$10 a barrel

[jamesbrown]

So it should be 70-80p a litre at the pump.

We're being fleeced. Actually there's a better F-word.

Not sure what the lag is between the spot price today and the pump, but there will be one (although I get your point because it's less sticky on the way up ).

[AtW]

Not sure what the lag is between the spot price today and the pump, but there will be one (although I get your point because it's less sticky on the way up ).

The lag is different depending on a price change:

1. If price of oil increases then the lag is near 0.
2. If price of oil decreases then the lag is until the next big increase.

HTH

[AtW]

Below $3 per barrel.

Barrel not included!

[BlasterBates]

June contracts still at 22$. This means you make an instant 20$ profit on every barrel.

Not many traders have any storage to take advantage.

This means it's an anomaly due to lack of storage, you won't be seeing much change in pump prices.

[AtW]

There is bound to be loads of unsold oil bought at higher prices, no way they'll be selling it at current low prices.

[Batcher]

Imagine how skint Scotland would be right now if it had voted for Independence

Yeah, funnily the only oil producing nation that doesn’t have anything to show for it except foodbanks.

We’ll be ok with our other natural resources when we are independent.

[DimPrawn]

Below $3 per barrel.

You was ripped off!

Now less than $2 a barrel for front month contract! Down about 91%

Oil - BNN Bloomberg

[BlasterBates]

A good time to invest in oil shipping companies who will be able to charge simply by sitting in a dock with a tank full of oil.

[AtW]

This would have never happened under Labour.

[BlasterBates]

Oil hit $0.01 at its low.