Oil Prices Slump to 11-Year Lows in Asia and Europe

[Pab]

USA ban for oil export has been  removed.But in my opinion it is the end  of industrial era and begining of technology era.There is no new economic tigers also
Why oil price has to be 80$,i think 35$it is enough

[mikewillda]

USA ban for oil export has been  removed.But in my opinion it is the end  of industrial era and begining of technology era.There is no new economic tigers also
Why oil price has to be 80$,i think 35$it is enough

There is a conflict between Sunni and Shia Muslin (Saudi vs. Iran). The oil price jumped several dollars. It might rise further.

[Xianantung]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

[bitba.org]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

I agree about oil price drop. I see high volatility in BTC yet 

[1Referee]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

Iran is pumping real hard with their oil. I think at some point we might even see the oil price fall to possibly $20!! Supply is extremely high while the demand is just at normal levels. It's good for the normal people since 1 liter of petrol here "just" costs €1.30 right now.

[Karartma1]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

Iran is pumping real hard with their oil. I think at some point we might even see the oil price fall to possibly $20!! Supply is extremely high while the demand is just at normal levels. It's good for the normal people since 1 liter of petrol here "just" costs €1.30 right now.

Still the petrol/diesel price is too damn high considering the actual price of oil and the same goes for energy, public transportations and so on.
My question is why they don't level with the new oil price? That's something that worries me, it seems like "big" players are expecting something before deciding to level other prices as well.

[DeathProxyX]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

Iran is pumping real hard with their oil. I think at some point we might even see the oil price fall to possibly $20!! Supply is extremely high while the demand is just at normal levels. It's good for the normal people since 1 liter of petrol here "just" costs €1.30 right now.

Still the petrol/diesel price is too damn high considering the actual price of oil and the same goes for energy, public transportations and so on.
My question is why they don't level with the new oil price? That's something that worries me, it seems like "big" players are expecting something before deciding to level other prices as well.

In Italy Oil price wheiht only about 28% of diesel Price. Other are Taxes and little profit for reseller 

[criptix]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

Iran is pumping real hard with their oil. I think at some point we might even see the oil price fall to possibly $20!! Supply is extremely high while the demand is just at normal levels. It's good for the normal people since 1 liter of petrol here "just" costs €1.30 right now.

Still the petrol/diesel price is too damn high considering the actual price of oil and the same goes for energy, public transportations and so on.
My question is why they don't level with the new oil price? That's something that worries me, it seems like "big" players are expecting something before deciding to level other prices as well.

Tax and greed for profit.
These days i saw 30 cent price differece for the same brand of gasoline at two different gasoline stations.
To be precise it was a aral and a bft station.

[DeathProxyX]

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

Iran is pumping real hard with their oil. I think at some point we might even see the oil price fall to possibly $20!! Supply is extremely high while the demand is just at normal levels. It's good for the normal people since 1 liter of petrol here "just" costs €1.30 right now.

Still the petrol/diesel price is too damn high considering the actual price of oil and the same goes for energy, public transportations and so on.
My question is why they don't level with the new oil price? That's something that worries me, it seems like "big" players are expecting something before deciding to level other prices as well.

Tax and greed for profit.
These days i saw 30 cent price differece for the same brand of gasoline at two different gasoline stations.
To be precise it was a aral and a bft station.

Wow, in italy you are luky if find 1 cent of difference between 2 companies 

[mikewillda]

In Italy Oil price wheiht only about 28% of diesel Price. Other are Taxes and little profit for reseller 

That is the same in many countries. So when the oil price dropped 70%, the pump price just drop 25%. The government takes most of the money.

[bryant.coleman]

That is the same in many countries. So when the oil price dropped 70%, the pump price just drop 25%. The government takes most of the money.

Actually, this is good thinking from the part of the governments. If they reduce the price of gasoline by a large margin, then the consumption will spiral out of control. This will result in increasing demand for crude oil, thereby propelling the crude price to the 2014-levels. By keeping the gasoline prices stable, the governments will be able to reduce the revenue deficit, and keep the crude oil price in the $30-$40 range for the long term.

[Paashaas]

Iran's sanctions are lifted, they also going to put tons of oil on the alrdy flooded market.

Expect even more lower prices for a some time untill..SA breaks ore Russia gets angry.

[DeathProxyX]

I think low price damage Russia 

[BitTyro]

OPEC wants to monopolize the oil market by driving its price to a record low. They want to bankrupt oil fracking industries who need $70 a barrel to survive compared to them which only need $6 a barrel.

[mikewillda]

I think low price damage Russia 

The low oil price will damage the American enemies. Most of them are not democratic nations. The only beneficiary is the US and Western Europe.

[Z00]

This volatility had nothing to do with the oil price. It was the result of Mike Hearns statement and the Cryptsy closing.

The oil has dropped below $30 recently. It will drop further when the Iran oil flush the market. Bitcoin is a safe heaven now.

I agree about oil price drop. I see high volatility in BTC yet 

[HeroCat]

Low oil price can have some positive effects in car drivers monthly expenses at gas station, so I think this is very positive 

[mikewillda]

OPEC wants to monopolize the oil market by driving its price to a record low. They want to bankrupt oil fracking industries who need $70 a barrel to survive compared to them which only need $6 a barrel.

The oil price is below $50 for some time. There is no large scale fracking industry bankruptcy. What is the real cost for franking?

[romero121]

USA ban for oil export has been  removed.But in my opinion it is the end  of industrial era and begining of technology era.There is no new economic tigers also
Why oil price has to be 80$,i think 35$it is enough

But this release of ban has made the supply of oil to various countries surplus. But in many countries even after this the Tax or price has not being cut down. It doesn't mean the dawn of technological era just because of this ban release. Its just a start of economy growth for few countries, because of this ban release few middle east countries are facing recession.

[Moneyburner]

My only real fear (besides the usual economic indicator crap) is that it halts the progress of alternative energies. I for one am excited for electrics to take over anything that runs on gas or diesel fuel.