techno-ag said:

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BigRobSA said:

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docb said:

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Diesel back up. $5.29 at QT mart. Is the end in sight or are we going to keep seeing record fuel prices?

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$4.199 by me, up from $3.399 at most places, over the span of hours.

All the bloviating about "understanding geopolitics" means absolutely dick to the vast majority of people. Their wallet is easily visible and having less money to do things with is very in-your-face, daily.

If this doesn't change, regardless of the ramblings of poli-nerds on a college website, it could lead to a shift in peoples' votes. And not in a good way.

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If things get more expensive they might actually vote for the socialists this time, and higher tax increases.

Rest easy everybody. After Memorial Day prices should ease up a little.

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I hope so, but this was supposed to be "2 weeks"....







....sound familiar?

BigRobSA said:

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techno-ag said:

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BigRobSA said:

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docb said:

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Diesel back up. $5.29 at QT mart. Is the end in sight or are we going to keep seeing record fuel prices?

---

$4.199 by me, up from $3.399 at most places, over the span of hours.

All the bloviating about "understanding geopolitics" means absolutely dick to the vast majority of people. Their wallet is easily visible and having less money to do things with is very in-your-face, daily.

If this doesn't change, regardless of the ramblings of poli-nerds on a college website, it could lead to a shift in peoples' votes. And not in a good way.

---

If things get more expensive they might actually vote for the socialists this time, and higher tax increases.

Rest easy everybody. After Memorial Day prices should ease up a little.

---

I hope so, but this was supposed to be "2 weeks"....







....sound familiar?

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Yeah but when do you start the clock. Prices are now back up to about where they were under Biden. You said yourself they jumped this week. Start from Sunday and go two weeks? The start of Trump's second term?

There's some fluctuation. But at least Iran won't get the nuke. It's worth it.

techno-ag said:

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BigRobSA said:

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techno-ag said:

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BigRobSA said:

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docb said:

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Diesel back up. $5.29 at QT mart. Is the end in sight or are we going to keep seeing record fuel prices?

---

$4.199 by me, up from $3.399 at most places, over the span of hours.

All the bloviating about "understanding geopolitics" means absolutely dick to the vast majority of people. Their wallet is easily visible and having less money to do things with is very in-your-face, daily.

If this doesn't change, regardless of the ramblings of poli-nerds on a college website, it could lead to a shift in peoples' votes. And not in a good way.

---

If things get more expensive they might actually vote for the socialists this time, and higher tax increases.

Rest easy everybody. After Memorial Day prices should ease up a little.

---

I hope so, but this was supposed to be "2 weeks"....







....sound familiar?

---

Yeah but when do you start the clock. Prices are now back up to about where they were under Biden. You said yourself they jumped this week. Start from Sunday and go two weeks? The start of Trump's second term?

There's some fluctuation. But at least Iran won't get the nuke. It's worth it.

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Start from when we attacked. Not that difficult.


I support even nuking Iran. F those morons. But this is an economic issue that affects everyone and everything. Not just their gas tanks.

Jet fuel is a huge concern. Just read that, so far, two-million airline seats have been cancelled for May. Even if Trump's boondoggle in Iran ended today and oil started moving through the Straits of Hormuz, the ripples throughout the travel industry at least through the end of the summer would be massive. Hope y'all weren't planning on going anywhere overseas this summer.

More good news on this front:

https://justthenews.com/politics-policy/energy/us-canada-pipeline-reviving-keystone-xl-secures-nearly-all-commitments

Do you think that the oil in the Keystone is going to stay in the US?
I suspect a fair amount of it will be shipped to the higher bidders located in Asia

tysker said:

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Do you think that the oil in the Keystone is going to stay in the US?
I suspect a fair amount of it will be shipped to the higher bidders located in Asia

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Well considering it has to still be completed then I don't think your hypotheticals are relevant.

However, investment and commitments for these to be delivered things is good news and usually still impacts current prices given overall optimism.

flown-the-coop said:

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tysker said:

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Do you think that the oil in the Keystone is going to stay in the US?
I suspect a fair amount of it will be shipped to the higher bidders located in Asia

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Well considering it has to still be completed then I don't think your hypotheticals are relevant.

However, investment and commitments for these to be delivered things is good news and usually still impacts current prices given overall optimism.

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"current prices"?
Based on what, unicorn farts?

Since when does good news about the fairly distant future have a positive effect on current commodity prices?

EFR said:

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Since when does good news about the fairly distant future have a positive effect on current commodity prices?

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Spot prices of commodities that can be stored are most certainly impacted by future conditions. Believe it's probably been discussed in this thread.

Companies making commitments now for the Keystone XL is positive news. General positivity will at the least calm the markets and less volatility now will likely lower spot price.

flown-the-coop said:

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EFR said:

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Since when does good news about the fairly distant future have a positive effect on current commodity prices?

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Spot prices of commodities that can be stored are most certainly impacted by future conditions. Believe it's probably been discussed in this thread.

Companies making commitments now for the Keystone XL is positive news. General positivity will at the least calm the markets and less volatility now will likely lower spot price.

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I know this thread is about Oil prices but spot prices for cocoa is up 20% and cotton spot is up 17% over the last month. Wheat and soybeans prices are up too.

Will the Keystone help alleviate these input costs for producers as well?

tysker said:

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flown-the-coop said:

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EFR said:

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Since when does good news about the fairly distant future have a positive effect on current commodity prices?

---

Spot prices of commodities that can be stored are most certainly impacted by future conditions. Believe it's probably been discussed in this thread.

Companies making commitments now for the Keystone XL is positive news. General positivity will at the least calm the markets and less volatility now will likely lower spot price.

---

I know this thread is about Oil prices but spot prices for cocoa is up 20% and cotton spot is up 17% over the last month. Wheat and soybeans prices are up too.

Will the Keystone help alleviate these input costs for producers as well?

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Transport costs would be lower so I think the answer is… yes?!

One of my favorite oil analysts is working on some capex guidance for refiners, but there are limitations. Currently, we export about 4.5 million barrels per day, and due to constraints and bottlenecks, we may be able to increase to 5.5 million barrels per day. Not exactly killing it or really helping lower global oil prices

WTI down 10% on news of potential peace deal. Hormuz to gradually open over the next 30 days...supposedly.

WTI getting awfully close to dropping below $90.

A chinese vessel getting hit is going to move things lower.

Russia has already told Iran to go pound sand from a mutual defense pact and with a chinese vessel getting hit, China is gonna tap the brakes on support for Iran. Iran's clock is ticking faster and they don't have much leverage left.

ErnestEndeavor said:

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WTI getting awfully close to dropping below $90.

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Right before summer diving would be as optimal as it gets.

Sims said:

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A chinese vessel getting hit is going to move things lower.

Russia has already told Iran to go pound sand from a mutual defense pact and with a chinese vessel getting hit, China is gonna tap the brakes on support for Iran. Iran's clock is ticking faster and they don't have much leverage left.

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True.

At this point they're on life support. We just need to see if they have a DNR and can stay at this level for more than a few months or if the plug can get pulled.

ErnestEndeavor said:

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WTI getting awfully close to dropping below $90.

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WTI has dropped below $90 three times since the conflict with Iran started. We'll see if this price action is a trade or a trend

Seems like gas everywhere jumped to $4.19 overnight. I guess they didn't get the memo.

IB4 "it takes time for cheaper oil" yada yada yada. When the price of oil went up 30%, gas jumped 30% 5 minutes later.

fc2112 said:

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Seems like gas everywhere jumped to $4.19 overnight. I guess they didn't get the memo.

IB4 "it takes time for cheaper oil" yada yada yada. When the price of oil went up 30%, gas jumped 30% 5 minutes later.

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Yes because it is priced off what it will cost to refill their underground storage tank. It is a very complex global and acutely regional economy. It isn't a simple supply/demand issue.

Gas stations make literal pennies at the pump, their profits come from the fats and alcoholics who go inside and shop.

I love it - "it's hard". OK.

So price of oil jumps and it costs more to refill the tanks 5 minutes later, but price drops and it costs less to fill up the tanks one month later?

Makes sense. Oh wait - it's hard - OK.

fc2112 said:

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I love it - "it's hard". OK.

So price of oil jumps and it costs more to refill the tanks 5 minutes later, but price drops and it costs less to fill up the tanks one month later?

Makes sense. Oh wait - it's hard - OK.

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Oh man. This just reminded me of the month long email thread I had going with an Emerson director trying to pin them down on exactly which tariffs were being passed along to my company as reflected in their price increases.

They couldn't get any more detailed than "it's complicated" and sent me a table listing all of the globally active tariffs.

I feel like a fairly sharp guy and I invited them to let me in on the complicatedness but never could get them past "it's complicated."

Finally I just told them I'd feel better if they just said they used the tariff narrative as a cover to raise prices permanently.

fc2112 said:

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I love it - "it's hard". OK.

So price of oil jumps and it costs more to refill the tanks 5 minutes later, but price drops and it costs less to fill up the tanks one month later?

Makes sense. Oh wait - it's hard - OK.

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And don't forget blue collar folk who spend a ton on junk food to get them through their day.

I'd imagine those guys, the ones going daily and dropping more Thabo ten bucks each day, are the biggest money source for those the go inside.