As Bank Fears Spread, Oil Craters

[g5000]

Yes oil, but gas Obama holds the record for gas.

Well, you're wrong there, too.

U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)

Bush had the record until Biden.

Obama was not even in the running.

ODS.

 

[struth]

Yes oil, but gas Obama holds the record for gas.

nope that belongs to Joey Xiden

 

[jknowgood]

Well, you're wrong there, too.

U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)

Bush had the record until Biden.

Obama was not even in the running.

ODS.

Not what I saw, I thought Biden had the record also.

 

[jknowgood]

nope that belongs to Joey Xiden

I looked it up and what I read it said 2012 gas was the highest. I figured it was Biden also. Said gas hit $3.65 a gallon average in 2012.

 

[struth]

I looked it up and what I read it said 2012 gas was the highest. I figured it was Biden also. Said gas hit $3.65 a gallon average in 2012.

it’s been well over 4 dollars a gallon on average due to xiden’s policies

 

[CrusaderFrank]

Oil prices crater as inventories build, fears ripple through global markets

Oil prices have fallen sharply in recent days amid growing inventories and broad stresses following the failure of multiple U.S. banks.

finance.yahoo.com

As fears over the banking system weigh on markets worldwide, the price of oil has come under significant pressure in recent days with WTI crude oil, the U.S. benchmark, falling below $67 on Wednesday, its lowest price since November 2021.



In just 10 days, oil fell from $80.46 to $67. Today, WTI Crude is $66.59.

Since oil and gas are half the Russian economy, they need oil to remain above $60 to stay solvent.

Speaking of Russia, Putin is going begging to get someone to take his oil.

Russia’s Oil Trade Is Starting to Show Signs of Clogging Up

Across the world, there are increasing signs that the smooth flow of Russian petroleum is starting to get snarled.

www.bloomberg.com

Ships filled with refined fuels are floating off the coasts of Europe, Africa and Latin America, potentially ratcheting up waiting fees. Some vessels hauling the OPEC+ producer’s crude oil are bouncing between ports without discharging, while others are unloading and being stashed at unusual locations.

It all points to a network of logistics that is struggling to keep pace with servicing a country that exports over 7 million barrels a day of crude oil and products. A vast swath of that trade has shifted from Europe to new and less-familiar customers, often thousands of miles further away.

“There has already been a mismatch in what is leaving Russian ports and what is imported by buyers of Russian oil,” said Giovanni Staunovo, commodity analyst at UBS Group AG. “This is translating in higher volumes of oil on water, and considering a limited number of tankers available to transport oil, if those tankers are not unloaded, it will translate in lower exports and production at some point.”


Putin thought he had the world over an oil barrel. He made a catastrophic error in judgement.

Tank the US banking system - to get Putin. Brilliant! I see no flaws in this "plan"

 

[g5000]

I looked it up and what I read it said 2012 gas was the highest. I figured it was Biden also. Said gas hit $3.65 a gallon average in 2012.

$3.65 is nowhere near the record.

It hit $4.06 in 2008. Before Obama.

How do you not remember this? Are you really young or something?

The all-time record is now $4.92 in 2022.

 

[g5000]

Tank the US banking system - to get Putin.

Is this the latest right wing conspiracy theory? It's so hard to keep up.

 

[James California]

~ Will smaller independent banks soon be a thing of the past .. ?

 

[struth]

Oil prices crater as inventories build, fears ripple through global markets

Oil prices have fallen sharply in recent days amid growing inventories and broad stresses following the failure of multiple U.S. banks.

finance.yahoo.com

As fears over the banking system weigh on markets worldwide, the price of oil has come under significant pressure in recent days with WTI crude oil, the U.S. benchmark, falling below $67 on Wednesday, its lowest price since November 2021.



In just 10 days, oil fell from $80.46 to $67. Today, WTI Crude is $66.59.

Since oil and gas are half the Russian economy, they need oil to remain above $60 to stay solvent.

Speaking of Russia, Putin is going begging to get someone to take his oil.

Russia’s Oil Trade Is Starting to Show Signs of Clogging Up

Across the world, there are increasing signs that the smooth flow of Russian petroleum is starting to get snarled.

www.bloomberg.com

Ships filled with refined fuels are floating off the coasts of Europe, Africa and Latin America, potentially ratcheting up waiting fees. Some vessels hauling the OPEC+ producer’s crude oil are bouncing between ports without discharging, while others are unloading and being stashed at unusual locations.

It all points to a network of logistics that is struggling to keep pace with servicing a country that exports over 7 million barrels a day of crude oil and products. A vast swath of that trade has shifted from Europe to new and less-familiar customers, often thousands of miles further away.

“There has already been a mismatch in what is leaving Russian ports and what is imported by buyers of Russian oil,” said Giovanni Staunovo, commodity analyst at UBS Group AG. “This is translating in higher volumes of oil on water, and considering a limited number of tankers available to transport oil, if those tankers are not unloaded, it will translate in lower exports and production at some point.”


Putin thought he had the world over an oil barrel. He made a catastrophic error in judgement.

China set a new record for oil imports from Russia this month. Xiden has brought the two counties closer

 

[Dekster]

See?

The tards are this close to blaming the negroes! And TH3 GAYZ.

If the strap on fits----

 

[Dekster]

So then it don't bug you how the Flaming Liberal turned Leftist *City
has some kind of Bill that calls for blacks to Receive their Reparations
NOW.$ 5 Million per eligible Black { must be 18 or older }
The * City used to have a black population of 13 % but it now
stands at around 6 %.
This city bill also includes a Yearly salary.I think it's
in the $ 170,ooo yr. ballpark.

* San Fransico

I don't live in San Fransisco or the State of California, so more power to them.

 

[CrusaderFrank]

Is this the latest right wing conspiracy theory? It's so hard to keep up.

No, it's genius! No downside at all! Bail out every US bank - guaranteed!

 

[Dragonlady]

Stolen elections have consequences.

What are your plans for celebrating Trump's arrest? I've stocked up on popcorn, and martini fixins.

 

[g5000]

~ Will smaller independent banks soon be a thing of the past .. ?

I expect there will be mergers.

 

[g5000]

China set a new record for oil imports from Russia this month. Xiden has brought the two counties closer

Putin has had to offer steep discounts to entice his few remaining friends to buy from him.

 

[struth]

Putin has had to offer steep discounts to entice his few remaining friends to buy from him.

link

 

[g5000]

link

Hefty Chinese buying, alongside robust Indian demand, has been spurred by steep price discounts but is providing Moscow much-needed revenue after the Group of Seven imposed a $60 price cap on Russian crude.

China's March imports of Russian oil may hit record - shiptracking data

China's seaborne imports of Russian oil are set to hit a record this month after refiners took advantage of cheap prices as domestic fuel demand rebounded, but Russia's plan to cut exports will likely cap buying in coming months.

www.reuters.com

 

[whitehall]

"Craters"? What does that mean? Gas prices are still double what they were during the Trump administration.

 

[g5000]

"Craters"? What does that mean? Gas prices are still double what they were during the Trump administration.

Gas prices do not magically change at the same time as oil prices.

The gas prices you see reflect what oil prices were a few weeks ago.