Oil Down 14%. Intermediate Crude At $66.74 A Barrel. Let’s Hear Your Best Excuses Why Gas Is Still Over $3 A Gallon.

[skews13]

Oil futures tumbled with the most-active U.S. contract finishing at the lowest level in 15 months and booking its biggest weekly drop in nine months, according to Dow Jones Market Data.

The U.S. benchmark West Texas Intermediate crude for April delivery CL00 CL.1 CLJ23 fell $1.61, or 2.4%, to settle at $66.74 a barrel on the New York Mercantile Exchange, leaving the contract with a weekly loss of 13%, according to Dow Jones Market Data.

The contract declined by 14.2% in the past seven trading sessions, according to Dow Jones Market Data.

And no. Inflation or woke got nothing to do with it. So let’s hear those tall tales of fail.

 

[Jessica-stormlover]

The rich are so greedy and selfish that is why.

 

[Moonglow]

It is not over three where I live I paid $2.89 in Joplin.

 

[1srelluc]

It's just another of those "new normal" things you leftists said we should get used to.

 

[Moonglow]

It's just another of those "new normal" things you leftists say we should get used to.

Yeah, oil prices never changed in the past only when Biden was elected.

 

[Toddsterpatriot]

Oil futures tumbled with the most-active U.S. contract finishing at the lowest level in 15 months and booking its biggest weekly drop in nine months, according to Dow Jones Market Data.

The U.S. benchmark West Texas Intermediate crude for April delivery CL00 CL.1 CLJ23 fell $1.61, or 2.4%, to settle at $66.74 a barrel on the New York Mercantile Exchange, leaving the contract with a weekly loss of 13%, according to Dow Jones Market Data.

The contract declined by 14.2% in the past seven trading sessions, according to Dow Jones Market Data.

And no. Inflation or woke got nothing to do with it. So let’s hear those tall tales of fail.

What should the price be?
Why?

 

[MarathonMike]

Oil futures tumbled with the most-active U.S. contract finishing at the lowest level in 15 months and booking its biggest weekly drop in nine months, according to Dow Jones Market Data.

The U.S. benchmark West Texas Intermediate crude for April delivery CL00 CL.1 CLJ23 fell $1.61, or 2.4%, to settle at $66.74 a barrel on the New York Mercantile Exchange, leaving the contract with a weekly loss of 13%, according to Dow Jones Market Data.

The contract declined by 14.2% in the past seven trading sessions, according to Dow Jones Market Data.

And no. Inflation or woke got nothing to do with it. So let’s hear those tall tales of fail.

Oh I know! ORANGE MAN BAD!!!

 

[Augustine_]

Highest inflation in 40 years, highest corporate profits in 70 years. Must be unrelated.

 

[WinterBorn]

Prices are high because the people who set the prices want it that way. People get used to it and it happens again. Record profits make some people very happy.

 

[Augustine_]

Prices are high because the people who set the prices want it that way. People get used to it and it happens again. Record profits make some people very happy.

Although I will say that record profits are supposed to be a good thing, instead of being plunder

 

[Harry Dresden]

4.29 here in Vegas.....

 

[okfine]

It's just another of those "new normal" things you leftists said we should get used to.

So, who do you blame again?

 

[Harpy Eagle]

It's just another of those "new normal" things you leftists said we should get used to.

Yep, first time oil prices have dropped in the history of the world.

 

[Smokin' OP]

Oil Down 14%. Intermediate Crude At $66.74 A Barrel. Let’s Hear Your Best Excuses Why Gas Is Still Over $3 A Gallon.

Well, it COULDN'T be the oil companies.
They ALWAYS look out for the consumer.

Big Oil profits soared to nearly $200bn in 2022​

Offshore Technology
https://www.offshore-technology.com › features › big...

Feb 8, 2023 — The combined profits of some of the world's biggest oil companies – Chevron, ExxonMobil, BP, Shell and TotalEnergies – amounted to nearly $200bn ...

 

[Mr Natural]

Because they (the oil companies) can charge whatever they want for it.

 

[RetiredGySgt]

Crude oil has to be refined and the US doesnt have the capacity to refine enough add in the ignorant 15 grades of gas and you have a problem.