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Message
re: Crude oil up nearly 6%
Posted on 6/12/25 at 10:37 pm to AndyCBR
Posted on 6/12/25 at 10:37 pm to AndyCBR
quote:
So energy costs have no affect on the end user costs of consumer products?
Man, I literally have acknowledged in every post that I understand that it has impact on input costs for everything, but I do think that relative to the inflation of everything else, over the same time period, and on average (because it's a semi-volitile commodity), that it's remained relatively cheap related to other goods.
If your state government bends you over on it than you voted for that. Gas is as cheap today, relative to inflation, as it was 32 years ago when I started buying it.
This post was edited on 6/12/25 at 10:39 pm
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Posted on 6/12/25 at 10:37 pm to fightin tigers
quote:There really isn't until late 3Q25 at the earliest. Crude burn increases so dramatically in MENA in summer that inventories will hold very manageable levels until then.
but there is already a crude glut
Posted on 6/12/25 at 10:37 pm to kciDAtaE
If oil prices become higher China will slow it's buying....less demand.
Marginally higher prices bring back in oil fields that have been recently closed.
$70/bbl crude is a lot different than $60/bbls crude on the production side.
Doesnt mean much at the pump.
Marginally higher prices bring back in oil fields that have been recently closed.
$70/bbl crude is a lot different than $60/bbls crude on the production side.
Doesnt mean much at the pump.
This post was edited on 6/12/25 at 10:39 pm
Posted on 6/12/25 at 10:40 pm to Louie T
quote:
There really isn't until late 3Q25 at the earliest. Crude burn increases so dramatically in MENA in summer that inventories will hold very manageable levels until then.
It is already there. The market is stalling and despite all the things that should drive up price nothing is moving the needle for more than a few days.
Id be surprised if this Israel news sticks around until Thursday.
Posted on 6/12/25 at 10:42 pm to fightin tigers
quote:Eh. L48 has dropped 50 rigs in 8 weeks and they aren't coming back en masse due to Iran turmoil. Some of the smarter producers are hedging some future prod with WTI in the mid $60s, but US prod is coming off regardless of Middle East conflict.
Marginally higher prices bring back in oil fields that have been recently closed.
$70/bbl crude is a lot different than $60/bbls crude on the production side.
Posted on 6/12/25 at 10:47 pm to Louie T
Once it is down then they are going to be hard to restart at the price.
We maybe see 80-85 then hold. 100 seems a ways off.
We maybe see 80-85 then hold. 100 seems a ways off.
Posted on 6/12/25 at 10:50 pm to fightin tigers
quote:"Stalling" at healthy global levels all things considered. Idk that stalling is the word I'd use.
It is already there. The market is stalling and despite all the things that should drive up price nothing is moving the needle for more than a few days.
quote:Well yeah because Iran barrels make it to market regardless of what fake sanctions the US puts on them. The only impact to market is total shipping costs go up because people have to go around the Cape of Good Hope if the Strait of Hormuz traffic dies.
Id be surprised if this Israel news sticks around until Thursday.
Posted on 6/12/25 at 10:52 pm to fightin tigers
quote:Sorta conflicts with "Marginally higher prices bring back in oil fields that have been recently closed."
Once it is down then they are going to be hard to restart at the price.
Posted on 6/12/25 at 10:52 pm to Louie T
Houthis killed most of that.
Whatever the Iranian/Russian movements were this week we now know why.
There will be some lag, I just dont see a huge gap yet.
Whatever the Iranian/Russian movements were this week we now know why.
There will be some lag, I just dont see a huge gap yet.
Posted on 6/12/25 at 10:53 pm to fightin tigers
quote:
quote: China and Russia are crying right now Why
It’s where both have been getting their cheap oil and gas from. This now means they will be forced to pay top dollar to another provider now that this is off line.
Posted on 6/12/25 at 10:54 pm to Louie T
quote:
Sorta conflicts with "Marginally higher prices bring back in oil fields that have been recently closed."
Not really. They won't sit on the sidelines if the futures are showing a better value.
They dont need $120 to restart, just need a better longterm.
Posted on 6/12/25 at 10:55 pm to fightin tigers
Posted on 6/12/25 at 10:57 pm to MrLSU
quote:
It’s where both have been getting their cheap oil and gas from. This now means they will be forced to pay top dollar to another provider now that this is off line
It is less than 100Kbd, they ain't providing shite outside of their shadow.
Posted on 6/12/25 at 11:17 pm to TigersHuskers
Apparently Birmingham area gas stations were informed this was coming because they raised prices back up into the $2.70’s a couple of days ago.
Posted on 6/13/25 at 6:47 am to TigersHuskers
quote:
Get a hurricane into the gulf and we will see 4+ a gallon this summer.
If you jinx me and I have to shut this place down just to start it back up 3 days later, we will be at Sonic.
Posted on 6/13/25 at 7:03 am to AndyCBR
quote:
Where do you think the increased inflation we experienced during the Biden administration came from? Sound energy policy?
Energy was a drag on inflation for the vast majority of biden’s term.
We produced more oil than ever during Biden’s presidency. You knew that, right?
Posted on 6/13/25 at 7:31 am to fallguy_1978
quote:
Gas is probably about flat with inflation for the past 30 years imo, if not lower.
Pizza too
Go figure…
Posted on 6/13/25 at 7:36 am to TigersHuskers
Posted on 6/13/25 at 7:37 am to TigersHuskers
That you Rachel ?
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Posted on 6/13/25 at 7:45 am to TigersHuskers
quote:
Crude oil up nearly 6%
I know. Looked at the premarket price of my offshore driller stock and it’s finally swinging upward after a winter and spring that did it no favors.
Awesome isn’t it?
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