We are back, to what I call the "Expensive Oil"..... $80+ / barrel
| WTI Crude • | 80.48 | +0.80 | +1.00% |
| Brent Crude • | 86.24 | +0.41 | +0.48% |
Price Check in the Gas and Diesel Aisle...
- Thread starter BullGear
- Start date
Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum
stake over the past trading sessions, a regulatory filing revealed Tuesday evening.
The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in the range from $59.8 to $61.9, the filing showed.
www.cnbc.com
stake over the past trading sessions, a regulatory filing revealed Tuesday evening.
The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in the range from $59.8 to $61.9, the filing showed.
Warren Buffett's Berkshire Hathaway buys more Occidental Petroleum shares
Warren Buffett's Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions.
Crude oil prices started this week with a loss. The reason for that initial weekly loss came down to overall global economic growth pessimism and expectations that the U.S. Federal Reserve will continue raising interest rates, making the dollar more expensive and sapping demand for dollar-priced crude.
oilprice.com
Oil Prices Are Set To Rise Throughout 2023 | OilPrice.com
Most forecasters seem to expect higher prices for oil later this year as increasing global demand is set to outpace supply
oilprice.com
warren buffet knows that Petro isn't going away soon, and he's prepared to make someone pay.
Looks like I last paid less than $4/gallon for diesel back in late Feb. 2022. I paid as low as $4.199 last week but the most recent fill was $4.399. Haven't bought premium since the car has been garaged all winter, but it appears to be hovering around $3.80 and I don't see that getting better with the summer driving season.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/JFZLKZ7K2ZOGFF3ZNFPDCVQVHM.jpg)
Biden administration approves massive Willow oil project in Alaska
The Biden administration is approving a scaled-back version of ConocoPhillips' $7 billion oil and gas drilling Willow project in Alaska, the U.S. Department of Interior said on Monday, drawing cheers from Alaskan officials and the oil industry but criticism from environmental advocates.
www.reuters.com
Pay wall warning.... but, the headline says it all.
www.cnbc.com
Warren Buffett's Berkshire Hathaway scoops up more Occidental shares on the oil dip
Warren Buffett's Berkshire Hathaway snapped up more shares of Occidental Petroleum, taking advantage of sliding oil prices amid the spreading banking crisis.
They must know something
oilprice.com
Goldman Sachs No Longer Sees $100 Oil In 2023 | OilPrice.com
Previously expecting Brent to hit $100 in the second half, now Goldman Sachs no longer sees triple-digit oil
oilprice.com
And 87 is still $4 in AZ.They must know something
Goldman Sachs No Longer Sees $100 Oil In 2023 | OilPrice.com
Previously expecting Brent to hit $100 in the second half, now Goldman Sachs no longer sees triple-digit oil
higher gas prices now at 66.83 a barrel, gas was only 3.60 a gallon at 80 a barrel. yup, good times.And 87 is still $4 in AZ.
Gas has more moves than a 1960's yo-yo. It's moved 30 cents multiple times over the last 2-3 weeks.
"Peak Oil" ?... Maybe not
Certainly an end run around US Oil and the Petrodollar
oilprice.com
Certainly an end run around US Oil and the Petrodollar
Saudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China | OilPrice.com
Saudi Arabia’s oil giant, as it moves to secure long-term demand for its oil, will build a $10 billion refining and petrochemical complex in China.
oilprice.com
South Florida Costco, regular $3.02"Peak Oil" ?... Maybe not
Certainly an end run around US Oil and the Petrodollar
Saudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China | OilPrice.com
Saudi Arabia’s oil giant, as it moves to secure long-term demand for its oil, will build a $10 billion refining and petrochemical complex in China.
Pirates Board Oil Tanker Offshore West Africa | OilPrice.com
An oil and chemical tanker has been attacked by pirates in the Gulf of Guinea, the crew members sought refuge in the vessel’s safe room but communication is down.
oilprice.com
Several of the world's largest oil exporters have announced surprise cuts in production in a move which is expected to push up prices.
Saudi Arabia, Iraq and several Gulf states said they were cutting output to support market stability.
Oil prices soared when Russia invaded Ukraine, but are now back at levels seen before the conflict began.
However, the US has been calling for producers to increase output in order to push energy prices lower.
Saudi Arabia, Iraq and several Gulf states said they were cutting output to support market stability.
Oil prices soared when Russia invaded Ukraine, but are now back at levels seen before the conflict began.
However, the US has been calling for producers to increase output in order to push energy prices lower.
Oil prices surge after surprise move to cut output
Brent Crude jumps by more than $5 a barrel after a group of oil exporters say they will cut production.
www.bbc.com
Oil prices have surged after several of the world's largest oil exporters announced surprise cuts in production.
The price of Brent Crude oil jumped by more than $5 a barrel, or 7%, to above $85 as trading began.
The increase came after Saudi Arabia, Iraq and several Gulf states said on Sunday they were cutting output by more than one million barrels a day.
Oil prices soared when Russia invaded Ukraine, but are now back at levels seen before the conflict began.
However, the US has been calling for producers to increase output in order to push energy prices lower.
The price of Brent Crude oil jumped by more than $5 a barrel, or 7%, to above $85 as trading began.
The increase came after Saudi Arabia, Iraq and several Gulf states said on Sunday they were cutting output by more than one million barrels a day.
Oil prices soared when Russia invaded Ukraine, but are now back at levels seen before the conflict began.
However, the US has been calling for producers to increase output in order to push energy prices lower.
Oil prices surge after surprise move to cut output
Brent Crude jumps by more than $5 a barrel after a group of oil exporters say they will cut production.
www.bbc.com
| WTI Crude • | 80.62 | +4.95 | +6.54% |
| Brent Crude • | 85.09 | +5.20 | +6.51% |
Oil prices surge after surprise move to cut output
OPEC+ on Sunday surprised oil markets with an announcement that it will reduce its output further, by some 1.16 million barrels daily.
Reuters noted in a report that with the new cut, the total output reduction amount from OPEC+ will come in at 3.66 million barrels daily, or 3.7% of global oil demand.
The Financial Times reported that oil prices had gained 8% immediately after the announcement, noting Saudi Arabia’s share of the cuts would be almost half of the total, at 500,000 bpd.
oilprice.com
Reuters noted in a report that with the new cut, the total output reduction amount from OPEC+ will come in at 3.66 million barrels daily, or 3.7% of global oil demand.
The Financial Times reported that oil prices had gained 8% immediately after the announcement, noting Saudi Arabia’s share of the cuts would be almost half of the total, at 500,000 bpd.
Oil Prices Soar As OPEC+ Shocks The Market | OilPrice.com
OPEC+ shocked the oil markets with an announcement that it will reduce its output by a further 1.16 million barrels per day.
oilprice.com
86 Octane Gas as of 3/30/23
Phoenix 4.49
Heber, AZ - 3.65
Gallup, NM - 3.49
Albuquerque, NM - 3.27
Sante Fe, NM - 3.27
Holbrook, AZ - 3.61
Someone is fk'n PHX, cause that is a dollar higher than anywhere else on the 'National' Average.
Whats it really matter; because after opening todays mail, auto-insurance renewals are off the chart. State Farm wants to fly with Elon.
The oil producing countries of the world have now "Called America's Bluff".
Yellen is nothing more than a Paper Tiger.
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WASHINGTON — Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut announced Sunday was an “unconstructive act,” which could hurt U.S. efforts to lower inflation.
“I think it’s a regrettable action that OPEC decided to take. I’m not sure yet just what the price impact will be, I think we need to wait a little longer for, you know, to really assess that,” Yellen told reporters Monday following an event at Yale University in New Haven, Conn.
Yellen also said the production cuts could, in the future, merit a reassessment of the current $60 per barrel price cap on Russian oil shipped in Western tankers. But she said that raising the cap was not necessary for now.
www.cnbc.com
Yellen is nothing more than a Paper Tiger.
__
________WASHINGTON — Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut announced Sunday was an “unconstructive act,” which could hurt U.S. efforts to lower inflation.
“I think it’s a regrettable action that OPEC decided to take. I’m not sure yet just what the price impact will be, I think we need to wait a little longer for, you know, to really assess that,” Yellen told reporters Monday following an event at Yale University in New Haven, Conn.
Yellen also said the production cuts could, in the future, merit a reassessment of the current $60 per barrel price cap on Russian oil shipped in Western tankers. But she said that raising the cap was not necessary for now.
Janet Yellen says OPEC+ production cut is an 'unconstructive act'
Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut was an "unconstructive act," which could hurt U.S. efforts to lower inflation.
www.cnbc.com
Last edited:
Redefining :
__________________
Spent a lifetime in heavy industrial construction. I thought "unconstructive" was the same as "demolition". Probably too harsh word for Yellen to use. Could cause a panic.
www.cnbc.com
‘unconstructive act’
WASHINGTON — Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut announced Sunday was an “unconstructive act,” which could hurt U.S. efforts to lower inflation.__________________
Spent a lifetime in heavy industrial construction. I thought "unconstructive" was the same as "demolition". Probably too harsh word for Yellen to use. Could cause a panic.
Janet Yellen says OPEC+ production cut is an 'unconstructive act'
Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut was an "unconstructive act," which could hurt U.S. efforts to lower inflation.
www.cnbc.com
I filled up with 87 for 3.39/gal today at Sam’s Club, North Central WV. Sounds like it’s about to rocket up again.
The Musing of someone who spent 30 years working for one of the Majors.
"I think it's just OPEC being preemptive in face of dropping oil prices and world wide banking concerns... even Russia is doing it... trying to prop up declining oil prices.
"
"I think it's just OPEC being preemptive in face of dropping oil prices and world wide banking concerns... even Russia is doing it... trying to prop up declining oil prices.
"
LOL.... It's just business.
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Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter.
Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project.
oilprice.com
______________
Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter.
Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project.
Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit | OilPrice.com
Russia’s president has approved a request by Novatek to allow Shell to receive $1.2 billion for its stake in the Sakhalin-2 LNG project.
oilprice.com
"It's the Saudi's Fault" - New Biden NarrativeRedefining :
‘unconstructive act’
WASHINGTON — Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut announced Sunday was an “unconstructive act,” which could hurt U.S. efforts to lower inflation.
__________________
Spent a lifetime in heavy industrial construction. I thought "unconstructive" was the same as "demolition". Probably too harsh word for Yellen to use. Could cause a panic.
Janet Yellen says OPEC+ production cut is an 'unconstructive act'
Treasury Secretary Janet Yellen said the surprise OPEC+ oil production cut was an "unconstructive act," which could hurt U.S. efforts to lower inflation.
Saudi said they are going to reduce production by 1,000,000 barrels last weekend. Should get spicy.
Really surprised high performance albeit low mpg trucks e.g. TRX, Raptor prices would have declined sharply with rising gas prices. I somewhat envisioned acquiring one but they’ve held their price point surprisingly well.
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