Oil drops 13% in worst day of 2021, breaks below $70

[Otis Mayfield]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel, falling below the key $70 level. It was the contract’s worst day since April 2020. WTI also closed below its 200-day moving average — a key technical indicator — for the first time since November 2020.

International benchmark Brent crude futures slid 11.55% to settle at $72.72 per barrel.

Both contracts registered their fifth straight week of losses for the longest weekly losing streak since March 2020.

Oil drops 13% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

www.cnbc.com

Well, you all wanted lower oil prices.

Think oil will continue to drop?

 

[Votto]

Oil prices fall with rising gas prices

Only in Bidenomics.

 

[JGalt]

China is controlling the world's economies with their little Flu bug.

The devious bastards must be pretty damned proud of themselves.

 

[White 6]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel, falling below the key $70 level. It was the contract’s worst day since April 2020. WTI also closed below its 200-day moving average — a key technical indicator — for the first time since November 2020.

International benchmark Brent crude futures slid 11.55% to settle at $72.72 per barrel.

Both contracts registered their fifth straight week of losses for the longest weekly losing streak since March 2020.

Oil drops 13% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

www.cnbc.com

Well, you all wanted lower oil prices.

Think oil will continue to drop?

I hope so, but winter in the norther hemiphere is just starting, plus I figure world production economies are still plodding toward covid recovery, unsteadily.

 

[pknopp]

This uncertainty in the markets is horrible for the economy. It's even better for the economy for oil to be at something like $78 and simply stay there than this up and down and there is no reason for it.

 

[CrusaderFrank]

Less oil mean less global warming, right?

 

[Votto]

Less oil mean less global warming, right?

Yes, but it will never be enough. We need more taxation and less fossil fuels

It never ends really.

 

[surada]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel, falling below the key $70 level. It was the contract’s worst day since April 2020. WTI also closed below its 200-day moving average — a key technical indicator — for the first time since November 2020.

International benchmark Brent crude futures slid 11.55% to settle at $72.72 per barrel.

Both contracts registered their fifth straight week of losses for the longest weekly losing streak since March 2020.

Oil drops 13% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

www.cnbc.com

Well, you all wanted lower oil prices.

Think oil will continue to drop?

Brent and Texas sweet have always been a dollar or 2 higher than OPEC..

 

[Turtlesoup]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel, falling below the key $70 level. It was the contract’s worst day since April 2020. WTI also closed below its 200-day moving average — a key technical indicator — for the first time since November 2020.

International benchmark Brent crude futures slid 11.55% to settle at $72.72 per barrel.

Both contracts registered their fifth straight week of losses for the longest weekly losing streak since March 2020.

Oil drops 13% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

www.cnbc.com

Well, you all wanted lower oil prices.

Think oil will continue to drop?

They see a recession coming-----less working will need less oil.

 

[lennypartiv]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel,

Biden can't even keep the price of oil at a stable level.

 

[Hellbilly]

Biden can't even keep the price of oil at a stable level.

Presidents don't control oil prices.

 

[Meister]

Presidents don't control oil prices.

Is 'manipulate" a better term to use?

 

[JGalt]

Presidents don't control oil prices.

Whether they do or don't is irrelevant, because they sure as hell get get blamed for them. As well high gasoline, heating oil, and propane prices, high inflation, illegals swarming through open borders, increasing crime, increased drugs on the street, failed public health policies, disastrous withdrawals from wars, weakening the military, and allowing their enemies to run rampant.

Joe Biden can't control any of those things. Hell, he can't even control his own bowels in public.

 

[White 6]

Whether they do or don't is irrelevant, because they sure as hell get get blamed for them. As well high gasoline, heating oil, and propane prices, high inflation, illegals swarming through open borders, increasing crime, increased drugs on the street, failed public health policies, disastrous withdrawals from wars, weakening the military, and allowing their enemies to run rampant.

Joe Biden can't control any of those things. Hell, he can't even control his own bowels in public.

Not irrelevant if you ascribe to reality, instead of just partisan BS. You let the idiots off too easy.

 

[JGalt]

Not irrelevant if you ascribe to reality, instead of just partisan BS. You let the idiots off too easy.

The reality is that if you're still defending that piece of shit, you're far more partisan than I am.

 

[jbrownson0831]

U.S. oil settled 13.06%, or $10.24, lower at $68.15 per barrel, falling below the key $70 level. It was the contract’s worst day since April 2020. WTI also closed below its 200-day moving average — a key technical indicator — for the first time since November 2020.

International benchmark Brent crude futures slid 11.55% to settle at $72.72 per barrel.

Both contracts registered their fifth straight week of losses for the longest weekly losing streak since March 2020.

Oil drops 13% in worst day of 2021, breaks below $70 as new Covid variant sparks global demand concerns

Oil prices came under pressure on Friday amid demand concerns after the WHO warned of a new Covid variant.

www.cnbc.com

Well, you all wanted lower oil prices.

Think oil will continue to drop?

Wow thats almost as much as Poopeyman has brought down the stock market lately.

 

[Hellbilly]

They see a recession coming-----less working will need less oil.

If that happens what do you think will happen to gas prices?

 

[White 6]

The reality is that if you're still defending that piece of shit, you're far more partisan than I am.

Dang, Galt. Nab him for the stuff he actually does screw up. Leave the crap, that by reality he can't effect alone. And if he does or says something right or beneficial comment on it, even if it one of my favorite ones I used for dumbass trump, "even a blind pig finds an acorn now and then". If you aren't up to that (which isn't defending anybody), you are the walking, typing definition of partisan. That's OK to, if that's what you want to be, but don't expect normal people to ascribe to your non-reality world.