to $1.79, if I added correctly - just about what you are paying. All the numbers vary depending on a long list of things -- refiner costs go up when they have to make specialized local blends (one reason for CA and Chicago having higher prices), marketing costs are higher in competitive markets (i.e., big cities), transportation costs are higher in the boondocks, or generally in places distant from refineries, retailer costs depend on number of employees, whether or not it is a franchise (some rural stations that I know of here in Montana have to pay many thousands of dollars per year for the "right" to be branded Conoco, or whatever); and the total price also depends on differing state and local taxes. So these numbers would be ball-park, approximations. "


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