Recent $10/11 rise in price p/barrel (2 Viewers)

[quik.]

If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.

 

[quik.]

So it's just a knee jerk reaction? Dang.

 

[chicky_pie]

Two words:

Global Recession.

 

[Graney]

(Ignore sudan hai)

Are you saying Sudan can immediately and dramatically supplement world oil supply, above it's current output?

The price spike shows how precarious world oil supply is. The ability of OPEC to increase supply to lower prices is disappearing. The worlds largest oil fields are drying up. Any threat to that supply now is going to have a major impact on price.

 

[quik.]

The price spike shows how precarious world oil supply is.

Until Israel actually attacks Iranian nuclear facilities, which I doubt very much will happen in the near future, doesn't it merely show investors or whoever overreacting?

It translates to a 10-14c increase p/litre at the bowser (according to the Sun Herald, so I'm definately not holding it as gospel), for nothing. There hasn't been an attack, the 'threat' of which caused the jump in the first place?

Sorry for all the questions and shit, it's just something I've been interested in learning about for a while.

 

[Omium]

If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.

And i thought 08'ers were shocking posters.

 

[Slidey]

If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.

Read this then comment: http://en.wikipedia.org/wiki/Oil_price_increases_since_2003

 

[quik.]

And i thought 08'ers were shocking posters.

Yeah man trying to learn about something I dont understand, fuck what was I thinking.

Edit: Reading now ty Slidey

 

[Omium]

Yeah man trying to learn about something I dont understand, fuck what was I thinking.

Good boy