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Non GAA Discussion => General discussion => Topic started by: trueblue1234 on January 19, 2016, 05:02:40 PM

Title: Price of Oil
Post by: trueblue1234 on January 19, 2016, 05:02:40 PM
Just talking about this today. Now with fuel back under the £1 mark and Heating oil so cheap, is this likely to be a long term drop or are thinks going to go back up again as quickly as they went down. Or are we looking at lower prices for the next couple of years? We're building a house at the minute and had been looking at Geotherm, but given the price of oil now, we're wondering if it's the best move. Obviously the Geotherm is better environmentally, but given the capital costs OFCH is starting to look very attractive again.   
Title: Re: Price of Oil
Post by: seafoid on January 19, 2016, 05:24:31 PM
Oil went from 30 to 160 and back down to 30 in 2 years. The price won't be stable for a long time.
Title: Re: Price of Oil
Post by: omaghjoe on January 19, 2016, 05:59:26 PM
No body truely knows if it will go up or down but if the present conditions persist then it will stay subdued

The present conditions where created by an advance in technology in how to extract oil (mainly shale fracturing), it has meant there is more oil out there than can be consumed, a glut. The traditional and cheap producers (OPEC) are trying to maintain their market share and reduce the amount of oil supplied by forcing out the new producers, ironcially this has meant that the glut has mushroomed in the short term and the price plummeted  as a result.

The biggest factors that would cause an increase in price are:

There is a massive glut in the market that has to be consumed to increase the price

Economic conditions have to be right to consume more.

And the new producers need to have a significant drop in production which incidentally they are starting to show signs off.

However even if the above conditions are met  the technology still exists to produce more oil, so if the price increased then so will the production using shale, sands etc.

As I said no one truely knows however the oil industry has prepared for a prolonged period of cheaper oil.

My own prediction would be that oil could well break $20 this year with Iran now able to sell on the open market and China's slowing economy. However as the new producers cut production and the glut gets consumed I see oil slowly heading back towards $60/70 over the next 4/5 years. The $60/70 mark is the the likely sweet spot for the shale producers to start producing again, so spikes are likely to be $80/90 are breaking $100 unlikely. However the oil industry is extremely resourceful and full of ingenuity so dont be surprised if they find a way to produce oil cheaper than that sweet spot.
Title: Re: Price of Oil
Post by: Franko on January 19, 2016, 06:06:00 PM
Quote from: omaghjoe on January 19, 2016, 05:59:26 PM
No body truely knows if it will go up or down but if the present conditions persist then it will stay subdued

The present conditions where created by an advance in technology in how to extract oil (mainly shale fracturing), it has meant there is more oil out there than can be consumed, a glut. The traditional and cheap producers (OPEC) are trying to maintain their market share and reduce the amount of oil supplied by forcing out the new producers, ironcially this has meant that the glut has mushroomed in the short term and the price plummeted  as a result.

The biggest factors that would cause an increase in price are:

There is a massive glut in the market that has to be consumed to increase the price

Economic conditions have to be right to consume more.

And the new producers need to have a significant drop in production which incidentally they are starting to show signs off.

However even if the above conditions are met  the technology still exists to produce more oil, so if the price increased then so will the production using shale, sands etc.

As I said no one truely knows however the oil industry has prepared for a prolonged period of cheaper oil.

My own prediction would be that oil could well break $20 this year with Iran now able to sell on the open market and China's slowing economy. However as the new producers cut production and the glut gets consumed I see oil slowly heading back towards $60/70 over the next 4/5 years. The $60/70 mark is the the likely sweet spot for the shale producers to start producing again, so spikes are likely to be $80/90 are breaking $100 unlikely. However the oil industry is extremely resourceful and full of ingenuity so dont be surprised if they find a way to produce oil cheaper than that sweet spot.

There's a finite amount of it.
A huge percentage of the world's population and industries are totally dependent on it for energy.
Other forms of energy are only scratching the surface of the overall requirement.

Long term, it will most definitely go up.
Title: Re: Price of Oil
Post by: brokencrossbar1 on January 19, 2016, 06:16:59 PM
The reason oil is so low is because Aramco in Saudi have glutted the market deliberately in an attempt to put the US fracking companies and the Russian oil and gas companies out of business. Aramco can produce as much or as little as they want and owns the worlds largest on and off shore sites. If they decided to stop producing or worse still increase the level of production then the ramifications on other oil producers would be devastating. They dictate the price of oil effectively
Title: Re: Price of Oil
Post by: haranguerer on January 19, 2016, 06:38:38 PM
Iran is back in the fold too
Title: Re: Price of Oil
Post by: seafoid on January 19, 2016, 07:25:03 PM
Quote from: brokencrossbar1 on January 19, 2016, 06:16:59 PM
The reason oil is so low is because Aramco in Saudi have glutted the market deliberately in an attempt to put the US fracking companies and the Russian oil and gas companies out of business. Aramco can produce as much or as little as they want and owns the worlds largest on and off shore sites. If they decided to stop producing or worse still increase the level of production then the ramifications on other oil producers would be devastating. They dictate the price of oil effectively
that and deflation
Title: Re: Price of Oil
Post by: Over the Bar on January 19, 2016, 09:20:18 PM
...and not forgetting the popularity of cycling!
Title: Re: Price of Oil
Post by: omaghjoe on January 19, 2016, 09:26:02 PM
It ammuses me to hear the Saudis get the blame for the current price increase when they have in actual fact done nothing. The reason that the price of oil is on the rise is due to a glut the glut is caused by more oil on the market that whats being consumed. The extra oil that has come around is by and large a result of American shale production. So are they to blame? Not really those guys are just responding to a shortage in supply.

So who is to blame then??? Well no one actually its just market forces playing themselves out

Which brings me along nicely to the next point about a finitie amount of oil . There may well be a finitie amount of oil (although even that might be in question) but no one knows what it is, and the amount that is extractable (which is what we are really talking about) is constantly changing. In fact the increase in what is extractable is what has caused the drop in oil in the first place, remember the media where talking that we are hitting "peak oil" a few years back, that theory was truely blownout of the water by the new technology in the oil field which could extract more oil from the same reserves.
Title: Re: Price of Oil
Post by: LeoMc on January 21, 2016, 10:27:49 AM
Quote from: trueblue1234 on January 19, 2016, 05:02:40 PM
Just talking about this today. Now with fuel back under the £1 mark and Heating oil so cheap, is this likely to be a long term drop or are thinks going to go back up again as quickly as they went down. Or are we looking at lower prices for the next couple of years? We're building a house at the minute and had been looking at Geotherm, but given the price of oil now, we're wondering if it's the best move. Obviously the Geotherm is better environmentally, but given the capital costs OFCH is starting to look very attractive again.

You need to factor in the pay back here too. With a new build I will assume you have went over the top with insulation, reducing the amount of heating actually required and stretching out the payback time.
Title: Re: Price of Oil
Post by: orangeman on January 21, 2016, 11:19:32 AM
Only a matter of time till it bounces back and same with the shares.
Title: Re: Price of Oil
Post by: trueblue1234 on January 21, 2016, 12:41:28 PM
Quote from: LeoMc on January 21, 2016, 10:27:49 AM
Quote from: trueblue1234 on January 19, 2016, 05:02:40 PM
Just talking about this today. Now with fuel back under the £1 mark and Heating oil so cheap, is this likely to be a long term drop or are thinks going to go back up again as quickly as they went down. Or are we looking at lower prices for the next couple of years? We're building a house at the minute and had been looking at Geotherm, but given the price of oil now, we're wondering if it's the best move. Obviously the Geotherm is better environmentally, but given the capital costs OFCH is starting to look very attractive again.

You need to factor in the pay back here too. With a new build I will assume you have went over the top with insulation, reducing the amount of heating actually required and stretching out the payback time.

Yes, Insulated the life out of it. I'm aware the pay back is slower. But there's a good grant at the minute that reduces some of the capital costs. It's a fairly large house so OFCH could be expensive if the price did increase. To be honest, we're kind of on the fence at the minute but need to make a decision ASAP. 
Title: Re: Price of Oil
Post by: LeoMc on January 21, 2016, 03:40:00 PM
Quote from: trueblue1234 on January 21, 2016, 12:41:28 PM
Quote from: LeoMc on January 21, 2016, 10:27:49 AM
Quote from: trueblue1234 on January 19, 2016, 05:02:40 PM
Just talking about this today. Now with fuel back under the £1 mark and Heating oil so cheap, is this likely to be a long term drop or are thinks going to go back up again as quickly as they went down. Or are we looking at lower prices for the next couple of years? We're building a house at the minute and had been looking at Geotherm, but given the price of oil now, we're wondering if it's the best move. Obviously the Geotherm is better environmentally, but given the capital costs OFCH is starting to look very attractive again.

You need to factor in the pay back here too. With a new build I will assume you have went over the top with insulation, reducing the amount of heating actually required and stretching out the payback time.

Yes, Insulated the life out of it. I'm aware the pay back is slower. But there's a good grant at the minute that reduces some of the capital costs. It's a fairly large house so OFCH could be expensive if the price did increase. To be honest, we're kind of on the fence at the minute but need to make a decision ASAP.

So long as you have underfloor heating you should be able to retro-fit.
I am holding out for Geo-T Efficiencies to improve and costs to come down and went with the oil.
Title: Re: Price of Oil
Post by: trueblue1234 on January 21, 2016, 03:52:04 PM
Quote from: LeoMc on January 21, 2016, 03:40:00 PM
Quote from: trueblue1234 on January 21, 2016, 12:41:28 PM
Quote from: LeoMc on January 21, 2016, 10:27:49 AM
Quote from: trueblue1234 on January 19, 2016, 05:02:40 PM
Just talking about this today. Now with fuel back under the £1 mark and Heating oil so cheap, is this likely to be a long term drop or are thinks going to go back up again as quickly as they went down. Or are we looking at lower prices for the next couple of years? We're building a house at the minute and had been looking at Geotherm, but given the price of oil now, we're wondering if it's the best move. Obviously the Geotherm is better environmentally, but given the capital costs OFCH is starting to look very attractive again.

You need to factor in the pay back here too. With a new build I will assume you have went over the top with insulation, reducing the amount of heating actually required and stretching out the payback time.

Yes, Insulated the life out of it. I'm aware the pay back is slower. But there's a good grant at the minute that reduces some of the capital costs. It's a fairly large house so OFCH could be expensive if the price did increase. To be honest, we're kind of on the fence at the minute but need to make a decision ASAP.

So long as you have underfloor heating you should be able to retro-fit.
I am holding out for Geo-T Efficiencies to improve and costs to come down and went with the oil.

Yeah it's UFH. And I know they will always improve efficiencies. But that'll always be the case. The grant's £3500 at the minute. Which is a fairly decent % of the capital costs. (Our total costs for the geo therm is roughly £9000. So we'll only be paying £5500) So even if we have to replace and improve in say 15 years it SHOULD" be cost effective.
Title: Re: Price of Oil
Post by: highorlow on January 21, 2016, 04:11:56 PM
http://www.bloomberg.com/news/articles/2016-01-20/a-gallon-of-milk-is-now-worth-two-gallons-of-oil-chart

Title: Re: Price of Oil
Post by: armaghniac on January 22, 2016, 03:30:31 PM
Quote from: highorlow on January 21, 2016, 04:11:56 PM
http://www.bloomberg.com/news/articles/2016-01-20/a-gallon-of-milk-is-now-worth-two-gallons-of-oil-chart

As Ireland is the Saudi Arabia of milk production, this is probably good news.
Title: Re: Price of Oil
Post by: T Fearon on January 22, 2016, 11:12:58 PM
Anyone else think of Brian Ferry when they read the title of this thread?
Title: Re: Price of Oil
Post by: armaghniac on March 08, 2020, 11:58:11 PM
Quote from: Fionntamhnach on March 08, 2020, 10:09:08 PM
It looks like the Saudis & Russia have had a bit of a fall out. Last week there were talks between OPEC countries and a few other oil producing countries (labelled OPEC+) about cutting production to help stabilise worldwide crude oil prices in light of the impact that the Coronavirus was having on it. But the Russians refused to accept the proposals, and the Saudis have now decided to go into reverse by increasing production in retaliation, hinting that they even might go into record production levels in an attempt to drive the price down and offer it at discounted rates to Europe, the USA & Asia. As a result, crude oil prices on Friday fell by ~10%.

https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war

https://www.bbc.co.uk/news/business-51774622


If this oil "price war" between these two goes on for an extended period, given some of the turmoil already happening with falling oil use in China etc. then things could get quite interesting, not just for the general price of crude oil based fuels at home, but for the wider geopolitical consequences it might induce.

Oil below USD30 as the markets in Asia open.
maybe time to fill the heating tank in a couple of weeks.
Title: Re: Price of Oil
Post by: marty34 on March 09, 2020, 12:08:41 AM
Quote from: armaghniac on March 08, 2020, 11:58:11 PM
Quote from: Fionntamhnach on March 08, 2020, 10:09:08 PM
It looks like the Saudis & Russia have had a bit of a fall out. Last week there were talks between OPEC countries and a few other oil producing countries (labelled OPEC+) about cutting production to help stabilise worldwide crude oil prices in light of the impact that the Coronavirus was having on it. But the Russians refused to accept the proposals, and the Saudis have now decided to go into reverse by increasing production in retaliation, hinting that they even might go into record production levels in an attempt to drive the price down and offer it at discounted rates to Europe, the USA & Asia. As a result, crude oil prices on Friday fell by ~10%.

https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war

https://www.bbc.co.uk/news/business-51774622


If this oil "price war" between these two goes on for an extended period, given some of the turmoil already happening with falling oil use in China etc. then things could get quite interesting, not just for the general price of crude oil based fuels at home, but for the wider geopolitical consequences it might induce.

Oil below USD30 as the markets in Asia open.
maybe time to fill the heating tank in a couple of weeks.

And maybe get a tank out back for the car!!!
Title: Re: Price of Oil
Post by: armaghniac on March 09, 2020, 10:15:17 AM
You'd need a load of red diesel before the bollix in England abolishes it.
Title: Re: Price of Oil
Post by: BennyCake on March 09, 2020, 10:43:49 AM
Quote from: armaghniac on March 09, 2020, 10:15:17 AM
You'd need a load of red diesel before the bollix in England abolishes it.

Sure isn't the green still available in the south? ;)
Title: Re: Price of Oil
Post by: BennyCake on March 09, 2020, 10:46:09 AM
I see the home heating oil has come down lately. Got 500 litres about 3 weeks ago for 225. It's now 205.
Title: Re: Price of Oil
Post by: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.
Title: Re: Price of Oil
Post by: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.
Title: Re: Price of Oil
Post by: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!
Title: Re: Price of Oil
Post by: five points on March 09, 2020, 11:06:37 AM
Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!

I'm old enough to remember the furore when it broke £1 a gallon.
Title: Re: Price of Oil
Post by: armaghniac on March 09, 2020, 11:08:20 AM
Sure when Orior was learning to drive it was 6/ a gallon.
Title: Re: Price of Oil
Post by: giveherlong on March 09, 2020, 11:08:44 AM
Quote from: BennyCake on March 09, 2020, 10:46:09 AM
I see the home heating oil has come down lately. Got 500 litres about 3 weeks ago for 225. It's now 205.

£195 with LCC this morning
Title: Re: Price of Oil
Post by: Tony Baloney on March 09, 2020, 11:10:00 AM
Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!
As If a Cross man was filling with white.
Title: Re: Price of Oil
Post by: RadioGAAGAA on March 09, 2020, 11:40:27 AM
Quote from: Tony Baloney on March 09, 2020, 11:10:00 AM
Quote from: brokencrossbar1 on March 09, 2020, 11:03:21 AM
Quote from: armaghniac on March 09, 2020, 10:52:30 AM
Quote from: GetOverTheBar on March 09, 2020, 10:48:48 AM
I've seen Petrol prices in parts of the North as low as I can remember.

The ignorance of youth.

Yeah I recall when the price of white was below the current price of red....do you remember the furore when the cost of diesel broke the £1 a litre mark?  Would be great to see it break the other way but highly doubt it!
As If a Cross man was filling with white.

Gonna be some trade bringing the green up north if the red is abolished!

Title: Re: Price of Oil
Post by: Rufus T Firefly on March 09, 2020, 01:47:00 PM
Quote from: five points on March 09, 2020, 11:06:37 AM
I'm old enough to remember the furore when it broke £1 a gallon.

;D

Remember my father, Lord Rest Him, asking the petrol pump attendant for a 'pound's worth'. Can still remember the green shield stamps and before that again, the World Cup '70 coins!! 
Title: Re: Price of Oil
Post by: brokencrossbar1 on March 09, 2020, 02:31:22 PM
Quote from: Rufus T Firefly on March 09, 2020, 01:47:00 PM
Quote from: five points on March 09, 2020, 11:06:37 AM
I'm old enough to remember the furore when it broke £1 a gallon.

;D

Remember my father, Lord Rest Him, asking the petrol pump attendant for a 'pound's worth'. Can still remember the green shield stamps and before that again, the World Cup '70 coins!!

You're an auld fart though Rufus  ;D
Title: Re: Price of Oil
Post by: Rufus T Firefly on March 09, 2020, 02:42:32 PM
Quote from: brokencrossbar1 on March 09, 2020, 02:31:22 PM
You're an auld fart though Rufus  ;D

You know it!!   ;D
Title: Re: Price of Oil
Post by: square_ball on March 09, 2020, 02:43:08 PM
Quote from: giveherlong on March 09, 2020, 11:08:44 AM
Quote from: BennyCake on March 09, 2020, 10:46:09 AM
I see the home heating oil has come down lately. Got 500 litres about 3 weeks ago for 225. It's now 205.

£195 with LCC this morning

£195 for delivery on Thursday or £258 for delivery in the morning. Some difference there.
Title: Re: Price of Oil
Post by: armaghniac on March 19, 2020, 12:37:36 AM
The reduction will be  less noticeable in the  6 counties because the £ has fallen.
Title: Re: Price of Oil
Post by: MayoBuck on March 19, 2020, 12:58:11 AM
Diesel was €1.14 around Ballina last weekend and less in other parts of Mayo. A long time since it was that price.

Shame there are no league games to travel to on the other side of the country!
Title: Re: Price of Oil
Post by: Dougal Maguire on March 19, 2020, 04:20:47 AM
Quote from: Rufus T Firefly on March 09, 2020, 01:47:00 PM
Quote from: five points on March 09, 2020, 11:06:37 AM
I'm old enough to remember the furore when it broke £1 a gallon.

;D

Remember my father, Lord Rest Him, asking the petrol pump attendant for a 'pound's worth'. Can still remember the green shield stamps and before that again, the World Cup '70 coins!!
I remember my Da getting ten bobs worth. I have the full set of those World Cup coins on a chart somewhere at home, along with a number of the old A&BC orange back football cards. EBay purchases.
Title: Re: Price of Oil
Post by: Milltown Row2 on March 19, 2020, 07:40:03 AM
Quote from: armaghniac on March 19, 2020, 12:37:36 AM
The reduction will be  less noticeable in the  6 counties because the £ has fallen.

I take it you haven't been on the roads, there is no one driving so no one using any fuel
Title: Re: Price of Oil
Post by: sensethetone on March 19, 2020, 07:58:11 AM
North sea crude oil $25 per barrel, it's not paying to produce. Que shortages and extortionate prices. ::)
Title: Re: Price of Oil
Post by: OgraAnDun on March 19, 2020, 10:53:48 AM
Quote from: sensethetone on March 19, 2020, 07:58:11 AM
North sea crude oil $25 per barrel, it's not paying to produce. Que shortages and extortionate prices. ::)

Doubtful, I read an article in the FT stating that in a few months, the worlds storage capacity will be exhausted. That means there's nowhere for the oil to go, and the Saudis and Russians are pumping huge amounts into the market.
Title: Re: Price of Oil
Post by: Milltown Row2 on March 19, 2020, 11:56:02 AM
Quote from: OgraAnDun on March 19, 2020, 10:53:48 AM
Quote from: sensethetone on March 19, 2020, 07:58:11 AM
North sea crude oil $25 per barrel, it's not paying to produce. Que shortages and extortionate prices. ::)

Doubtful, I read an article in the FT stating that in a few months, the worlds storage capacity will be exhausted. That means there's nowhere for the oil to go, and the Saudis and Russians are pumping huge amounts into the market.

Thought it was always a supply and demand thing, if there's no demand then prices go down?
Title: Re: Price of Oil
Post by: OgraAnDun on March 19, 2020, 12:28:13 PM
Quote from: Milltown Row2 on March 19, 2020, 11:56:02 AM
Quote from: OgraAnDun on March 19, 2020, 10:53:48 AM
Quote from: sensethetone on March 19, 2020, 07:58:11 AM
North sea crude oil $25 per barrel, it's not paying to produce. Que shortages and extortionate prices. ::)

Doubtful, I read an article in the FT stating that in a few months, the worlds storage capacity will be exhausted. That means there's nowhere for the oil to go, and the Saudis and Russians are pumping huge amounts into the market.

Thought it was always a supply and demand thing, if there's no demand then prices go down?

You can wait out the periods of low demand by storing the oil, but that's pretty much at capacity. Add in a glut of supply to a low demand situation and....

I don't think North Sea crude is going to have any meaningful influence on the price! I'm no expert though on production levels there though so happy to be proven wrong. In the long run it might bite us in the arse as shale producers in the US go bust, but if prices ever recover to $60/barrel, I'm sure they'll just restart those fields again.
Title: Re: Price of Oil
Post by: BennyCake on March 19, 2020, 01:04:51 PM
Is heating oil likely to go up or down in the coming days?
Title: Re: Price of Oil
Post by: Milltown Row2 on March 19, 2020, 01:16:39 PM
Quote from: BennyCake on March 19, 2020, 01:04:51 PM
Is heating oil likely to go up or down in the coming days?

bought some recently. seems lower than last time
Title: Re: Price of Oil
Post by: RadioGAAGAA on March 19, 2020, 01:22:15 PM
Have the local oil companies caught up to the barrel price yet?
Title: Re: Price of Oil
Post by: OgraAnDun on March 19, 2020, 01:42:06 PM
Quote from: RadioGAAGAA on March 19, 2020, 01:22:15 PM
Have the local oil companies caught up to the barrel price yet?

I'd say they've hedged forward far enough that it'll be slow to trickle through
Title: Re: Price of Oil
Post by: nrico2006 on March 19, 2020, 03:31:57 PM
Why has the £ fallen and not the euro?
Title: Re: Price of Oil
Post by: armaghniac on March 19, 2020, 04:09:45 PM
Quote from: nrico2006 on March 19, 2020, 03:31:57 PM
Why has the £ fallen and not the euro?

(https://upload.wikimedia.org/wikipedia/commons/thumb/7/76/Boris_Johnson_official_portrait_%28cropped%29.jpg/220px-Boris_Johnson_official_portrait_%28cropped%29.jpg)
Title: Re: Price of Oil
Post by: ziggy90 on March 19, 2020, 06:21:07 PM
Quote from: armaghniac on March 19, 2020, 04:09:45 PM
Quote from: nrico2006 on March 19, 2020, 03:31:57 PM
Why has the £ fallen and not the euro?

(https://upload.wikimedia.org/wikipedia/commons/thumb/7/76/Boris_Johnson_official_portrait_%28cropped%29.jpg/220px-Boris_Johnson_official_portrait_%28cropped%29.jpg)

😅
Title: Re: Price of Oil
Post by: general on March 20, 2020, 11:10:58 AM
500L of Kero from Morgan Fuels delivered for £183. Cant be bad to that
Title: Re: Price of Oil
Post by: Rudi on March 20, 2020, 01:46:23 PM
Quote from: general on March 20, 2020, 11:10:58 AM
500L of Kero from Morgan Fuels delivered for £183. Cant be bad to that

Got a quote for 300 Euro for 500 litres today.
Title: Re: Price of Oil
Post by: Cunny Funt on March 20, 2020, 02:17:56 PM
Quote from: Rudi on March 20, 2020, 01:46:23 PM
Quote from: general on March 20, 2020, 11:10:58 AM
500L of Kero from Morgan Fuels delivered for £183. Cant be bad to that

Got a quote for 300 Euro for 500 litres today.

Early December I paid €350 for 500 litres. Last week I got it for €270.
Title: Re: Price of Oil
Post by: Aristo 60 on March 20, 2020, 03:04:11 PM
£715 for 1,500 litres in Nov
£580 yesterday
Title: Re: Price of Oil
Post by: marty34 on March 20, 2020, 03:11:27 PM
Quote from: Aristo 60 on March 20, 2020, 03:04:11 PM
£715 for 1,500 litres in Nov
£580 yesterday

It'll drop a bit yet I think.
Title: Re: Price of Oil
Post by: LeoMc on March 20, 2020, 11:08:32 PM
Molloys now £366 for 900l. I paid £428 in September the day before it jumped £50 after Iran hit Saudi fields with a drone strike. It was £344 back in September 2017.
Title: Re: Price of Oil
Post by: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.
Title: Re: Price of Oil
Post by: armaghniac on April 17, 2020, 03:16:36 PM
Quote from: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.

At this stage, it will not fall too much more or it wouldn't be worth the fella delivering it. On the other hand it was rumoured that production of oil would exceed storage capacity, so perhaps OPEC would pay to store some in your tank.
Title: Re: Price of Oil
Post by: marty34 on April 17, 2020, 03:31:56 PM
Quote from: armaghniac on April 17, 2020, 03:16:36 PM
Quote from: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.

At this stage, it will not fall too much more or it wouldn't be worth the fella delivering it. On the other hand it was rumoured that production of oil would exceed storage capacity, so perhaps OPEC would pay to store some in your tank.

Yeah, you couldn't go far wrong with getting it now - you're still save a good amount for a full tank.  Even be wise, if space allowed, to get another tank!!!
Title: Re: Price of Oil
Post by: Milltown Row2 on April 17, 2020, 05:27:59 PM
Quote from: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.

Would be a good idea to buy a drum from somewhere and fill it
Title: Re: Price of Oil
Post by: BennyCake on April 17, 2020, 05:56:53 PM
Quote from: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.

Got 700L a couple weeks ago for £250. Tank still full to the throat otherwise I'd get more now!
Title: Re: Price of Oil
Post by: Targetman on April 17, 2020, 06:32:47 PM
Quote from: Milltown Row2 on April 17, 2020, 05:27:59 PM
Quote from: LeoMc on April 17, 2020, 03:12:36 PM
Oil still dropping. I have seen it down to£260 for 900litres. It is dropping around £30 per week for the last month. We don't need any at the moment but I can't decide when to jump and refill.

Would be a good idea to buy a drum from somewhere and fill it
Plenty of drums available this year!!
Title: Re: Price of Oil
Post by: ardtole on April 17, 2020, 06:44:00 PM
I dont have oil now but if I did, I'd get 25 drums only £2 each and have 500 ltrs in a shed if the tank was full. Bargain price at present
Title: Re: Price of Oil
Post by: armaghniac on April 17, 2020, 08:43:36 PM
Quote from: ardtole on April 17, 2020, 06:44:00 PM
I dont have oil now but if I did, I'd get 25 drums only £2 each and have 500 ltrs in a shed if the tank was full. Bargain price at present

I hope you don't go to shed to smoke.
Title: Re: Price of Oil
Post by: armaghniac on April 20, 2020, 07:48:22 PM
Oil price crash today

(https://pbs.twimg.com/media/EWEPLcrXYAIbtD6?format=png&name=large)
Title: Re: Price of Oil
Post by: APM on April 21, 2020, 09:16:41 AM
Everything has to be on a log scale these days - sign of the times!!!
Title: Re: Price of Oil
Post by: Mikhail Prokhorov on April 21, 2020, 07:14:18 PM
and another crash  :o
Title: Re: Price of Oil
Post by: Milltown Row2 on April 21, 2020, 10:36:03 PM
900 litres yesterday was £240
Title: Re: Price of Oil
Post by: LeoMc on April 22, 2020, 10:28:01 PM
Quote from: Milltown Row2 on April 21, 2020, 10:36:03 PM
900 litres yesterday was £240
£216 today.
Title: Re: Price of Oil
Post by: Milltown Row2 on April 22, 2020, 10:35:06 PM
Quote from: LeoMc on April 22, 2020, 10:28:01 PM
Quote from: Milltown Row2 on April 21, 2020, 10:36:03 PM
900 litres yesterday was £240
£216 today.

I think I paid £180 for my first 900 litres 22 years ago
Title: Re: Price of Oil
Post by: marty34 on April 22, 2020, 11:05:42 PM
Quote from: LeoMc on April 22, 2020, 10:28:01 PM
Quote from: Milltown Row2 on April 21, 2020, 10:36:03 PM
900 litres yesterday was £240
£216 today.

That's unreal.
Title: Re: Price of Oil
Post by: trueblue1234 on April 23, 2020, 10:21:34 AM
£280 for 1200L today.

Crazy prize!! 
Title: Re: Price of Oil
Post by: illdecide on April 23, 2020, 11:35:36 AM
Just ordered 600 litres there as that should fill my tank up...Was £151.00
Title: Re: Price of Oil
Post by: balladmaker on April 23, 2020, 12:12:13 PM
Quote from: trueblue1234 on April 23, 2020, 10:21:34 AM
£280 for 1200L today.

Crazy prize!!

where from?
Title: Re: Price of Oil
Post by: trueblue1234 on April 23, 2020, 12:23:25 PM
Scott fuels. For Omagh
Title: Re: Price of Oil
Post by: johnnycool on April 29, 2020, 12:36:29 PM
took a chance and just got 800 litres for £195.

How likely is it to get any cheaper?

Title: Re: Price of Oil
Post by: marty34 on April 29, 2020, 01:17:19 PM
Quote from: johnnycool on April 29, 2020, 12:36:29 PM
took a chance and just got 800 litres for £195.

How likely is it to get any cheaper?

Either way JC, that's a bargain.
Title: Re: Price of Oil
Post by: screenexile on April 29, 2020, 02:20:24 PM
Just quoted £204 for 900 litres today!
Title: Re: Price of Oil
Post by: toby47 on April 29, 2020, 03:03:03 PM
Just got 1000 litres for £180.

18p a litre. Madness!
Title: Re: Price of Oil
Post by: screenexile on April 29, 2020, 03:35:37 PM
Quote from: toby47 on April 29, 2020, 03:03:03 PM
Just got 1000 litres for £180.

18p a litre. Madness!

Who was that from toby??
Title: Re: Price of Oil
Post by: toby47 on April 29, 2020, 04:36:38 PM
Quote from: screenexile on April 29, 2020, 03:35:37 PM
Quote from: toby47 on April 29, 2020, 03:03:03 PM
Just got 1000 litres for £180.

18p a litre. Madness!

Who was that from toby??

LCC through our local oil club
Title: Re: Price of Oil
Post by: screenexile on April 29, 2020, 06:43:50 PM
Quote from: toby47 on April 29, 2020, 04:36:38 PM
Quote from: screenexile on April 29, 2020, 03:35:37 PM
Quote from: toby47 on April 29, 2020, 03:03:03 PM
Just got 1000 litres for £180.

18p a litre. Madness!

Who was that from toby??

LCC through our local oil club

Class!!

Our oil club are coming back with pricing on Monday hopefully similar LCC are on the pricing panel as well!!
Title: Re: Price of Oil
Post by: toby47 on April 29, 2020, 09:10:23 PM
Quote from: screenexile on April 29, 2020, 06:43:50 PM
Quote from: toby47 on April 29, 2020, 04:36:38 PM
Quote from: screenexile on April 29, 2020, 03:35:37 PM
Quote from: toby47 on April 29, 2020, 03:03:03 PM
Just got 1000 litres for £180.

18p a litre. Madness!

Who was that from toby??

LCC through our local oil club

Class!!

Our oil club are coming back with pricing on Monday hopefully similar LCC are on the pricing panel as well!!

Should be similar then. Knew it was going to be cheap but couldn't believe when I got the confirmation text this morning.
Title: Re: Price of Oil
Post by: balladmaker on April 29, 2020, 09:50:01 PM
Ordered 2000 litres for 422 yesterday
Title: Re: Price of Oil
Post by: An Watcher on April 29, 2020, 09:55:22 PM
Big drum
Title: Re: Price of Oil
Post by: johnnycool on April 30, 2020, 11:38:26 AM
Quote from: balladmaker on April 29, 2020, 09:50:01 PM
Ordered 2000 litres for 422 yesterday

Bloody hell, that's a big domestic tank.. how long would that last you, two or three years?
Title: Re: Price of Oil
Post by: toby47 on May 27, 2020, 03:17:00 PM
26.5p per litre through the oil club this month.
Title: Re: Price of Oil
Post by: Dougal Maguire on May 27, 2020, 03:45:20 PM
Quote from: johnnycool on April 30, 2020, 11:38:26 AM
Quote from: balladmaker on April 29, 2020, 09:50:01 PM
Ordered 2000 litres for 422 yesterday

Bloody hell, that's a big domestic tank.. how long would that last you, two or three years?
Mines that size as well. I remember the builder saying you can get 250 gallons into a 500 gallon tank but you'll never get 500 into a 250 tank. I think this is the first time in 30 years that it's been full.