FatZilla said:

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WTI at $88 and falling like a brick

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Somebody's needs to tell the gas stations who jumped pricess up like a rocket because gas isn't falling like anything, seeing as how it is still $3.49.

ag94whoop said:

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It would be nice to have a larger portion of the world using our oil and natural gas. A healthy O&G industry is still important for the state of Texas

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That's not really an option Unless we are going to have Americans pay above market price for oil

The overall state of the global economy and The Saudis ( and a few other Arab states ) determine the price and trend of Oil prices

In a bad global economy the price goes down Saudi et al reduce output to keep the price up
In a good global economy Saudi increases output to keep things from getting out of hand

and everybody else makes some money when the economy is good and the Saudis decide the price needs to go up and try not to lose it all when the Saudis decide it needs to go down

Price controls severe consumption restrictions could guarantee a healthy and less lucrative O&G sector but I Don't see any president putting a $1.50 tax On gasoline to drive down demand just to create a new era where the US is both isolated and Independent with respect to O&G

now 20% oil moving through the Straits today

Those of us who made it through ($50) oil for a day in aught 20, suspected that this wouldn't last long.

My boss was jumping up and down that we needed to see if our customers were going to increase capacity now that oil was @ $120. I told him to give it a day or two and we would talk.

As expected, we are just under $90 right now and I expect price to drop as shipments start to move.

No Spin Ag said:

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FatZilla said:

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WTI at $88 and falling like a brick

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Somebody's needs to tell the gas stations who jumped pricess up like a rocket because gas isn't falling like anything, seeing as how it is still $3.49.

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"Never let a good crisis go to waste" Winston Churchill (UN formation speech).

Diesel hit $4.75 here in NW CO yesterday. Riding the Harley to work all week instead of driving the F250 lol.

fc2112 said:

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$84.36.

And yeah - when the price of oil goes up, gas retailers all be like "yeah we don't own the gas inventory".

Then when it goes down it's like "yeah, it takes time for that lower price to pass through...."

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It is a cycle or pricing depending on how often their shipments arrive and what the price is at that time. That becomes a sunk cost until that inventory is gone and the next shipments are at lower prices. So there is a lag in decreasing them but raising them is anticipatory, what they predict the next shipments will cost them.

By that metric, obviously larger volume stations will run through the costly inventory faster and have more capability to lower prices when their shipment costs go down.

carl spacklers hat said:

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FlyRod said:

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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.

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So what's the chatter now from "the sky is falling" crowd? Don't disappear on us after posting your prognostications, as erroneous as they may be. Let's check the numbers. What say you now, Nostradamus?

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just fell to $84 in the past hour.

is $84 the same as $156?

but it's "chatter"!!!

LMCane said:

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carl spacklers hat said:

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FlyRod said:

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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.

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So what's the chatter now from "the sky is falling" crowd? Don't disappear on us after posting your prognostications, as erroneous as they may be. Let's check the numbers. What say you now, Nostradamus?

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just fell to $84 in the past hour.

is $84 the same as $156?

but it's "chatter"!!!

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As with buying two teas, if you buy two barrels you can get to $156. Makes sense to me.

[Attacking other posters won't get you anywhere but a timeout -- Staff]

LMCane said:

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carl spacklers hat said:

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FlyRod said:

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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.

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So what's the chatter now from "the sky is falling" crowd? Don't disappear on us after posting your prognostications, as erroneous as they may be. Let's check the numbers. What say you now, Nostradamus?

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just fell to $84 in the past hour.

is $84 the same as $156?

but it's "chatter"!!!

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As a 11 year veteran of O&G….the "oil folks" chattering generally don't know jack **** about the price of oil or what it is, was, or might be doing in the future.

It's like asking the Walmart cashier what the company earnings report will be in Q2.

[If you've got a suggestion for moderation, reach out to Moderator at TexAgs. Grandstanding over it on the boards won't get you anywhere but a timeout -- Staff]

I am counting on the politics of this to bring the price of diesel down. Took my motorhome in for yearly maintenance when price was around the $3.00 mark. Picked up last Friday and price was moving toward $ 5.00. Counting on the President to get this back in line.

Dorm 15 said:

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I am counting on the politics of this to bring the price of diesel down. Took my motorhome in for yearly maintenance when price was around the $3.00 mark. Picked up last Friday and price was moving toward $ 5.00. Counting on the President to get this back in line.

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Not up on current events?

Low today so far that I have seen is 77$

Well aware of current events but I believe that the President will only tolerate short
term high fuel prices.

Marshall Islands Tanker

broadcasting as Chinese and running through the Straits of Hormuz right now

samurai_science said:

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Low today so far that I have seen is 77$

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"How low can you go? How low can you go?"

To the youngins, that's a reference to the movie Grease

Diesel should be upper 3s based on current pricing.

https://www.bbc.com/news/articles/cy031d1ny7jo

This policy change, probably temporary, should help.

BrazosDog02 said:

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LMCane said:

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carl spacklers hat said:

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FlyRod said:

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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.

---

So what's the chatter now from "the sky is falling" crowd? Don't disappear on us after posting your prognostications, as erroneous as they may be. Let's check the numbers. What say you now, Nostradamus?

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just fell to $84 in the past hour.

is $84 the same as $156?

but it's "chatter"!!!

---

As a 11 year veteran of O&G….the "oil folks" chattering generally don't know jack **** about the price of oil or what it is, was, or might be doing in the future.

It's like asking the Walmart cashier what the company earnings report will be in Q2.

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Are these the same oil folks that have upgraded the double wide, two seadoos on trailers in the yard, a bass boat, two side by sides and three vehicles in disrepair, with their pit bulls chained up to protect it all?

Dorm 15 said:

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https://www.bbc.com/news/articles/cy031d1ny7jo

This policy change, probably temporary, should help.

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Ships are moving again through the strait, that's what is helping but need more to do it. Even with transponders off

BREAKING: Oil prices surge above $85/barrel on reports that US intelligence has begun to see indications that Iran is deploying mines in the Strait of Hormuz, per CBS.

Oil prices are now up +$10/barrel in 50 minutes. pic.twitter.com/bjtFsICrmV

— The Kobeissi Letter (@KobeissiLetter) March 10, 2026

From US navy escorting vessels to this within an hour

Dan Scott said:

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BREAKING: Oil prices surge above $85/barrel on reports that US intelligence has begun to see indications that Iran is deploying mines in the Strait of Hormuz, per CBS.

Oil prices are now up +$10/barrel in 50 minutes. pic.twitter.com/bjtFsICrmV

— The Kobeissi Letter (@KobeissiLetter) March 10, 2026

From US navy escorting vessels to this within an hour

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I would like additional sources on this. Mining the straight isn't a quick or easy process, and it would leave the crews doing it very exposed.

ETA: this tweet looks like it's propping someone's position in NYC.

considering we already sank all of the Iranian navy mine layers and naval warships

so we are talking speedboats that MAY be able to dump one mine over the side. before they are blown up.

I am sure we have assets looking for all their remaining speedboats.

we saw what happened to the Venezuelan speedboats!

Speculators at work. Someone betting money behind the rumor

Market gave up gains and oil popped on the report of mines and confirmation navy didn't escort ships

Timing is odd

Exxon Mobil, $XOM, has evacuated non-essential employees from operations in the Middle East, per PRNewswire

— unusual_whales (@unusual_whales) March 10, 2026

LMCane said:

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considering we already sank all of the Iranian navy mine layers and naval warships

so we are talking speedboats that MAY be able to dump one mine over the side. before they are blown up.

I am sure we have assets looking for all their remaining speedboats.

we saw what happened to the Venezuelan speedboats!

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I'm not even sure using the tiny fast boats is even possible. A simple Google search says these mines weigh between 500-2500lbs.

You're not just casually yeeting this mines off the side of a former fishing boat with an extra couple of motors on it.

https://taskandpurpose.com/news/military-iran-sea-mines-drones/

We've been targeting their ships and mine stockpiles but they still have lots of vessels capable of putting mines in the strait. They don't need a perfect minefield, they need enough to create FUD and keep tankers out.

Then they'll do what they can against what we send to clear whatever mines they manage to lay