My perception is that oil price is driven much more by supply than by demand. Demand is relatively inelastic (planes fly to a schedule, workers commute the same way every day, people don't check the petrol price before driving off on holiday, etc). So maybe it's better to watch OPEC and the rig count rather than planes and cars?
BPT Tea leaves analysis, page-242
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Last
$1.71 |
Change
-0.005(0.29%) |
Mkt cap ! $3.889B | |||
| Open | High | Low | Value | Volume |
| $1.74 | $1.74 | $1.70 | $2.470M | 1.444M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 29224 | $1.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.72 | 87191 | 50 |
View Market Depth
| Last trade - 12.13pm 22/05/2024 (20 minute delay) ? |
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Last
$1.70 |
Change
-0.005 ( 1.44 %) |
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| Open | High | Low | Volume | ||
| $1.74 | $1.74 | $1.70 | 580406 | ||
| Last updated 12.33pm 22/05/2024 ? | |||||
| BPT (ASX) Chart |