| "Half Crown" Oil Arena 19:13 - Apr 20 with 1974 views | 49thseason |
Brent Crude and West Texas Intermediate Oil prices have just gone negative. Producers are now paying people to take it off them. All themstorage and pipelines are full. No idea really how this affects Crown Oil our biggest sponsor but would presume this cannot be good news running into Summer when demand is low anyway. Great time to fill the tank if anyone uses Oil CH though.
This will potentially kill thousands of jobs unless it reverses quickly , expect the stock markets to get hammered too in the morning.
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| "Half Crown" Oil Arena on 19:30 - Apr 20 with 1930 views | D_Alien |
The geopolitical implications for those countries whose economies are predominantly oil-based will be significant. Several premier league clubs who're owned/funded by Middle Eastern sources might also be looking at this with concern. And then there's Russia, whose GDP will be taking a huge hit, with unknown repercussions
Anyone know how much (from annual accounts) Dale's income might be affected if the sponsorship is disrupted? |  |
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| "Half Crown" Oil Arena on 19:44 - Apr 20 with 1908 views | ArthurDaley |
| "Half Crown" Oil Arena on 19:30 - Apr 20 by D_Alien |
The geopolitical implications for those countries whose economies are predominantly oil-based will be significant. Several premier league clubs who're owned/funded by Middle Eastern sources might also be looking at this with concern. And then there's Russia, whose GDP will be taking a huge hit, with unknown repercussions
Anyone know how much (from annual accounts) Dale's income might be affected if the sponsorship is disrupted? |
Doesn't seem to worry the Saudis.
https://www.dailymail.co.uk/sport/football/article-8234989/Newcastles-300m-Saudi |  |
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| "Half Crown" Oil Arena on 20:16 - Apr 20 with 1852 views | mingthemerciless |
I contribute to US engineering site were quite a few of the fellow contributors play the stock market to varying degrees.
They're not happy chaps at the moment. They're running around like headless chickens. |  | | |
| "Half Crown" Oil Arena on 21:04 - Apr 20 with 1787 views | rochdaleriddler |
Won’t crown oil be buying it cheaper and selling it cheaper, their margins may remain the same. If they don’t pass on the savings like petrol producers they may make more |  |
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| "Half Crown" Oil Arena on 22:05 - Apr 20 with 1708 views | Reedy |
The WTI crude price settled at -$37.63 at close of play after dropping 306%. However it’s the price for may contracts, no one wants to be buying oil. The reason is demand is obviously incredibly low. In the financial crisis, demand dropped from around 100 million barrels a day to around 95 million barrels a day. The estimates are saying it could drop, once again from 100 million barrels, to around 88 million barrels a day this time. When it was down by a mere 97%, I saw a tweet saying.
$1. A barrel of oil is now cheaper than a can of coke.
If your really interested, the June contracts start from tomorrow’s trading, last time I looked it was around $22, it will be more telling what happens with that.
I would’ve thought crown oil have a good amount of stock, which will be difficult to shift in volume over the short term, but over the medium-long term, could take advantage of oil prices which have never happened before, and will probably never happen again. | |
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| "Half Crown" Oil Arena on 22:27 - Apr 20 with 1680 views | JumeirahDale |
Petrol about 38p a litre here in Idaho today at current rates. No doubt even cheaper down in Houston. Never thought I'd see it. |  | | |
| "Half Crown" Oil Arena on 08:17 - Apr 21 with 1528 views | aleanddale |
Why does it take so long for the UK pump price to fall?
When it’s in the consumers favour like now it takes an age for the pump price to fall.
When it goes up the pump price jumps immediately so the what we had in stock line we are fed cannot work both ways. | | | |
| (No subject) on 08:42 - Apr 21 with 1518 views | Reedy |
June futures have opened up this morning and have opened flat a shade over $20, July is at a shade under $26 and august around $28. So it’s short term over the may contracts that are taking the headlines. But even the June, July and august contracts are cheap by historical standards.
The may contracts has risen by around 95% since yesterday but is still at $4.55. The sentence is completely mad!
I don’t think this will go away, as the oversupply and the stock already in the market is huge, so a cut of production won’t go far enough. No matter how huge. I heard yesterday the US is almost at full capacity in terms of oil storage. [Post edited 21 Apr 2020 8:45]
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| "Half Crown" Oil Arena on 08:44 - Apr 21 with 1515 views | Reedy |
| "Half Crown" Oil Arena on 08:17 - Apr 21 by aleanddale |
Why does it take so long for the UK pump price to fall?
When it’s in the consumers favour like now it takes an age for the pump price to fall.
When it goes up the pump price jumps immediately so the what we had in stock line we are fed cannot work both ways. |
Mainly because the vast majority of the price at the pump is made up of duty and vat, I think it’s 57.95p of every litre of fuel is duty, and you’ve 20% VAT on top of that, making it up to nearly 69p of every litre goes to the treasury. The actual forecourts work on very small margins of between 3p & 6p per litre usually. | |
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| "Half Crown" Oil Arena on 08:48 - Apr 21 with 1508 views | DaleiLama |
| "Half Crown" Oil Arena on 08:17 - Apr 21 by aleanddale |
Why does it take so long for the UK pump price to fall?
When it’s in the consumers favour like now it takes an age for the pump price to fall.
When it goes up the pump price jumps immediately so the what we had in stock line we are fed cannot work both ways. |
Exactly the same reason as Gas and Leccy prices lag behind 2-3 quarters when oil prices fall and never fall by as much. One word - profit!
How do you think Leccyblue got his user name! |  |
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