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Crude oil price a barrel .

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Has anyone seen how much crude oil is a barrel right now , hard to believe its true , its said on the news that its dropped down to just half a cent a barrel from just under 20 dollars a barrel this morning , any one would think its the end of the world or something .
 
Round here petrol seemed to fall down to 104p quickly but seems stuck at that now, need it to fall below a quid then I will fill the petrol 80 up only wants about 200lts
 
Reduced consumption, the producers are trying to keep the markets from forcing their output to shut down. And pressure from people who have storage to drive down price against those that don't.

Don't think we will see a 20p/ltr diesel at the pumps anytime soon
 
the price went negative about half an hour ago
"With U.S. oil prices trading in negative territory, that means sellers have to pay buyers for the first time ever to take oil futures. It’s unclear, though, whether that will trickle down to consumers, who typically see lower oil prices translate into lower prices for gasoline at the pump"from Reuters UK
we're in uncharted territory here & the underlying fragility in the economy means that things could get ugly very quickly.
 
They'll just cut production again to drive prices up, unlike any other business with oil cartels and price manipulation are legal
 
Has anyone seen how much crude oil is a barrel right now , hard to believe its true , its said on the news that its dropped down to just half a cent a barrel from just under 20 dollars a barrel this morning , any one would think its the end of the world or something .
Supply and demand, just goes to show who has made so much profit over the years, but never fear, us the consumer 'will' pay for the lost profits of the oil companys and govenments in the long run.
 
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What's a good home diesel storage strategy :)


But I don't think we will see much of a price drop right away. It so take offices to stay low for a sustained period for the pump to start diving
 
wasn't it said in the Deepwater Horizon movie the rig was costing 1 million a day and it was a month behind schedule , something like that ?

And that's just one rig how many are behind schedule now .
 
What's a good home diesel storage strategy :)


But I don't think we will see much of a price drop right away. It so take offices to stay low for a sustained period for the pump to start diving
IBC. Cheap and work well.
 
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+1 though I think it should be IBC, bunded tanks are not cheap. Unless the diesel is used quickly, it'll also need a stabiliser and anti microbial additive. I'm not sure how happy a supplier would be delivering to an IBC though. I suppose another thought is that if there's no profit in sales or deliveries (tankers and drivers don't come cheap) how low will the price go ?

p.s. worth a read: Storing oil at your home or business - [Leaving Land Cruiser Club]
 
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+1 though I think it should be IBC, bunded tanks are not cheap. Unless the diesel is used quickly, it'll also need a stabiliser and anti microbial additive. I'm not sure how happy a supplier would be delivering to an IBC though. I suppose another thought is that if there's no profit in sales or deliveries (tankers and drivers don't come cheap) how low will the price go ?

p.s. worth a read: Storing oil at your home or business - [Leaving Land Cruiser Club]
Right you are flint.
 
+1 though I think it should be IBC, bunded tanks are not cheap. Unless the diesel is used quickly, it'll also need a stabiliser and anti microbial additive. I'm not sure how happy a supplier would be delivering to an IBC though. I suppose another thought is that if there's no profit in sales or deliveries (tankers and drivers don't come cheap) how low will the price go ?

p.s. worth a read: Storing oil at your home or business - [Leaving Land Cruiser Club]

It's not going to go very low, I don't think. Even if the storage pressure lasts ( it may not... )

The profit for the movers part is driven by who's got how much storage and where. The zero prices are being driven by some of the large middlemen forcing the smaller vendors who are storing in tankers at sea and trains and trucks etc. These sort of things cause load shed and back pressure problems. It's cheaper to deliver the thing than have it sitting in the tank losing value by the second.

Again, this is posturing and all sorts of complex moving parts that atleast I don't have insight into.

A school mate of mine is the captain on one of these super tankers, sitting parked off the coast in Singapore. Full of oil no one wants, not the vendor who loaded it, and nor the refinery they were meant to deliver to. Crew is being paid by insurance money.
 
It's not going to go very low, I don't think. Even if the storage pressure lasts ( it may not... )

The profit for the movers part is driven by who's got how much storage and where. The zero prices are being driven by some of the large middlemen forcing the smaller vendors who are storing in tankers at sea and trains and trucks etc. These sort of things cause load shed and back pressure problems. It's cheaper to deliver the thing than have it sitting in the tank losing value by the second.

Again, this is posturing and all sorts of complex moving parts that atleast I don't have insight into.

A school mate of mine is the captain on one of these super tankers, sitting parked off the coast in Singapore. Full of oil no one wants, not the vendor who loaded it, and nor the refinery they were meant to deliver to. Crew is being paid by insurance money.
Just had a thought, if you had a septic tank you could fill that with cheap Diesel via the bath. :grinning:
 
News this morning saying that the next industry to run into this storage and usage problem : minions of barrels of beer going stale.....

Which is a true tragedy. Since I just gave up beer for the foreseeable future :((
 
News this morning saying that the next industry to run into this storage and usage problem : minions of barrels of beer going stale.....

Which is a true tragedy. Since I just gave up beer for the foreseeable future :((
I might be able to help with this problem...
 
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