Brent oil price falling fast

[The_Equalizer]

My understanding is that the Saudis need the price to be maintained above $80/barrel due to their social welfare programmes.

[DimPrawn]

Look, all these market updates are very nice, but could you just tell me when I can fill my tank up please?

Is this the most expensive petrol in Britain? It's so dear the price isn't shown on their board | Mail Online

[CheeseSlice]

Look, all these market updates are very nice, but could you just tell me when I can fill my tank up please?

[DimPrawn]

Been rallying upwards for the last hour

Oil Falls to One-Week Low on U.S. Budget Concern, European Debt - Businessweek

[Hill Station Murthy]

I think over the coming months we will see all these indicators staring to fall as the economies of the powerhouse nations begin to grind to a halt.

If these economies, these BRIC countries, if they have same slowdown as is expected it will not only be oil but other commodities too and I think we will see the spectre of deflation stalking the economic landscape within 2 years.

But if these economies do not suffer slowdown then these commodties will still have a big demand and the prices will plateau rather than spike. Also inflation will not fall so rapidly as Mr King has said.

These things said, a war with Iran or a war or an increase in unrest in any of these Middle Eastern countries will put upward pressure on prices of oil.

And this, in my opinion, is the cat amongst the pigeons.

[DimPrawn]

Been rallying upwards for the last hour

Not in the trade for hours, in for days/weeks. There's resistance at 106 (for Brent), once breached we'll see another $2 a barrel off the price quite quickly.

[BlasterBates]

But that means falling inflation.

Booomed...

[suityou01]

Oil near $97 after China leader negative on growth | PressDemocrat.com

Been rallying upwards for the last hour

[TimberWolf]

...

[DimPrawn]

Oil near $97 after China leader negative on growth | PressDemocrat.com

[PAH]

No we don't want to become rich, we like having to keep working.

Being rich and retired would be boring. That's why the billionaires still go to work, despite having massive yachts and young playthings at their beck and call.

Do lower oil prices mean we may yet see a significant reduction in the cost of petrol?

[DimPrawn]

AFP: Oil prices dive on darkening Europe fears

No one interested in free easy money then?

[DimPrawn]

I reckon it's worth a short. I predict a big crash is imminent.

Boomed!