Crude Oil

[farming101]

Has posted a 16 year low on the nearby chart. Do not think that this will result in cheaper and cheaper fuel. Could be quite the opposite after a while

[4GFarms]

Down $2/barrel. Bring on the cheap fuel!!!

[errolanderson]

Historic lows for Cdn Select this morning . . . .

Alberta heavy crude now down $2.44 to $12.23 per barrel. Bitumen discounts now actually widening an extra $1 to $15 per barrel under WTI oil.

This is hammering the loonie . . . below 70 cents today.

[farming101]

Tipping point today for the CAD.
.6981 held for all of a couple hours. Wow

[bucket]

Margins have to be pretty good for the refineries....because gas is still at 96.9 cents at local co-op sign...

FN crooks....

[farming101]

Expect refineries of fully integrated oil companies to began to increase their margins on refined products.
What this will mean for retail prices I am not sure. Will depend on demand for products

[Guest]

Margins have to be pretty good for the refineries....because gas is still at 96.9 cents at local co-op sign...

FN crooks....

Was $.78 in stoon yesterday

[farming101]

Rack price today at Saskatoon is .513/l for diesel and .371 for gasoline. We have hit rock bottom on gas or very near to it

[SASKFARMER]

Last time oil was down here I bought real soon . This time not sure.

[bucket]

Rack price today at Saskatoon is .513/l for diesel and .371 for gasoline. We have hit rock bottom on gas or very near to it

I am making the assumption thats the cost of refining ...any lower and they are actually losing money?

96.9 at the local co-op yesterday as I drove by...they are still cleaning out the rural people's wallets...

[farming101]

I am making the assumption thats the cost of refining ...any lower and they are actually losing money?

96.9 at the local co-op yesterday as I drove by...they are still cleaning out the rural people's wallets...

No that is the tax component of a liter of gas, or close to it.
The cost of existing stock is being passed on to the consumer where there is no competition. Which is most places in SK

[bucket]

No that is the tax component of a liter of gas, or close to it.
The cost of existing stock is being passed on to the consumer where there is no competition. Which is most places in SK

Fair enough but when they refill the tanks at the co-op in buttphuck saskatchewan where there is no competition ..those lower prices should last longer....

Federated is owned by members or so they say....there is no reason to be gouging...it doesnt cost 20 cents a litre to get fuel by a super B or king B to the local and they show up almost every day

[farming101]

Fair enough but when they refill the tanks at the co-op in buttphuck saskatchewan where there is no competition ..those lower prices should last longer....

Federated is owned by members or so they say....there is no reason to be gouging...it doesnt cost 20 cents a litre to get fuel by a super B or king B to the local and they show up almost every day

Federated is not strong throughout its whole business structure. Locals have put up new infrastructure of all kinds from here to next year. Without the refinery making money the system would look very different.
All the rural locals would go back to selling baler twine, fuel and 24D

[bucket]

Federated is not strong throughout its whole business structure. Locals have put up new infrastructure of all kinds from here to next year. Without the refinery making money the system would look very different.
All the rural locals would go back to selling baler twine, fuel and 24D

They do a shit job of that ....independants have moved in on them for the last decade and they let them have their customers....locally here is what I see.

The fuel they deliver....they go to Moose Jaw which is an hour of dead driving to refill their tridem fuel trucks...they used to do it locally but the local management bought into time, tires, trucks as opposed to a rebuild of a bulk plant they had....

[errolanderson]

Saudi's now instructing Aramco to boost production to unseen levels . . . . Saudi Arabia now plans to boost oil exports in May to a record 10 million barrels per day.

Apparently, for the Kingdom to achieve this level of exports, they are reducing domestic consumption. This is expected to be replaced by natural gas.

Energy Ministry statement: “Saudi Arabia will utilize the gas produced from the Fadhili gas plant to compensate for around 250,000 barrels a day of domestic oil consumption, which will enable the Kingdom to increase its crude exports during the coming few months to exceed 10 million barrels a day,”.