Crude oil price

Norfolkboy

Member
Arable Farmer
Any thoughts on if the price of fuel will stop climbing? Seriously regretting not locking in red diesel at 49p/l in early January for harvest requirements.
 

Frank-the-Wool

Member
Livestock Farmer
Location
East Sussex
Very unlikely it will rise much more as the pound is now very strong against the dollar.
Many economies are not in a good shape and it is still unlikely that large scale air travel will take off very quickly.
It will be tempting for many oil producing countries to turn the taps back on if it rises much more.
I have a neighbour who is an oil and energy specialist and he has been saying that it is unlikely it will stay above $60 for very long. It is $61 today and May Brent crude is forecast at $64.
Much of the spike has been caused by the extreme weather in America.

However it is looking possible that inflation may be starting to creep back in!
 

Bald Rick

Moderator
Livestock Farmer
Location
Anglesey
Any thoughts on if the price of fuel will stop climbing? Seriously regretting not locking in red diesel at 49p/l in early January for harvest requirements.

Posted a link to JP Morgan in fuel tracker who estimate that oil will be at $100/barrel in 2022. (Equates to roughly £1.43/litre for petrol at the pumps).

Of course the real point is, is food prices rise in tandem? At least then what we get with one hand can be given out with the other without chopping off a few fingers in to the bargain
 

SFI - What % were you taking out of production?

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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