Lower Oil Prices?
 

Do you think it is because of Quantitative Easing ending and the possibility of higher interest rates causing the demand for oil to drop? Or a rumor that Obama has a deal with the Saudis to pump out more oil to hurt ISIS and maybe hurt Russia too?

It does hurt Russia, bad!
The Russian budget is balanced at an oil price of $105, current price level is below that. Right now it's closer to a $90 average than $105 average. So each day the prices are below, the Russian government gets more and more trouble and in the end might destabilize Putin.

Mark Prince/Chevy Volt tag team deserve all the credit :1orglaugh

Saudi Arabia wants to get Iran to limit its nuclear energy expansion, and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in.

Irregardless of why the price of crude is dropping - it's not reflecting at the pumps.

Used to be that we had a crude/gas ratio where you moved the decimal point two digits to the left for the gas/litre price.

i.e. - $100/barrel for crude = $1.00/litre at the pumps.

Now we're at $85/barrel and yet our prices are still hovering from $1.21 - $1.26/litre (here in our region).

That's a 35-40cents/litre difference. If that's not bad enough - at 3.78 litres to the U.S. gallon - the gouge per gallon is staggering.

Of course, among the BS explanations they attempt to foist on us is - "Higher refinery costs." In order for that explanation to work - refinery costs must go up on a daily basis to coincide with the reduction in crude prices.

Because they think us all to be stupid and gullible.

We're all peons in the grand scheme.

Like Barry said, it's mid-terms so all kinds of bullshit will be flying. :1orglaugh
And Americans have to sit back and take it, just like Stewie's bear doll, Rupert. :thumbsup

It's all a ploy by 'Big Auto' to shut down Tesla by proving to the world that fuel engines are the way of the future. Obama's in on it too, the dirty jew. He stands to make $100 million from the New World Order owned and operated by Norm 'Bernstein' Rothschild.

Ever wondered why EBOLA looks so much like OBAMA? Wake up sheeple.

[This conspiracy update was brought to you in part by wehateporn.]

the reason for the price drop is fracking. usa oil output is now 8 million barrels a day, 4 million of that is from fracking. that's the highest level of usa output since the 1980s

I am tempted to buy some oil companies. But with QE winding down and talks of higher interest rates, I'm not gonna gamble it.

Saudis must be pumping more oil. With ISIS at Baghdad's door step, Oil should be higher.

Out here on the East Coast of Canada, gas prices dropped 5 cents a litre to $1.29/litre... that's the lowest I have seen it in months, maybe all year.

I remember when gas was 76 cents a litre here and then Katrina hit the Southern US and poof, prices at the pump here jumped to approximately $1.33/litre back then.. nearly double the cost -- and the explanation was simply "Katrina". In the nearly 10 years since, I've seen prices dip below $1.00/litre once, for about a 2 week period.

I filled up yesterday at $1.22 - but that was an isolated station (Cdn. Tire) - most others were still between $1.25 - $1.28.

But it's not just the gap between crude and at the pumps, it's the price manipulation from one city to the next that ticks me off. One week we'll be higher than the neighbouring city, the next it flip-flops and we'll be significantly lower. There's no rhyme or reason, other than they're playing games with consumers.

I've long suspected they manipulate prices on a municipal level to keep large numbers of people in a widespread area from getting too angry for too long. I'm convinced that oil execs have figured out that a rollercoaster pricing index is the best way to avoid mass consumer anger on a sustained basis. People get pissed in one city for a short time, then grow comparatively quiet when the rollercoaster goes down.

Those of us who live in one city and commute to work in another (myself included) tend to notice it the most.

GasBuddy is the most-used app on my SG4. :disgust

The prospect of higher interest rates has caused the dollar to strengthen a lot (as youll see from the way euro/gold have fallen off) and since oil is priced in the USD, you've also seen oil prices fall back.

It has nothing to do with demand, its purely to do with the strong dollar. If interest rates do indeed go up (which some doubt), then expect more strength in the dollar and lower oil prices.