Expect the price of oil to drift up due to this.
Drone strikes target world's largest oil processing facility, Saudi oil field; attack claimed by Iranian-backed rebels
https://www.foxnews.com/world/drone-...ty-iran-rebels
Still in the state of fruits and nuts. About $3.799.
Expect the price of oil to drift up due to this.
Drone strikes target world's largest oil processing facility, Saudi oil field; attack claimed by Iranian-backed rebels
https://www.foxnews.com/world/drone-...ty-iran-rebels
Oil To Hit $100? Half Of Saudi Oil Output Shut After Drone Strikes Cripple World's Largest Oil Processing Facility
Update: The WSJ is out with an update hinting at just how much the price of oil is set to soar when trading reopens late on Sunday after the Saudi Houthi false-flag drone attack on the largest Saudi oil processing plant:Saudi Arabia is shutting down about half of its oil output after apparently coordinated drone strikes hit Saudi production facilities, people familiar with the matter said, in what Yemen’s Houthi rebels described as one of their largest-ever attacks inside the kingdom.And while Aramco is assuring it can restore output quickly, in case it can't the world is looking at a production shortfall of as much as 150MM barrels monthly, which - all else equal - could send oil soaring into the triple digits. Just what the Aramco IPO ordered.
The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil. The kingdom produces 9.8 million barrels a day.
https://www.zerohedge.com/geopolitic...facility-saudi
Note: This is NOT my opinion. No arguments here!
WTI Crude (Oct'19) (@CL.1:New York Mercantile Exchange
https://www.cnbc.com/quotes/?symbol=%40CL.1
60.43 +5.58 (+10.17%)
Crude Oil WTI (NYM $/bbl) Front Month
https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
Don't worry. Trump said he's opening the strategic petrolium reserve - you know- the reserve that we have IN CASE SUPPLIES ARE DISRUPTED (Nothing has really been disrupted yet).
And, by the way, I filled up my car today with GASOLINE - something I rarely do , and I did it only because I was able to get it for the lowest price I have seen in a year- $2.38 a gallon for E10.
Nope- we have a LONG way to go before gasoline prices spike to unaffordable levels. Gas could go a buck higher, and hardly anybody would notice . The prices are down and falling before today, because production is going fine, and demand is falling off.
Prices locally are at a 3 month low where I am. No hike seen this morning.
Falling-prices.jpg
Brent crude oil spikes the most in history after Saudi attacks, last up 14%
https://www.cnbc.com/2019/09/15/us-c...roduction.html
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Crude edges lower after largest one-day rise on record
Crude-oil futures contracts CrCrude-oil futures contracts edged lower on Tuesday, after seeing the biggest one-day move on record in the wake of the attacks that took half of Saudi Arabia output offline. Brent crude BRN00, -6.29% fell 32 cents to $68.70 a barrel and light sweet crude CL.1, -5.91% fell 59 cents to $62.31. Oil producers still enjoyed gains, with shares of Total FP, -0.27% and BP BP, -1.72% higher in early European trade.[more]
https://www.marketwatch.com/story/cr..._theo_homepage
Gas jumped from $2.39 to $2.85 yesterday.
May the force be with us.
From $2.22 to $2.50 a gallon in Boiled Peanut GA!
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