Thread: Oil Slick Stuff

Averaging in the mid $2.30's here on the North Coast.

E10 averaging around $2.14 a gallon, they need to fix that pipeline in Libya!

Iran unrest jolts oil prices to 3-year highs

By Henning Gloystein, Dmitry Zhdannikov Published January 01, 2018
SINGAPORE/LONDON (Reuters) - Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.


U.S. West Texas Intermediate (WTI) crude futures traded flat at around $60.40 by 1200 GMT after hitting $60.74 earlier in the day, their highest since June 2015.
Brent crude futures, the international benchmark, were also flat at around $66.80 after hitting a May 2015 high of $67.29 a barrel earlier in the day.
It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel. [more]

Iran unrest jolts oil prices to 3-year highs | Fox Business

Crude oil jumps to 3-year high as Iran tensions spark supply fears

Published: Jan 4, 2018 6:40 a.m. ET

Oil prices hit a three-year high on Thursday, with ongoing protests in major producer Iran adding a geopolitical risk premium to the market.
West Texas Intermediate futures CLG8, +0.05% rose 12 cents, or 0.2%, to $61.75, on track for its highest settlement level since December 2014.
Brent crude LCOH8, -0.18% the global oil benchmark, eased 0.1% to $67.79 a barrel on London’s ICE Futures exchange, having earlier peaked at $68.27, the highest level since May 2015.
Antigovernment protests in Iran over the past week have been partly driven by economic grievances after the lifting of international sanctions two-years ago did not generate the expected windfall. Some foreign leaders including U.S. President Donald Trump have been critical of how Iran has used money on foreign conflicts, another focal point of protester anger.
“The market has taken a strong cue from the increased level of back-and-forth between Iran and the U.S. in response to widespread pro-reform protests in the third-biggest OPEC crude producer over the last week,” said consultancy JBC Energy in a note.
“The potential reinstatement of U.S. sanctions targeting the Iranian oil industry remains an issue.”
The U.S. is due to review temporary waivers on sanctions against Iran later this month.
There are fears that the riots, which have left more than 20 people dead, may lead to disruption to crude output from OPEC’s third-largest producer, which would limit global oil supply and support prices. For now, however, Iran’s oil exports[more]

https://www.marketwatch.com/story/cr...ars-2018-01-04

Trump administration dramatically expands offshore drilling

Fox News


Watch Video:
Just news no need to make it Political HERE!

The Trump administration announced Thursday it is planning to dramatically expand offshore drilling, opening almost all U.S. coastal waters to potential oil and gas exploration and development.
The Interior Department is proposing 47 possible auctions of drilling rights in stretches of the U.S. outer continental shelf. This includes the Pacific Ocean near California, opening up waters off the state's coast for the first time in three decades.
“Responsibly developing our energy resources on the Outer Continental Shelf in a safe and well-regulated way is important to our economy and energy security, and it provides billions of dollars to fund the conservation of our coastlines, public lands and parks,” Interior Secretary Ryan Zinke said in a statement.
The five-year drilling plan also opens up new areas of exploration off the East Coast from Georgia to Maine, where this type of drilling has been blocked for decades.
Many lawmakers in those states support offshore drilling, though the Democratic governors of North Carolina and Virginia oppose drilling off their state coasts. [more]

Trump administration dramatically expands offshore drilling | Fox News

I think it's a bad move. We need to get away from our oil dependency. Almost everything we use has some kind of oil byproduct in it, and it's a limited resource. Once it's gone it's gone. If the big war comes every oil refinery and distribution center is a target. Then what?

Off the soapbox. Flame suit on. Next!!!

Originally Posted by nasa1974

I think it's a bad move. We need to get away from our oil dependency. Almost everything we use has some kind of oil byproduct in it, and it's a limited resource. Once it's gone it's gone. If the big war comes every oil refinery and distribution center is a target. Then what?

Off the soapbox. Flame suit on. Next!!!

I think when we do, if we do run out of oil we will quickly find another resource to take it's place, but it will be much more expensive.

Not in our life time or our kid's-kid's life time..the sky isn't falling yet..so quit worrying about something that won't affect you or the next generation or for the next 200 years..live a little while you can damnit.

Besides..it is proven that OIL is constantly and naturally replenishing itself. It's called mineral oil because it made from minerals..hello. calling it fossil fuel is biggest all time misconception.

Originally Posted by Buster

Not in our life time or our kid's-kid's life time..the sky isn't falling yet..so quit worrying about something that won't affect you or the next generation or for the next 200 years..live a little while you can damnit.

Besides..it is proven that OIL is constantly and naturally replenishing itself. It's called mineral oil because it made from minerals..hello. calling it fossil fuel is biggest all time misconception.

Exactly!

E10 up .12 to $2.17/gal overnight

E10 AROUND $2.20 A GALLON IN BPGA!!;swear!