Price of oil

[BlerkOne]

Looks like light sweet crude on Nymex may have hit the threshold.

 

Per the ticket contract

(d) Cruise Fare does not include fuel supplement charges, security surcharges, or similar incidental surcharges (“surcharges”); subject to applicable laws, Carnival reserves the right to impose or pass any of these surcharges and no right of cancellation shall be implied. “Fuel supplement” shall mean any additional charge to defray a portion of Carnival’s fuel costs. The amount of fuel supplements and government fees and taxes collected are subject to change. Carnival reserves the right to charge a fuel supplement of up to $9.00 USD, or its equivalent in foreign currency, per person per day, without prior notice, in the event that the price of light sweet crude oil according to the NYMEX (New York Mercantile Exchange Index) is greater than $70.00 USD per barrel of oil. Carnival may collect any fuel supplement in effect at the time of sailing, even if the cruise fare has been paid in full.

 

I doubt Carnival will do anything unless it really skyrockets.

 

Discuss amongst yourselves.

[ColeThornton]

Nothing to discuss.  It's not an unusual occurrence and like you said Carnival will do nothing at this point.

 

Slow day?  😉

[Joe817]

uggghhh. I really didn't want to hear that. That would be an extra $126.00 added to the cost of our cruise. I wonder if OBC can cover that? 

[BrotherCraig]

It's always the consumer that will have to eat the cost.  We will be hitting $100 oil soon. We will have to see what happens with the Iran elections and what OPEC's next move will be as supply is dwindling and demand is high again. It's going to get more turbulent in the coming months and prices, along with inflation, is going to wreck havoc on a lot of people's finances (they are already) and even worse for businesses unless they send that cost down to the customer.

[firefly333]

12 minutes ago, Joe817 said:

uggghhh. I really didn't want to hear that. That would be an extra $126.00 added to the cost of our cruise. I wonder if OBC can cover that? 

No, its added to cruisefare. 

 

Btw back last maybe was in march when a oil field was attacked in Saudi Arabia and oil was over 71 a barrel .. now it's over 71 a barrel. Only difference is that time was a weekend. People acting like its hitting  high are saying within regular trading hours. 

 

I was cruising when they were adding subsidies to cruisefare, and it didnt really kick in until oil hit over 100 a barrel, which it could this year, but if anyone knew they would be 100% in oil.

 

When they were adding subsidies before oil hit 150 a barrel before it dropped. More than double where it is now. .. ok oil actually just touched 72, which is a yearly high if we close here. 

 

I know I posted way back when I sold my ccl losing position that I held my oil stocks. They were still paying dividends and would recover profitability sooner than ccl. Every loss on one thing is a gain to be made elsewhere. Still holding oil. That's why I watch it daily. It is forecast to go higher, maybe 80 by the end of summer. Not time to panic.

 

If you listened to the presidents words you knew oil had to go higher if he wanted to produce less. Common sense. Just make money off it, dont get upset.

Edited June 15, 2021 by firefly333

[BrotherCraig]

2 minutes ago, firefly333 said:

No, its added to cruisefare. 

 

Btw back last maybe was in march when a oil field was attacked in Saudi Arabia and oil was over 71 a barrel .. now it's over 71 a barrel. Only difference is that time was a weekend. People acting like its hitting  high mean within regular trading hours. 

 

I was cruising when they were adding subsidies to cruisefare, and it didnt really kick in until oil hit over 100 a barrel, which it could this year, but barely.

 

When they were adding subsidies before oil hit 150 a barrel before it dropped. More than double where it is now. .. ok oil actually just touched 72, which is a yearly high if we close here. 

 

I know I posted way back when I sold my ccl losing position that I held my oil stocks. They were still paying dividends and would recover profitability sooner than ccl. Every loss on one thing is a gain to be made elsewhere. Still holding oil. That's why I watch it daily. It is forecast to go higher, maybe 80 by the end of summer. Not time to panic.

 

 

Yep.

 

I invested in PSX (@$44) and FANG (@$25) and so glad I did.  I bought CCL low and sold it when it hit $18 because I knew the energy stocks would perform better and the dividends are nice.  PSX is now at $92 and FANG is $90.  

 

People are driving again.  Actually, traffic is worse in Texas than I ever seen it before.  People are traveling to tourist spots more than I have ever seen before.  Hotels are booked up.  RV rentals are hard to get along with campgrounds.  Airports are packed again.  Just imagine what this economy would be like if the virus never happened.  Glad to see we are picking up steam again and hope we never return to a year like 2020 again.

[firefly333]

1 minute ago, BrotherCraig said:

 

 

Yep.

 

I invested in PSX (@$44) and FANG (@$25) and so glad I did.  I bought CCL low and sold it when it hit $18 because I knew the energy stocks would perform better and the dividends are nice.  PSX is now at $92 and FANG is $90.  

 

People are driving again.  Actually, traffic is worse in Texas than I ever seen it before.  People are traveling to tourist spots more than I have ever seen before.  Hotels are booked up.  RV rentals are hard to get along with campgrounds.  Airports are packed again.  Just imagine what this economy would be like if the virus never happened.  Glad to see we are picking up steam again and hope we never return to a year like 2020 again.

I dont think rush hour here is back, but its picked up. It was terrible before where I am. 

 

I was hearing about why the price of milk is going up, cost of getting milk to market. Plastic up made of oil, and gas to truck it to market. And oil and gas up. So milk prices are moooov-ing up. Becomes a cycle. Corn prices are up, more, and corn is up to 20% of gas. And so the cycle goes. 

[BrotherCraig]

9 minutes ago, firefly333 said:

I dont think rush hour here is back, but its picked up. It was terrible before where I am. 

 

I was hearing about why the price of milk is going up, cost of getting milk to market. Plastic up made of oil, and gas to truck it to market. And oil and gas up. So milk prices are moooov-ing up. Becomes a cycle. Corn prices are up, more, and corn is up to 20% of gas. And so the cycle goes. 

 

 

Yep.  I am in Houston so it has always been bad and Houston really never closed when it came to commuting.  We have been in the office the entire pandemic and we have 2400 people here in the building.  Some got to work from home for the first few weeks of this mess though.  Everything is packed here again like it was pre-Covid.  

[sanmarcosman]

Another reason to book the Mardi Gras with her LNG 😉 

[BlerkOne]

2 hours ago, firefly333 said:

 

 

If you listened to the presidents words you knew oil had to go higher if he wanted to produce less. Common sense. Just make money off it, dont get upset.

As if the President has anything to do with the price of oil. Demand is rising - we are driving more plus it is the summer vacation season. Common sense is if the price of oil goes up, production also goes up. There is no shortage. The price has been too low for too long.

 

Also management changes in the Middle East, and tension was already increasing. But don't worry - if prices keep going up, I'll produce more. Also good news is lumber prices are declining.

[BlerkOne]

32 minutes ago, sanmarcosman said:

Another reason to book the Mardi Gras with her LNG 😉 

and a good reason to question an oil surcharge if they try to stick you with one.

 

{but natural gas prices are up, too}

Edited June 15, 2021 by BlerkOne

[Earthworm Jim]

49 minutes ago, sanmarcosman said:

Another reason to book the Mardi Gras with her LNG 😉 

 

Which brings up the question, do Mardi Gras bookings have the same ticket contract language about the price of oil being over $70 can result in a surcharge, or do they have a different contract language quoting a LNG price?

[BlerkOne]

17 minutes ago, Earthworm Jim said:

 

Which brings up the question, do Mardi Gras bookings have the same ticket contract language about the price of oil being over $70 can result in a surcharge, or do they have a different contract language quoting a LNG price?

One size fits all. i imagine they will add a LNG clause eventually.

[sanmarcosman]

34 minutes ago, Earthworm Jim said:

 

Which brings up the question, do Mardi Gras bookings have the same ticket contract language about the price of oil being over $70 can result in a surcharge, or do they have a different contract language quoting a LNG price?

No, not as yet. Speaking of burning up wait until the smokers hear there will be no smoking anywhere on Mardi Gras indoor or out until after the 7 hour LNG refueling process is complete. The "smoking lamp" won't go on until sail away. 

[Aplmac]

49 minutes ago, sanmarcosman said:

Speaking of burning up wait until the smokers hear 

there will be No Smoking anywhere on Mardi Gras

indoor or out

until after the 7 hour LNG refueling process is complete.

The "smoking lamp" won't go on until sail away. 

 

I foresee 'suffering'.

I hope they bring some nicotine patches with them to ease the cravings.

[Joe817]

1 hour ago, Aplmac said:

 

I foresee 'suffering'.

I hope they bring some nicotine patches with them to ease the cravings.

Nah. Just take up dipping Copenhagen. 😁

[IntrepidFromDC]

2 hours ago, sanmarcosman said:

... wait until the smokers hear there will be no smoking anywhere on Mardi Gras indoor or out until after the 7 hour LNG refueling process is complete. The "smoking lamp" won't go on until sail away. 

 

2 hours ago, Aplmac said:

I foresee 'suffering'.

I hope they bring some nicotine patches with them to ease the cravings.

Maybe it'll be the motivation some of them need to ask themselves "Why do I keep doing this to myself?", thinking of the unpleasant craving feeling, all the things they could do with the money if they stopped smoking and the likelihood of an earlier diminished life followed by earlier death...

[chengkp75]

11 hours ago, BlerkOne said:

and a good reason to question an oil surcharge if they try to stick you with one.

 

{but natural gas prices are up, too}

While bunker prices have been steadily rising since March 2020, neither IF380 (residual fuel) nor MGO (diesel fuel) have reached their peak levels from 2018 and 2019 yet.  On the other hand, LNG prices have risen sharply (50% since November), and the equivalency pricing (price for the same energy amount, not mass or volume, the only way to compare LNG to liquid fuel) has closed significantly between the two fuel types.  This data is for Europe, since the US LNG bunker market is almost non-existent, so it will be skewed slightly towards LNG in the US due to lower LNG prices, but the trend will be similar.  So, LNG fueled ships are not as great a bargain, at this moment, as you might think.

 

There is also a much slower, and more gradual trend in bunker prices than in crude oil prices, especially when compared to US gasoline prices v crude price.

[CroozFanatic]

Unlikely at these prices...at this time, but more likely if the price moves up further and cruising resumes. They know they will piss off the customers if they trigger the clause.

[ontheweb]

48 minutes ago, CroozFanatic said:

Unlikely at these prices...at this time, but more likely if the price moves up further and cruising resumes. They know they will piss off the customers if they trigger the clause.

That was their past experience when they tried to implement the fuel surcharge.

[mpdog42]

15 hours ago, firefly333 said:

No, its added to cruisefare. 

 

Btw back last maybe was in march when a oil field was attacked in Saudi Arabia and oil was over 71 a barrel .. now it's over 71 a barrel. Only difference is that time was a weekend. People acting like its hitting  high are saying within regular trading hours. 

 

I was cruising when they were adding subsidies to cruisefare, and it didnt really kick in until oil hit over 100 a barrel, which it could this year, but if anyone knew they would be 100% in oil.

 

When they were adding subsidies before oil hit 150 a barrel before it dropped. More than double where it is now. .. ok oil actually just touched 72, which is a yearly high if we close here. 

 

I know I posted way back when I sold my ccl losing position that I held my oil stocks. They were still paying dividends and would recover profitability sooner than ccl. Every loss on one thing is a gain to be made elsewhere. Still holding oil. That's why I watch it daily. It is forecast to go higher, maybe 80 by the end of summer. Not time to panic.

 

If you listened to the presidents words you knew oil had to go higher if he wanted to produce less. Common sense. Just make money off it, dont get upset.

"Just make money off it ,dont get upset"....Yeah that's the attutude we should have🙄

[firefly333]

21 minutes ago, mpdog42 said:

"Just make money off it ,dont get upset"....Yeah that's the attutude we should have🙄

So complaining works? What would you suggest?

 

More of a reason not to own ccl if the price will impact their bottom line. Doesnt do any good to put your head in the sand and pretend oil prices arent strengthening. I'm for energy independence but that's not the direction of this administration.  Analysts predict $80 summer oil. Being educated is never a bad idea, even if I dont like the information or inflation. When the administration changed it's always a good idea to review your holdings and be smart. 

[CroozFanatic]

1 hour ago, ontheweb said:

That was their past experience when they tried to implement the fuel surcharge.

 

Nobody will want to go first - RCCL, NCL, CCL. Same with gratuities. Once one does, they all do. I'm sure it won't be coordinated tho...that would be illegal. (sarcasm)