4 said:

---

This won't last long.

We'll be back at 70-80 bucks soon enough

---

Correct. Hope it lands more $80 than $70

Queso1 said:

---

$116.03 is the sweet spot. I watched a few episodes of landman.

---

Lol everyone is an expert with a paramount+ sub.

lol exactly

MidlandOil$ said:

---

4 said:

---

This won't last long.

We'll be back at 70-80 bucks soon enough

---

Correct. Hope it lands more $80 than $70

---

That's pretty much what most folk who actually work in O&G say, which makes sense as it's good for the costumer and the industry.

Stocks soared when oil was up last time. I think at the moment the two movements are connected to the same root event but not to each other

You realize that 2$ of that is directly due to Californias regulations and taxes…..

FlyRod said:

---

Chatter from oil folks I'm hearing is $156 by June. That's the summer floor (projected) not ceiling. Well this thread can and should stay alive just to check the numbers.

---

At that price we will have a national championship in football, basketball and baseball in 2027 and 2028.

If not we can truly say we are cursed.

US and Two Other G7 Countries Support Coordinated Emergency Oil Stock Release – FT

— First Squawk (@FirstSquawk) March 9, 2026

Sounds like a great time to get a deal on an F250

BREAKING: US oil prices are currently attempting one of their biggest reversals in history.

At 10:30 PM ET, US oil prices were up as much as +30% on the day.

Then, FT reported that G7 countries are considering releasing 400 million barrels of crude oil from reserves.

Less than… pic.twitter.com/G1uRHvkFxX

— The Kobeissi Letter (@KobeissiLetter) March 9, 2026

nortex97 said:

---

BREAKING: US oil prices are currently attempting one of their biggest reversals in history.

At 10:30 PM ET, US oil prices were up as much as +30% on the day.

Then, FT reported that G7 countries are considering releasing 400 million barrels of crude oil from reserves.

Less than… pic.twitter.com/G1uRHvkFxX

— The Kobeissi Letter (@KobeissiLetter) March 9, 2026

---

It's good to see these countries (Canada, France, Germany, Italy, Japan, United Kingdom, United States) do this.

Is the amount being released the reason why the sharp reversal? Basically the amount makes up for what's currently being lost due to the war? Or is it just that the government(s) getting involved in this area, so it's easing concerns of the market?

Either way, this is definitely a positive. Now let's see how much lower it can go

I don't think those countries have much in terms of 'strategic reserves' as they are collectively governed by imbeciles at best. We used to have a great thread about how Bidenflation was 'transitory' but I am not feeling industrious enough to look for it again (note again half our reserve was drained at a million barrels a day for 6 months heading into the 2022 mid-terms because that's what the Potatus WH brain trust thought would politically benefit Democrats, much of it shipped to China directly).

This time, though, oil/gas prices really are experiencing a momentary/transitory jump imho, as the 'war' is unlikely to run more than a few more weeks, imho.

I am not commodities trading expert, but would swag WTI holds around 95-105 today.

US oil prices extend their reversal, now dropping below $100/barrel and up just +9% on the day.

We are witnessing one of the biggest daily crude oil reversals in history. pic.twitter.com/Ura3MFmR4y

— Abhi ™ (@Patelizm) March 9, 2026

IEA countries are supposed to maintain a reserve of 90 days of imports unless exempted by being exporters. Our reserve is supposed to last 60 days if full.

https://www.morningstar.com/news/marketwatch/2026030943/g7-scrambles-emergency-meeting-and-could-deploy-unprecedented-oil-reserves-as-prices-soar-report

It is not about the war, it is about the speculation (futures).

Houston Lee said:

---

HollywoodBQ said:

---

Good Bull! (right?)

---

All of this is temporary. This is all an overreaction.

---

Wait, you don't think the Straits of Hormuz will be closed forever? How MAGA of you.

mm98 said:

---

Sounds like a great time to get a deal on an F250

---

Or any other truck. Lots are Full of F150s also in the Houston area.

HoustonAggie11 said:

---

FlyRod said:

---

Chatter from oil folks I'm hearing is $156 by June. That's the summer floor (projected) not ceiling. Well this thread can and should stay alive just to check the numbers.

---

"oil folks" lol

---

He talked to a crude oil tanker driver at Kroger.

atmtws said:

---

Anyone want a boat? It's never even been on the water yet.

---

LOL

Logos Stick said:

---

HoustonAggie11 said:

---

FlyRod said:

---

Chatter from oil folks I'm hearing is $156 by June. That's the summer floor (projected) not ceiling. Well this thread can and should stay alive just to check the numbers.

---

"oil folks" lol

---

He talked to a crude oil tanker driver at Kroger.

---

I will predict that if oil is north of $275 by November that the stock market will be down and the midterms will be a blue wave like we have never seen. Particularly with ongoing wars in VZ, Iran, soon Cuba, Canada and China.

No way MAGA turns out if those things happen. Book it.

rgag12 said:

---

The Kraken said:

---

Might see some of these at a gas pump near you



Etsy.com

---

Imitation is the sincerest form of flattery.

Liberals seriously have zero creative bones in their bodies

---

Looks like a capitalist to me.

Ellis Wyatt said:

---

Dan Scott said:

---

Maybe build a coalition before starting a war in the Middle East.

---

with whom? We are Europe's defense. They are worthless.

---

Yes.

And maybe don't send billions to a terrorist country hellbent on developing nuclear weapons and funding terror in the region. This was preventable.

mm98 said:

---

Sounds like a great time to get a deal on an F250

---

flown-the-coop said:

---

HTownAg98 said:

---

rgag12 said:

---

The Kraken said:

---

Might see some of these at a gas pump near you



Etsy.com

---

Imitation is the sincerest form of flattery.

Liberals seriously have zero creative bones in their bodies

---

The imitation is the point.

---

But it's not funny. Not even a little, cause it's copy cat.

It's pretty weak and lacks thought, creativity. That's the point.

---

Unfortunately, it gives the weak an opening to say, "look see, him too!"

Childish and immature, very. And since prices should be down by summer, pointless when it comes to the midterms.

So the circumstance at the end of 2025 was roughly 800k barrels per day of sanction dodging crude going to China via shadow fleets. Today, there are 850k barrels (and increasing) of oil going to the US and India by legitimate channels at market prices - including US favored DCO which hasn't been exported from Venezuela since 2024. More importantly, revenue from the sale of Venezuelan oil is no longer in the hands of a government unfriendly to the US but in a US controlled escrow position.

The Trump Admin has flipped Venezuelan oil from a geopolitical liability to asset in less than 2 months in the runup to what he knew what have to happen in Iran.

The plans may not be of Trump's origin and execution but he has enough disregard for "conventional wisdom" to act boldly when it needs to happen.

I wonder where oil prices would be otherwise?

Dan Scott said:

---

bmks270 said:

---

Dan Scott said:

---

Japanese market down 7%
Korean market down 8%

Our allies will soon be very pissed off.

---

Maybe the world should help out and join us in taking back the straight?

---

Maybe build a coalition before starting a war in the Middle East.

---

Iran would have struck first seeing us gather a coalition. IDK what those countries can help us do anyway?

We were down in Midland all week for a volleyball tournament. The mood was good.

In retrospect we should have known Nate silver writing 3 articles using polymarket wagers as talking points was the top

— Latinx Adjacent Doctor PhD (@TonerousHyus) March 9, 2026

Nate Silver indeed has quite a tarnished reputation at this point, in more ways than one.

These price spikes in the US is not supply driven as we have enough domestic production but it is a global market. And a lot of the rest of the world are too dependent on production from the ME. So it is largely fear driven right now.

Will shortages begin to really cause problems abroad if the Strait was closed for an extended period of time? Sure. Do we know how to keep that from happening? Yeppers. Marco laid it out this morning. Destroy their navy- check, Destroy their shore based missile capability-work in progress.