Gas is up

[Anonymous]

The future markets open at 6 pm today.

[Anonymous]

Gas could easily be $6/gal by the summer.

[Anonymous]

The Dubai cash market for oil, as of Friday, was about $140 per barrel. But on the futures markets in New York, Brent closed at just $104.

Real buyers of oil in Asia are desperate to find crude at any price, and believe that the market is meltdown down, with no new supply coming. Paper traders in New York and London, however, believe that the oil disruptions are temporary, and will be relieved by stockpile releases and a short end to the war against Iran.

The spread between Dubai and Brent is one of the highest in history. Further, the paper market almost always prices oil higher than the physical.

One of these markets is very wrong. Either new supplies will quickly enter the market and drop the price, or New York traders will lose billions on contracts offered at far lower price.

https://youtu.be/7ilufxBjvy8?si=1pZgssis2HueJa_3

Market manipulation.

[Anonymous]

Some good advice

[Anonymous]

[Anonymous]

Anonymous wrote:Lucky Israel...

The Guardian: "In 1975, Kissinger signed what forms the basis for the Haifa project: a Memorandum of Understanding whereby the US would guarantee Israel's oil reserves and energy supply in times of crisis. . .
The memorandum has been quietly renewed every five years, with special legislation attached whereby the US stocks a strategic oil reserve for Israel even if it entailed domestic shortages - at a cost of $3 billion (£1.9bn) in 2002 to US taxpayers."

(1) This was in exchange for Israel giving the Sinai desert to Egypt.

(2) it's part of an international reserves-sharing agreement among many nations.

"(b) If the oil Israel needs to meet all of its normal requirements for domestic consumption is unavailable for purchase in circumstances where' quantitative restrictions through embargo or otherwise also prevent the United States from procuring oil to meet its normal requirements, the United States Government will promptly make oil available for purchase by Israel in accordance with the International Energy Agency conservation and allocation formula as applied by the United States Government, in order to meet Israel's essential requirements.

https://jewishvirtuallibrary.org/israel-united-states-memorandum-of-understanding-1975

[Anonymous]

Anonymous wrote:

Anonymous wrote:Don't worry, at least there was a resolution passed around 15-20 years ago by Congress that states if there's ever a global oil crisis/shortage, israelis will get US reserves before Americans do.

Wonder how many Americans know about that law.

No way this is true?

Of course it's not true.

[Anonymous]

Anonymous wrote:

Why is this only 48%? Who/what else could be to blame??

[Anonymous]

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Why is this only 48%? Who/what else could be to blame??

j'bdin of course

[Anonymous]

Anonymous wrote:

and anyone paying attention to 7th grade world geography knows this

[Anonymous]

This is why going on renewables is a National Security issue.

[Anonymous]

Gotta gas up to git mah eggs.

[Anonymous]

I thought Americans’ vehicles came with the right to gas under $3.00.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Why is this only 48%? Who/what else could be to blame??

Iran of course. How dare them defend themselves and block the straight of Hormuz.