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Price Check in the Gas and Diesel Aisle...

#1,501
#1,503
WTI Crude • 90.59 +1.22+1.37%
Brent Crude • 93.54 +1.16+1.26%

Typical, now the FED's expect to refill with cheap oil.... Which is not available.

Now, the DoE is saying that it was ready to buy oil for the reserve at a price of $79 per barrel or less. The timeframe for the potential purchases is December and January.

oilprice.com

The U.S. Plans To Buy 6 Million Barrels Of Oil For The SPR At $79 | OilPrice.com

The U.S. Department of Energy has said that it wants to buy 6 million barrels of crude oil for the SPR when oil prices hit $79.
oilprice.com oilprice.com
 
#1,504
HOUSTON, Oct 22 (Reuters) - For the past four years, the United States protected oil refiner Citgo Petroleum from creditors seeking to seize Venezuela's foreign crown jewel for billions of dollars in claims. But on Monday, a U.S. judge will kick off an auction expected to place the Houston-based company in the hands of rivals or investors.
The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years. An unknown is whether Biden administration's decision last week to ease energy sanctions on Venezuela could allow the country to repay creditors and end the lawsuit.
A senior U.S. State Department official in Washington last week said in a briefing the sanctions easing should not affect the auction. The U.S. separately extended Citgo's protection from creditors until January.
Reuters has tracked the court case for more than a year and has spoken with nearly two dozen people including employees, investors, board members, attorneys, U.S. officials, rivals and creditors involved with the company. The story they tell is one of miscalculations and a federal judge determined to make Venezuela pay its debts.
Citgo likely will end up next year in the hands of one or more of the largest refiners operating in the U.S., potentially leaving Venezuela with nothing, according to the people most closely involved.

www.reuters.com

A tale of setbacks as Venezuela's Citgo heads to US auction

For the past four years, the United States protected oil refiner Citgo Petroleum from creditors seeking to seize Venezuela's foreign crown jewel for billions of dollars in claims. But on Monday, a U.S. judge will kick off an auction expected to place the Houston-based company in the hands of...
www.reuters.com www.reuters.com
 
#1,505
"Oil" and the oil industry will be around for a long, long time, The idea of converting the world to battery power is nothing more than a pipe dream. When you see these deals going on and the staggering amount of money spent for companies to stay in the oil business.... It's not going away. What will happen is a barrel of oil will be selling for a lot more money in the future.

Chevron said on Monday it will buy smaller rival Hess in a $53 billion all-stock deal.
Chevron is offering $171 for every Hess share, implying a premium of about 4.9% to the share’s last close.
CEO John Hess of Hess Corp. is expected to join Chevron’s board of directors once the deal closes, the companies said in a statement.
The deal comes weeks after rival Exxon made a $60 billion offer for Pioneer Natural Resources that would make it the biggest producer in the largest U.S. oilfield.
www.cnbc.com

Chevron to buy Hess Corp for $53 billion in all-stock deal

Chevron said on Monday it will buy smaller rival Hess in a $53 billion all-stock deal, as the oil major looks to increase its footprint in oil-rich Guyana.
www.cnbc.com www.cnbc.com
 
#1,507
jbrand11 said:
Diesel $3.89 at last station north of Witchita Falls Friday but after crossed into Oklahoma $5.02 - $5.67
Click to expand...
That comes under that topic of "REGIONAL". Lot of guy's wanting to relocate without checking the actual cost of living in certain regions. The retailers are running those mega computers / data centers / Cloud info and just about have consumers pigeon holed down. Got it figured where it cost more in fuel to drive a long distance to get a deal. When a man is pondering a move, he needs to go camp out there for a few months before making the jump. Fuel cost, property taxes, delivery charges on utilities and all those other minor expenses will add up....
 
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#1,508
U.S. crude prices on Tuesday fell below $78 a barrel to hit the lowest point since July as weak global economic data overshadowed concerns that the Israel-Hamas war could erupt into a broader regional conflict.
West Texas Intermediate fell $3.45, or 4.3%, settling at $77.37 a barrel, while Brent fell $3.57, or 4.2%, settling at $81.61, both their lowest prices since
WTI Crude • 77.34 -3.48-4.31%
Brent Crude • 81.63 -3.55-4.17%


www.cnbc.com

U.S. crude oil prices fall below $78 a barrel to their lowest since July

WTI fell $3.45, or 4.3%, settling at $77.37 a barrel, while Brent fell $3.57, or 4.2%, settling at $81.61, both their lowest prices since July.
www.cnbc.com www.cnbc.com
 
#1,510
We will see if gasoline prices come back down to where they were in April, 2023
Chart is for WTI Crude

1699668337648.png
 
#1,512
#1,513
Hobo Hilton said:
Today's headline:

U.S. gas prices are falling and could hit the cheapest Thanksgiving day price since 2020​

In my line of thinking, when WTI oil get's back to the pre-pandemic (1/1/20) range, then life will be better, for all of us.

View attachment 8277063

www.cnbc.com

U.S. gas prices are falling and could hit the cheapest Thanksgiving day price since 2020

Gas prices have fallen for nine weeks now on a seasonal weakening of demand and a drop in crude oil prices.
www.cnbc.com www.cnbc.com
Click to expand...
I won't believe till I see it a the pumps.....
 
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#1,516
$2.50 At Sam's Chinee Emporium
Hobo Hilton said:
Today's headline:

U.S. gas prices are falling and could hit the cheapest Thanksgiving day price since 2020​

In my line of thinking, when WTI oil get's back to the pre-pandemic (1/1/20) range, then life will be better, for all of us.

View attachment 8277063

www.cnbc.com

U.S. gas prices are falling and could hit the cheapest Thanksgiving day price since 2020

Gas prices have fallen for nine weeks now on a seasonal weakening of demand and a drop in crude oil prices.
www.cnbc.com www.cnbc.com
Click to expand...
Thank Joe Biden. He's emptying th e Strategic Reserve too buy votes.
 
#1,519
#1,520
August is always a great time to short oil. Free money every year until it’s not.

Didn’t get high enough for me to build a significant position this year, but last year was really good shorting in the $120’s.
 
#1,521
Hobo Hilton said:
finance.yahoo.com

How Shell, Chevron Are Delaying US Efforts to Refill Its Emergency Oil Reserve

(Bloomberg) -- Efforts to refill the US emergency oil reserve are being slowed, in part, by companies delaying their return of borrowed barrels.Most Read from BloombergBillions Wiped Out as Stock-Safety Trade on Wall Street MisfiresRussia Downs Drones Over Moscow in Ukrainian Retaliatory...
finance.yahoo.com finance.yahoo.com
Click to expand...
LOL, fk'n misleading headline
" 5 million barrels"
out of 320(ish) million that the Gov sold....... yea, it's chevron's fault.
 
#1,523
I’m still raffing at the retards who were going bullish on oil claiming $250 per barrel possible last year.

You’d literally have a world wide forced change of government if oil hit $150 per barrel and stayed there for longer than 6 months.
 
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#1,528
WTI Crude • 70.15 -2.17-3.00%
Brent Crude • 75.25 -1.95-2.53%

A day before the EIA released its latest estimate, the American Petroleum Institute reported its own estimate showed an inventory build in crude oil and in fuels over the week to December 1, which sent oil prices even lower.
Per the EIA, fuels last week booked inventory increases.
In gasoline, the authority reported an estimate inventory build of 5.4 million barrels for last week. This compared with a build of 1.8 million barrels for the previous week.




https://oilprice.com/Energy/Crude-Oil/Oil-Falls-on-Mixed-Inventory-Changes-in-Crude-Fuels.html
 
#1,531
Just paid $2.64 today.

This is all getting you ready and primed for the election, it is a no lose for them.....not like the election matters, then why do this....easy it is the road to their goal, destruction of the USA.

If they "win" the price of gas will start to rise on Nov 6, and I have little doubt it will be well over $5 in many places inside of a year after the election. If Trump wins it will still go up, but media will be blaming Trump saying look how cheap it was under Biden, you wanted this here it is. Like I said they can't loose with this. How many stories do you see about the oil reserve?

Thing is people will buy it, be happy and buy their new Tesla and think they are so smart and try to justify it to the moon. All the while they are the true idiots that can't see, or refuse to see the truth.

Then get ready for your power to be limited....you know for the greater good, you can't charge at home unless you are in a specific group of folk. People will get grumpy and they will give just enough back to keep fingers off triggers.

We are so screwed.
 
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#1,532
fpgt72 said:
Just paid $2.64 today.

This is all getting you ready and primed for the election, it is a no lose for them.....not like the election matters, then why do this....easy it is the road to their goal, destruction of the USA.

If they "win" the price of gas will start to rise on Nov 6, and I have little doubt it will be well over $5 in many places inside of a year after the election. If Trump wins it will still go up, but media will be blaming Trump saying look how cheap it was under Biden, you wanted this here it is. Like I said they can't loose with this. How many stories do you see about the oil reserve?

Thing is people will buy it, be happy and buy their new Tesla and think they are so smart and try to justify it to the moon. All the while they are the true idiots that can't see, or refuse to see the truth.

Then get ready for your power to be limited....you know for the greater good, you can't charge at home unless you are in a specific group of folk. People will get grumpy and they will give just enough back to keep fingers off triggers.

We are so screwed.
Click to expand...
Saudi Arabia recently released a statement that they are going to increase pumping to kill our production in the Permian basin. I expect prices to get lower as the fight for market share heats up.

Winners short oil.
 
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Reactions: Maggot and Hobo Hilton
#1,533
fpgt72 said:
Just paid $2.64 today.

This is all getting you ready and primed for the election, it is a no lose for them.....not like the election matters, then why do this....easy it is the road to their goal, destruction of the USA.

If they "win" the price of gas will start to rise on Nov 6, and I have little doubt it will be well over $5 in many places inside of a year after the election. If Trump wins it will still go up, but media will be blaming Trump saying look how cheap it was under Biden, you wanted this here it is. Like I said they can't loose with this. How many stories do you see about the oil reserve?

Thing is people will buy it, be happy and buy their new Tesla and think they are so smart and try to justify it to the moon. All the while they are the true idiots that can't see, or refuse to see the truth.

Then get ready for your power to be limited....you know for the greater good, you can't charge at home unless you are in a specific group of folk. People will get grumpy and they will give just enough back to keep fingers off triggers.

We are so screwed.
Click to expand...
$2.37 at Wally's Chinese Emporium here in Lawton today. With the 5% cash back thats about $2.26. Getting better, need to keep thos swine in office.
 
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#1,546
More of the clown show. Dribble out a pittance of oil so he can say it is being filled.

oilprice.com

Biden Administration Plugs Away At Refilling Oil Stockpiles | OilPrice.com

The Biden Administration took one more baby step towards refilling the nation’s Strategic Petroleum Reserves (SPR), announcing on Friday a request for proposal for another 3 million barrels of crude oil for May delivery
oilprice.com oilprice.com
 
#1,550
If a person only used the price of WTI to forecast the future.... The status quo for 2024 has been established early in the year.
What you see is what you get for the remainder of the year.
Make the most of it.
WTI Crude • 71.53 -0.75-1.04%
Brent Crude • 76.74 -0.59-0.76%
 
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