re: $77/barrel - “something big is happening”

Now check the Brent+Index and see what that is trading at.

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I’m perfectly good with WTI staying at $77/bbl for the next couple of years. Can we lock that in?

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Me too! Our projections at big blue are set at $67 or $68 a BBL. My bonus will like where the market is.

The truck won’t though.

I was basing that on my experience working at a little rural grocery store/convenience store in the 80’s. I guess higher volume stations don’t do that. I will gladly admit that I’m wrong when I am.

Maritime insurers are now seeing oil tankers getting u.s. navy escorts through the Strait of Hormuz. That's likely the major factor driving price back down.

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Finance bros collecting their bag.

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got some in the stock market, too

Of course, that is built on screwing individual investors.

Then why did it go up 60 cents a gallon on fuel they already had in their tanks?

FWIW gas in upstate South Carolina dropped from $3.15 to $2.99 this afternoon.

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Define baseline profit for us so we can know what "extra" is. Since this is impossible, just assume none of us regular people can know.

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you know exactly what the frick i'm talking about, why are you playing dumb?

they immediately jack the prices up on gas they already have in their tanks based on what future gas will cost if cost per barrel goes up. when the cost per barrel goes down, the price gradually creeps back down.

if you dont like the phrase extra profit, fine, call it whatever you want.

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Its way more complicated than that. Lets say the barrel price shoots up to $110, and it looks like its going to go even higher. The retailer might call and lock in their next load at $110 assuming it could go way higher. But then the price drops to $80. They still have to pay for their $110 load.

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So in other words they go out Duked like in Trading Places.

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by High C

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Let's all take a moment and appreciate how dumb this dipshit is.