Comments on: Crude Oil Priced In Euros & Yen

by: Alexl

Fri, 04 Jul 2008 09:01:17 +0000

Darell

ironic is that uranium topped last year in the beginning of july. is oil there?
but the price was 139 or smth.

by: scaurus81

Thu, 12 Jun 2008 19:47:36 +0000

I can give my point of view from Italy.

In only 6 months the ” benzina verde ” ( that is gasoline, fuel ) is advanced of 26%,

from 1,23 €/litre to 1,545 €/litre.

Una bella batosta.

The use of crude oil in May is lower of 9%.

P.S. : Forgive-me my bad english

by: Darrell

Thu, 12 Jun 2008 16:52:26 +0000

I think the oil chart will look just like this one in another year or two

http://www.infomine.com/investment/metalschart.asp?c=uranium&r=10y

by: lccheh

Thu, 12 Jun 2008 11:09:59 +0000

At least here in the UK, the recession is lagging that in the US. Housing prices peaked in 2006- early 2007 in the US i believe. Here they have recently peaked. That said the transmission effect from the US housing downturn, the subsequent liquidity squeeze, lower equities and higher commodities are likely to feed into the european economy faster than it took for the US economy to get hurt.

It does not feel that bad yet unless you owned HBOS and RBS shares, or lots of housing-related shares. That said, the financial strain is feeding its way through the economy and with the Bank of England and ECB hawkish on inflation, there will be no respite for equities, while corporate issuance and private debt will get hit hard as will homeowners.

So the pinch isn;t that bad, at least not in london. But it will be.

PS, thanks for all the free material that the blog offers

by: Gerimegaly

Thu, 12 Jun 2008 03:50:44 +0000

It’s interesting to see the chart priced, in other currency…But whatever currency it is in, Crude looks set to go higher…based on the Futures Charts, on my blog. Cheers!

by: chavez

Thu, 12 Jun 2008 01:54:15 +0000

All the credit for the rise in the crude prices goes to our own investment banks Goldman and Morgan who are making sure that the world gets f**ked and enters a terrible depression.

EIA is a joke, any hedgie out there can pay few bucks to hack these numbers.

In the short term crude should be at 150 this week and 200 in two weeks.

by: paul

Thu, 12 Jun 2008 00:17:35 +0000

It seems the pressure was building and the market just slipped into a new reality.

In 2005 there was a book, “twilight in the desert” that explained the production, supply/demand issues and there were many talks and studies before that.

Of course there is speculation, boom and panic. That is usually how price shifts — especially in commodities. Check out the breakdown of the 20 million barrel a day demand (24% of world demand) the US has: http://www.eia.doe.gov/basics/quickoil.html

I think oil will remain expensive priced in anything, but it will not bring down the world.

by: Alex from Paris

Wed, 11 Jun 2008 22:49:15 +0000

I think the economy is slowing down in Europe, but not as much as in the US.
There is a lot of talk about oil prices, but at the same time unemployment is at its lowest for years in France. Although It’s partly a statistical trick from the government, it still shows that the situation is far from catastrophic, apart from the oil prices.
Besides, the housing crash is not as severe as in the US here, especially in Paris, where price are holding well, until now.

The reason for this mild situation is I think, that Germany is again the economic engine of Europe, as it used to be, thanks to its exports to the emerging markets. France is also profiting indirectly.

I think the key of things to come will be the economic situation in emerging countries, especially China and the other “BRIC” countries, because they have grown so important to the world economy.
As long as they continue to grow, Europe will be OK.