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Started By
Message
Brent Crashes Below $60 as U.S.-China Tariff War Escalates
Posted on 4/9/25 at 8:45 am
Posted on 4/9/25 at 8:45 am
quote:
Oil prices plunged early on Wednesday as China retaliated to the U.S. tariff of 104% on Chinese goods, and Brent Crude sank to below $60 per barrel for the first time in four years.
As of 8:31 a.m. EDT, the front-month Brent Crude futures prices were plummeting by 5.25% at $59.46. The U.S. benchmark, WTI Crude, plunged by 5.59% to $56.09, close to the $55 per barrel mark. That level is already $10 a barrel below the average $65 per barrel price U.S. producers need to profitably drill a new well, as they indicated in the Dallas Fed Energy Survey for the first quarter.
Oil prices were on track on Wednesday to their biggest five-day slump of 15%-20% since July 2022.
quote:
China vowed to continue responding to Trump’s tariffs and said it’s prepared to go to a trade war.
“If the U.S. insists on escalating trade restrictions, China has both the determination and the means to respond forcefully - and will do so,” a spokesperson for the Chinese commerce ministry said in a statement carried by Reuters.
LINK
The truck nut plant in Bawcomeville is already seeing reduced orders. Even some cancelled ones.
This post was edited on 4/9/25 at 8:46 am
16
Posted on 4/9/25 at 8:53 am to ragincajun03
I cancelled my nuts! I will grow my own in the back yard
Posted on 4/9/25 at 8:56 am to ragincajun03
Good thing my wife recently sold mineral rights for a nice chunk of change.
Posted on 4/9/25 at 8:56 am to ragincajun03
China can't function economically without the U.S. buying their shite. Also...
Posted on 4/9/25 at 8:57 am to ragincajun03
At this rate it won't be long before crazy leftists start using premium unleaded to set Teslas on fire.
Posted on 4/9/25 at 8:58 am to ragincajun03
quote:
truck nut
Made in China
Posted on 4/9/25 at 9:09 am to Tigerdew
quote:
China can't function economically without the U.S. buying their shite. Also...
But the chinese also are used to living like cavemen. They might be able to live within their means longer than a US housewife can go without a new iphone.
Posted on 4/9/25 at 9:36 am to Turnblad85
quote:
They might be able to live within their means longer than a US housewife can go without a new iphone.
CELL PHONES!!!!!!!!!!!!!
Posted on 4/9/25 at 9:48 am to TexasTiger89
quote:
quote:
truck nut
Made in China
Posted on 4/9/25 at 9:50 am to ragincajun03
quote:
China vowed to continue responding to Trump’s tariffs and said it’s prepared to go to a trade war.
That’s laughable. China’s house of cards economy depends on Americans buying their cheap crap.
Posted on 4/9/25 at 9:50 am to ragincajun03
Time to fill up the strategic reserve again.
Posted on 4/9/25 at 9:55 am to ragincajun03
quote:
That level is already $10 a barrel below the average $65 per barrel price U.S. producers need to profitably drill a new well, as they indicated in the Dallas Fed Energy Survey for the first quarter.
Posted on 4/9/25 at 9:56 am to ragincajun03
If we are going to dance in a trade war with China - let’s dance- and break them to our benefit. They are US economy reliant and not friendly to our security interests. They lie, cheat, steal, spy, etc.
The people in this country griping about tariffs and a trade war with China are those folks dependent upon the relationship as currently structured to their benefit.
The people in this country griping about tariffs and a trade war with China are those folks dependent upon the relationship as currently structured to their benefit.
Posted on 4/9/25 at 9:58 am to weptiger
$70/bbl is the sweet spot for everyone in the US to be happy, both consumers and the industry.
Posted on 4/9/25 at 10:01 am to ragincajun03
We need to squeeze China. It's a culture of deception with no respect for intellectual property. Their economy is based largely on theft, exploitation of cheap labor, and American consumerism.
Squeeze them hard until they agree to playing fairly.
Squeeze them hard until they agree to playing fairly.
Posted on 4/9/25 at 10:01 am to Turnblad85
quote:
But the chinese also are used to living like cavemen. They might be able to live within their means longer than a US housewife can go without a new iphone.
Yep. The CCP is counting on this. They can hold out and supress any internal dissent.
Posted on 4/9/25 at 10:04 am to ragincajun03
Wouldn’t this have more to do with OPEC increasing output versus tariffs on plastic junk?
Posted on 4/9/25 at 10:05 am to facher08
quote:
They can hold out and supress any internal dissent.
Or shoot them, like they likely did the doctor who was on YouTube back in November 2019 trying to warn everyone of this virus that was spreading.
Posted on 4/9/25 at 10:05 am to facher08
quote:
Yep. The CCP is counting on this. They can hold out and supress any internal dissent.
Then their economy will be crushed and alternative sources for cheap shite will be found in the meantime.
It's in their best interest not only to come to the table and agree to fair trade terms with the US and to agree to stop stealing intellectual property. But they have to do it before their trade competitors do it.
This post was edited on 4/9/25 at 10:07 am
Posted on 4/9/25 at 10:06 am to El Segundo Guy
“Good thing my wife recently sold mineral rights for a nice chunk of change.”
She did not keep an over ride?
She did not keep an over ride?
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