Oil prices surged to their highest level in over three years last week, and strategists were marveling that prices had shot up so quickly. Now prices are slumping.
US crude oil futures have dropped by nearly 10% to trade around $66.50 per barrel, down from about $73 last week. Global benchmark Brent crude oil has dropped by about 6% to trade around $76, after peaking above $80.
The sharp price decline was triggered on Friday by Saudi Arabia, the biggest oil exporter in the world and de facto leader of oil cartel OPEC. Saudi energy minister Khalid Al-Falih said during a CNN-hosted panel in St. Petersburg, Russia, that he was in intensive discussions with Russia and other OPEC nations to pump more oil to ease global supply concerns.
I thought people like cyclist wanted high gas prices?
Our resident bicycle Rider doesn't know what he wants. All he's concerned about this disruption. KGB standard operating procedure is to divide and conquer. He's good with that along with the other dynamic 5
We’re like the piggy bank that everybody is robbing, and that ends
He should move to Venezuela, he would be happy there.
What's with your obsession with Venezuela...
People who think like you were telling us that Hugo Chavez and his boys were going to set Venezuela on the path of socialist prosperity and we should follow.
He should move to Venezuela, he would be happy there.
What's with your obsession with Venezuela...
People who think like you were telling us that Hugo Chavez and his boys were going to set Venezuela on the path of socialist prosperity and we should follow.
He should move to Venezuela, he would be happy there.
What's with your obsession with Venezuela...
People who think like you were telling us that Hugo Chavez and his boys were going to set Venezuela on the path of socialist prosperity and we should follow.
Ok, so maybe reading comprehension is your major issue....
Venezuela's production is in the toilet. what they can produce is now bottled up by the Conoco seizures in the Caribbean so they are going to further decline. Expect further sanctions to further complicate their issues. the Permian basin here is looking at a 70% increase in output over the next 5 years. the problem is getting it to the gulf coast where the refineries are. we have more than enough supply but can't get the pipelines built to handle the new levels (discuss why!!)......... crude fell to mid 60's a barrel today. the gas prices are just supply & demand & "what the market will bear"............... but we can say it's because of the Iran thing to satisfy a political agenda...... but it's a bit bigger than that
I think this conversation happens almost every spring when prices jump up
Some tine around Labor Day or just before, you will likely see another spike in prices before they fall again. That will also depend on the Hurricane activity and what it does.
Some idiot nixes the iran deal and gas prices go up as predicted....
First off... nothing to do with Iran deal. Second, if you think that the Iran deal was a good one you’re a complete moron. Obama delivers cash to terrorists in the dead of night. Freakin genius there! Obama was such a tool. All he ever did was organize communities and race bait. Awesome to have a real patriot and non globslist for once! Winning.
Some idiot nixes the iran deal and gas prices go up as predicted....
First off... nothing to do with Iran deal. Second, if you think that the Iran deal was a good one you’re a complete moron. Obama delivers cash to terrorists in the dead of night. Freakin genius there! Obama was such a tool. All he ever did was organize communities and race bait. Awesome to have a real patriot and non globslist for once! Winning.
Can you dig deep and explain the deal to us? Whose money was it, where did it come from, etc.?
Got 14.4mpg average towing the boat back from Marathon Saturday. Could have made the trip on one tank but I stopped and got a little for this week so I'm good. When prices go up i just make less trips around town or home for lunch to check on the dog/etc.
Got 14.4mpg average towing the boat back from Marathon Saturday. Could have made the trip on one tank but I stopped and got a little for this week so I'm good. When prices go up i just make less trips around town or home for lunch to check on the dog/etc.
Got 14.4mpg average towing the boat back from Marathon Saturday. Could have made the trip on one tank but I stopped and got a little for this week so I'm good. When prices go up i just make less trips around town or home for lunch to check on the dog/etc.
I hope you had a nice time!
Thanks, we did the best we could considering the weather. And a host of other issues. The primer bulb went bad and it was constricting fuel flow under WOT, so the motor would bog down, i was panicking because I know what a lean running two stroke does. But I had fixed a couple of hoses prior to going to i was sure that was the issue. so i'm tightening them and checking them and removing the cowling a hundred times, and of course I snag a coil wire and snap it, so i had to wait on a new coil pack, costing me a day.
So we fished twice, and spent one day on the water at the sand bar fiddling around.
next time will be better, hopefully the next 50 weeks will go by quickly.
Man, that's a tough break. Better than a sharp stick to the eye though!
It was still good to see the daughter and take the future son in law out fishing, he'd never caught a trout. And his first one is a 24" gator! He didn't understand my enthusiasm for that fish until later. I told him he'll probably not catch a bigger one anytime soon if ever.
And even at the sandbar, we'd throw a butterflied pinfish out into the channel, and reel in a bonnethead every single time. We'll just have to hope next year the weather cooperates more. Drank copious amounts of Haitian rum, a bottle of El Dorado rum, and corona. There are worse ways to spend a week.
Man, that's a tough break. Better than a sharp stick to the eye though!
It was still good to see the daughter and take the future son in law out fishing, he'd never caught a trout. And his first one is a 24" gator! He didn't understand my enthusiasm for that fish until later. I told him he'll probably not catch a bigger one anytime soon if ever.
And even at the sandbar, we'd throw a butterflied pinfish out into the channel, and reel in a bonnethead every single time. We'll just have to hope next year the weather cooperates more. Drank copious amounts of Haitian rum, a bottle of El Dorado rum, and corona. There are worse ways to spend a week.
Family time! Nice to get along with the future son.
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Replies
Another truth. You're being played like a fiddle by your leaders and media sources. Enjoy!
Secondly, what is your news source, television? Do you subscribe to any newspapers? The internet?
My posts are my opinion only.
Be thankful we're not getting all the government we're paying for. Will Rogers
My posts are my opinion only.
Be thankful we're not getting all the government we're paying for. Will Rogers
I think this conversation happens almost every spring when prices jump up
Some tine around Labor Day or just before, you will likely see another spike in prices before they fall again. That will also depend on the Hurricane activity and what it does.
Former Mini Mart Magnate
I am just here for my amusement.
or is it
"Non winterized fuel also cost more to produce."
?????
So we fished twice, and spent one day on the water at the sand bar fiddling around.
next time will be better, hopefully the next 50 weeks will go by quickly.
And even at the sandbar, we'd throw a butterflied pinfish out into the channel, and reel in a bonnethead every single time. We'll just have to hope next year the weather cooperates more. Drank copious amounts of Haitian rum, a bottle of El Dorado rum, and corona. There are worse ways to spend a week.