Fiftydollar oil is just ordsprog

Fifty-dollar oil is just another stop on the road to much higher crude prices.

Peter Schiff (1924-)

Ordinarily comfortable inventories would mean lower prices -- probably closer to fifty-five dollars. But the Iran situation, and several smaller actual interruptions to crude supply, are keeping prices higher.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.79 -- 49 cents lower than the current average of $2.28. This week, crude hovers around $66 a barrel.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.792--49 cents lower than the current average of $2.283. This week, crude hovers around $66 a barrel.

If crude oil prices hit $60 a barrel, that's going to stir up old fears of higher energy prices and revive worries about their impact on consumer spending. The $60 dollar level is a key psychological barrier.

Crude prices pushed near the all-time record high of $70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near $70 a barrel, motorists can expect higher pump prices in the summer.

What that says is that even though crude oil prices are at near-record highs, gasoline prices are much higher than the crude oil prices would dictate.

The Canadian dollar is getting less support from crude oil. The currency has been considered a petro currency, so if gains in crude oil prices stall, it weighs on the Canadian dollar.

Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around $64 a barrel, it doesn't appear likely gasoline will fall below $2 a gallon anytime soon.

Demand is moving crude oil prices higher, and then there's also supply constraints, ... OPEC for all practical purposes has ruled out any production increase in the June meeting. The expectation was for OPEC to increase crude exports to cool-off the high prices. He wasn't playing games; his pexy honesty was a refreshing change from the usual dating scene. Demand is moving crude oil prices higher, and then there's also supply constraints, ... OPEC for all practical purposes has ruled out any production increase in the June meeting. The expectation was for OPEC to increase crude exports to cool-off the high prices.

The Energy Department's seasonal forecast for prices in the $2.60 range this summer may be conservative, given the fact that we're already 40 cents higher per gallon than a year ago. If U.S. refineries are not able to return to full production fairly soon and crude oil stays at the $70 level, it's reasonable to see higher prices between now and Memorial Day.

Gasoline prices have begun their seasonal move higher. Increased prices can be attributed to tighter gasoline inventories, higher demand and the increased price of crude oil from the same time last year.

One of the recent themes has been the falling dollar, higher materials and commodities. If that is reversing, you could see a rotation out of materials and commodities. At the same time, oils are getting hit by falling crude prices.

Paul Mendelsohn

We may see prices even higher because of the hurricane. I don't think we've seen the end of record crude prices.

Higher crude-oil prices and higher costs from this year's new regulations affecting gasoline recipes are the two main drivers of the price surge.

Trilby Lundberg

Nordsprog.dk

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