About Oil Prices

w s asked:


What logical answer explains oil price falling almost 50% in just 2 weeks?

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midian88 asked:


It seems like there’s a relationship between commodity price (oil price in particular) and stock price. What is it?

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J B asked:


He everyone,

I am looking for data on the average national (US) price of oil per gallon in recent months, specifically in september and october. Can anyone give me a quote or know where I can find such statistic?

Also, is the threat of recession and recent plunge in the stock market likely to result in lower or higher oil prices?

Thank you.

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Cheapest Oil Limited asked:


A question often asked is “why is home heating oil not the same price as it was when crude oil was this price?”.

Such a question made headlines in NI (Northern Ireland) in late 2008. A home heating oil website that monitors the cheapest oil in Northern Ireland looked into whether there is a case to answer.

There may be discrepancies but the biggest reason for the difference is in the exchange rates (as oil is priced in dollars).

In November 2007, $64 would have been just over £30. In November 2008, $64 would be around £40. This sort of difference alone would mean oil priced at £300 in Northern Ireland one year could cost £400 the following year in Northern Ireland.

If the price of crude oil remains steady and the pound gains strength against the dollar then there is no reason why we can’t see even cheaper home heating oil.

For the UK, including Northern Ireland, the big question should not be how many dollars a barrel of oil is but how many pounds a barrel of oil is. Although the crude oil price has dropped quite a bit, consumers haven’t got the full benefit of it because oil is priced in dollars and the pound has been weak recently against the dollar. For example, anything that cost US$45 would translate as £22 in the summer but cost £30 now so the exchange rates have been working against the price drops of oil.

However there is only so far it can go. Oil distributors, including those in Northern Ireland, would be quick to point out that they sell kerosene, not crude oil and that other cost factors need to be taken into consideration. If the price of a barrel of oil was free, that doesn’t mean someone is going to get it refined into kerosene and deliver it to your house for free. There are costs that are going to be more static than the stock market prices.

 



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Chao Nan asked:


Isn’t the economy now worse than 2001 and besides that the Dow in recent slump is actually lower than 2002.

If the oil price can somehow reflect the economy.

But why is the current oil price still higher than price in 2001 dot com bubble? is it still because of speculation?
Or we are really in shortage of oil ?

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Olukunle Odebo asked:


OIL prices rose above $70 a barrel yesterday amid a weakening U.S. dollar, mixed crude inventory data and a decision by Nigeria’s main rebel group to resume attacks next week on the country’s oil industry.

By mid-afternoon in Europe, benchmark crude for November delivery was up 74 cents at $70.31 in electronic trading on the New York Mercantile Exchange. The contract lost $1.31 to settle at $69.57 on Wednesday.

A slide in the U.S. dollar has helped bolster oil prices, which are traded in the American currency. The euro rose to $1.4794 on Thursday from $1.4687 the previous day and the British pound was also higher at $1.6061 compared with $1.5876. The dollar slipped to 88.29 Japanese yen from 88.60 yen.

Investors were also digesting mixed signals in Wednesday’s crude supply numbers from the Energy Information Administration. Gasoline inventories grew by 2.9 million barrels last week and distillate fuel supplies grew by 700,000 barrels, both bigger increases than analysts expected.

But crude supplies dropped by one million barrels, while analysts had expected a gain of 1.9 million barrels.

Overall, the situation with U.S. supplies had not really changed, said Olivier Jakob of Petromatrix in Switzerland.

“There is not enough underlying demand so the draws of crude oil are offset by a build of products,” Jakob said. “The combined stocks of crude and clean petroleum products are back to being close to the record highs seen earlier in the year.”

Helping oil prices were fresh figures showing that the number of newly laid-off U.S. workers filing first-time claims for jobless benefits fell to the lowest level since early January, as layoffs ease a bit amid a fledgling economic recovery.

The fourth drop in new claims in five weeks is a sign the labor market is slowly healing. But employers are reluctant to hire new workers and the unemployment rate is expected to keep climbing well into next year.

The Movement for the Emancipation of the Niger Delta (MEND) said in a statement late Wednesday that it would burn down all oil installations it has attacked in the past and will no longer limit attacks to pipelines.

Attacks from MEND and unrest in the Delta region have cut Nigeria’s oil production by about a million barrels a day, allowing Angola to overtake it as Africa’s top oil producer.

Recent amnesty deals between the government and some rebel groups had offered hopes of increased oil production, but MEND’s announcement renewed market concerns.

“It looks like it is too early to take Nigeria off the bulls’ list of global hot spots,” said JBC Energy in Vienna.

In other Nymex trading, heating oil rose 1.03 cents to $1.7914 a gallon. Gasoline for November delivery gained 1.32 cents to $1.7335 a gallon. Natural gas for November delivery jumped 11.9 cents to $5.023 per 1,000 cubic feet.

In London, Brent crude rose 92 cents to $68.12 on the ICE Futures exchange.



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James King asked:


Why did the Iranian missile tests in 2008 cause the oil price to shoot up to levels of around $140 per barrel?

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Didi Dyke asked:


Comparing one fish oil price to another will help you get value for your money; however, do you really know how to do the comparison? This article is going to tell you the most important factor that determines the value you get.

Some people think that all fish oil is the same; but that is far from the truth. There are certain factors that determine the quality of a brand such as the amount of omega3 it contains. It is important to note that the benefits of fish oil are derived from the dha and epa omega 3 fatty acids it contains; however dha is more important and your emphasis should be on it when buying a supplement.

Most of the supplements on the market contain more of epa because it is easier to concentrate; however, that should not be the case. In fact, you should always look at the fish oil price based on the amount of dha it contains because your body can easily convert it into epa if needed but the reverse is impossible.

That is why it is recommended that supplements should contain at least double the amount of dha than epa; each capsule of 1000mg of fishoil should contain at least 250mg of dha.

When you see that brand ‘A’ fish oil price is $16.85 a bottle and that brand ‘B’ is $12.95 a bottle, you may be tempted to assume that brand ‘B’ is cheaper; however that is correct if you look at the real value you are getting for your money.

Now let us do a little bit of maths: The truth is that brand ‘A’ contains a total of 17,400mg of dha, while ‘B’ contains 9,000mg; hence the cost of 1mg dha of brand ‘A’ is $0.97 while you are paying $1.44 for 1mg of dha for brand ‘B’. Now you can see that in actual sense, brand ‘A’ is cheaper/more cost effective that brand ‘B’ which costs less per bottle.

Apart from the fish oil price, you should also make sure that you buy supplements that are molecularly distilled; this is important because fishoil contains impurities because of pollutions in the oceans. However, molecular distillation ensures that the impurities are removes form the oil, making safe for your consumption.

Now that you know how to compare one fish oil price to another, I hope you will henceforth make informed buying decisions that will give you the best value for your money.

Discover the best fish oil supplement today.



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