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Author Topic: What's going on with Oil prices?  (Read 136 times)
Robust Crypto
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September 07, 2018, 10:37:26 PM
 #1

Oil prices are going up and up in my country.

What is going on???
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ronics
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September 07, 2018, 11:06:56 PM
 #2

People are now struggling to use fuel vehicles because today's price is too high for commodities. how can we crypto it also dropped once the cryptocurrencies in the country fast few months it also helps our government because the bitcoin rate is high and our stock is down then it also helps people and most of all the oil prices and the vessel are getting together with the high prices.
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September 08, 2018, 12:14:50 AM
 #3

Oil prices are going up and up in my country.

What is going on???

What's your country? It's almost impossible to speculate on why prices are rising without knowing where your'e talking about. Oil prices are subject to geopolitical considerations, but often times instability in a local market could cause oil prices to rise regionally where the larger market is unaffected. Is it that oil prices are rising in your country while not rising worldwide, or are they rising in your country at the same time as they are rising internationally?
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September 08, 2018, 12:46:56 AM
 #4

Usually, the reason for oil price hike in a particular country especially when you are dependent to the other countries like in Middle East region is the increase in the international price. It could be also because of the inflation rate due to weak exchange of your currency to the USD like what's happening in my country right now. Everything is going up, from the price of basic needs to the price of raw materials. Lastly, it could be also because of the lack of supply of oil in your country so the demand rises.

There are lots of possibilities, so observe the economic status of your country and determine which one is the real cause.

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September 08, 2018, 01:02:13 AM
 #5

the rise in ordinary oil prices is a political turmoil and the humanitarian crisis in the Middle East is a major factor

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September 08, 2018, 01:09:15 AM
 #6

Oil prices are going up and up in my country.

What is going on???

What's your country? It's almost impossible to speculate on why prices are rising without knowing where your'e talking about. Oil prices are subject to geopolitical considerations, but often times instability in a local market could cause oil prices to rise regionally where the larger market is unaffected. Is it that oil prices are rising in your country while not rising worldwide, or are they rising in your country at the same time as they are rising internationally?
yes you should say in which country you live, and how the economic situation in your country is so that the price of oil is expensive. because many factors can affect it all. inflation and deflation against the dollar can also affect, in addition to excessive import needs can also affect.

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September 08, 2018, 01:17:58 AM
 #7

In our country (PH), oil price is so high for me as I am living in a minimum wage income and it seems like it is because of the tax law implemented wherein currently there's high inflation rate(I know it is normal) that means there's a domino effect on all commodities including oil.

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Robust Crypto
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September 08, 2018, 11:31:51 AM
 #8

Oil prices are going up and up in my country.

What is going on???

What's your country? It's almost impossible to speculate on why prices are rising without knowing where your'e talking about. Oil prices are subject to geopolitical considerations, but often times instability in a local market could cause oil prices to rise regionally where the larger market is unaffected. Is it that oil prices are rising in your country while not rising worldwide, or are they rising in your country at the same time as they are rising internationally?
yes you should say in which country you live, and how the economic situation in your country is so that the price of oil is expensive. because many factors can affect it all. inflation and deflation against the dollar can also affect, in addition to excessive import needs can also affect.

Georgia. It took a hit after Lira got raped in the ass by Trump. But internationally oil prices are going down, but it's going up here. Went up from 2 to 2.60 in few weeks.
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September 08, 2018, 11:38:08 AM
 #9

Oil prices are going up and up in my country.

What is going on???

What's your country? It's almost impossible to speculate on why prices are rising without knowing where your'e talking about. Oil prices are subject to geopolitical considerations, but often times instability in a local market could cause oil prices to rise regionally where the larger market is unaffected. Is it that oil prices are rising in your country while not rising worldwide, or are they rising in your country at the same time as they are rising internationally?
yes you should say in which country you live, and how the economic situation in your country is so that the price of oil is expensive. because many factors can affect it all. inflation and deflation against the dollar can also affect, in addition to excessive import needs can also affect.

Georgia. It took a hit after Lira got raped in the ass by Trump. But internationally oil prices are going down, but it's going up here. Went up from 2 to 2.60 in few weeks.

If you are from Georgia,most of the oil import must be coming from Azerbaijan or atleast Russia.
I don't know anything about the political situation in that region.Probably the oil prices in the area are going up because of the civil war in Syria.There will be an attack over the city of Idlib and there will be  a new wave of refugees.

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September 08, 2018, 01:28:22 PM
 #10

Oil prices are going up and up in my country.

What is going on???

What's your country? It's almost impossible to speculate on why prices are rising without knowing where your'e talking about. Oil prices are subject to geopolitical considerations, but often times instability in a local market could cause oil prices to rise regionally where the larger market is unaffected. Is it that oil prices are rising in your country while not rising worldwide, or are they rising in your country at the same time as they are rising internationally?

Oil prices are going up everywhere, even in the US so it's not a problem of stability or anything else

Quote
The average price for a gallon of gasoline nationwide has increased 24% in a year. It is too early to know whether $3 a gallon gasoline will curtail the plans of some people to drive this summer.

It's just that oil prices are going up again, currently around ~70$ from almost 30$.


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September 08, 2018, 01:35:28 PM
 #11

Oil prices are going up and up in my country.

What is going on???
Which you are from? I think all the market value is depends on USD value so if you are value is decreased in the market automatically oil value will be increased.
The most of the products value also depends on oil prices so I expect in your country all the goods value will increase.

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September 08, 2018, 01:40:14 PM
 #12

OP,  It depends on which country you are from and it's kind of harder to judge without you specifying the country. You should also know that sometimes the causes of high Oil price may not be because of it scarcity but because some government of some countries may decide to higher it in order to gain from it (the greedy government)  or to cause lower dependency on it (the reasonable government) thus finding a substitute for it.
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September 08, 2018, 02:01:49 PM
 #13

Oil price getting high due to supply and demand. Even in my country oil increased because of the inflation rate, but that is not permanent it will decrease sooner or later.

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September 08, 2018, 02:32:58 PM
 #14

The world economy is unstable largely due to political factors that is affecting international trades. It is very difficult to suggest the exact cause of the rise in the price in any particular country when the particular country is not stated.
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September 08, 2018, 03:37:19 PM
 #15

Oil prices are going up and up in my country.

What is going on???

Probably has to do something with the state of your country, they just want more and more taxes on everything. if you look how much actual providers earn and what percentage goverment gets it will be clear to you that they are ripping us off.

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September 08, 2018, 03:50:50 PM
 #16

Oil prices are going up and up in my country.

What is going on???
Globally? Its politics. Oil rich nations such as Iran, Venezuela to some extend Russia has been bickering with the USA. Embargo after embargo against those nations put more pressure on oil resulting to the price going up not just in your country but globally as well. Demands are high, but supply are limited because of some geo-political from Middle-East to South America. And in connection to crypto, just look at how Venezuela reacted, establishing Petro coins, and Iran suddenly embracing crypto. Reports says that BTC is at its peak in Iran, 1 BTC = $24K.

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September 08, 2018, 04:18:20 PM
 #17

maybe this is related to Iran's sanctions, it is an oil rich country and if i am not mistaken pretty soon due to sanctions selling of oil would become near impossible.
if so, then it is a simple supply and demand reason with the supply being cut (or at least the fear of it) the price goes up. in fact this has been speculated before:
https://www.cnbc.com/2018/08/06/us-sanctions-on-iran-could-push-oil-prices-above-90-a-barrel-by-year-.html

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September 08, 2018, 06:16:07 PM
 #18

Oil prices are going up and up in my country.

What is going on???

Of course there are many factors that cause oil prices to rise and it all depends on the condition of your own country, the economic crisis is very influential with the weakness of your currency with the dollar at a very high cost. We need oil every month. of course the factor of the oil supplier country is very important by determining the current price, they can raise their prices because of the limited oil currently the weather factor is very influential with oil fertility on this earth.
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