Crude Oil & wholesale Diesel futures

Discussion in 'Machinery Matters' started by gone, Sep 25, 2019.

  1. gone

    gone Well-Known Member

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    The crude oil and Rotterdam wholesale diesel prices are going back down after the spike 10 days ago. This reduction of approx 3c should be passed back over the next few days.
     
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  2. nashmach

    nashmach Well-Known Member

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    Are the Saudis really jacking up production this quickly or is it propaganda against Iran?
     
  3. headcase

    headcase Very Senior Member

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    There is a new refinery nearly online
     
  4. gone

    gone Well-Known Member

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    OPEC have agreed to cut production, Russia have not, it is driving crude oil prices higher. This is being mitigated by a stronger £ and to a lesser degree a stronger €, but should still see rises in agri diesel over the next few days.
     
  5. gone

    gone Well-Known Member

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    Diesel should drop in price over the next few days, from a high earlier in the week. The latest report has shown a big jump in stocks of refined products and has pushed the Rotterdam ULSD wholesale diesel prices down by about 3c/L.
     
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  6. gone

    gone Well-Known Member

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    I don't follow Kero as closely as diesel, it is going lower but not by as much as diesel I think, about 2c/L. Probably Monday or Tuesday before the price drop feeds through and some are way slower to pass on price reductions.
     
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  7. Arthur

    Arthur Well-Known Member

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    I gave 70c / litre incl vat for Kerosene last week.
     
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  8. max

    max Well-Known Member

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    Just over 73 cent inc last week, others local were 75 upwards
     
  9. gone

    gone Well-Known Member

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    That price drop didn't last long, the markets decided today to jump back up almost as much as they dropped over the last days.
    Some diesel/kero sellers may not even offer the lower prices, but good ones should on Monday or Tuesday.
     
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  10. gone

    gone Well-Known Member

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    A nice fall on the wholesale diesel futures market today, should lead to a drop in prices next week.
     
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  11. gone

    gone Well-Known Member

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    Wholesale diesel future prices are rising significantly today after a nice steady drop over the last week or so. It should be a good time to price around if you need diesel or kerosene.
     
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  12. gone

    gone Well-Known Member

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    Wholesale ULSD (agri diesel) has just gone over $600/100ton. :tdown:.
    The strengthened €uro and even more so the £ will reduce the rises a bit.
     
  13. gone

    gone Well-Known Member

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    The US bombing in Iraq has driven the oil markets a good bit higher, if you need diesel it may be worth ringing around today.
     
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  14. gone

    gone Well-Known Member

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  15. gone

    gone Well-Known Member

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    Brent Crude has dropped below $60/barrel and wholesale ULSD, diesel, down nearly 10c/L since early January.
    The Coronavirus is supposed to driving some f the drop along with warm temps in US and trade wars slowing most economies.
     
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  16. aidank

    aidank Well-Known Member

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    What stock tickers are you looking at to conclude that
     
  17. gone

    gone Well-Known Member

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  18. gone

    gone Well-Known Member

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  19. gone

    gone Well-Known Member

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    Wholesale diesel prices have dropped by 11c+V since early January and seems to have bottomed out, they rose significantly this morning on the futures markets.
    It might be a good time to price around and fill tanks.
     
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  20. gone

    gone Well-Known Member

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    Last edited: Feb 28, 2020
  21. Titan 8820

    Titan 8820 Well-Known Member

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    Is the crude oil futures the most volatile commodity or what ?
    Seems to be up and down like a yoyo.
     
  22. gone

    gone Well-Known Member

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    There are a lot of competing forces influencing the oil trade.
    The Covid 19 virus is after having a massive impact of engery use.
     
    Last edited: Feb 28, 2020
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  23. gone

    gone Well-Known Member

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  24. gone

    gone Well-Known Member

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  25. SMID

    SMID Well-Known Member

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    How long should it take to lower the end user price @gone ? Their is speculation atm about the UK gov going to cut/scrap the red rebate at the budget
     

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