Anonymous wrote:
How much will gas at the pump cost if the price goes to $200/bbl?

The oil futures paper market is likely underestimating the massive supply disruption that a closed Strait of Hormuz is creating in physical crude and fuel supply globally.

Crude futures prices briefly spiked early this week to $119 per barrel, before retreating to the $90s and trading at $100 a barrel early on Friday in Asian trade.

However, the premium of physical Dubai crude has surged to $38 per barrel over its paper equivalent, according to data compiled by Reuters columnist Clyde Russell.

The wide gap between paper and physical prices suggests that supply is being immediately choked off.
…
With limited capacity available to bypass the crucial Strait of Hormuz and storage filling up, Gulf producers have slashed their combined oil output by at least 10 million barrels per day, the IEA said in its monthly Oil Market Report on Thursday.

In addition, over 3 million barrels per day of refining capacity in the Gulf region has already shut due to attacks and a lack of viable export outlets.
..
Early this week, analysts at Wood Mackenzie said that Brent Crude prices could surge to $150 per barrel in the coming weeks.

“However, supply volumes at risk this time are dimensionally bigger – and real,” unlike in the 2022 Russian invasion of Ukraine, when supply was free flowing and just had to redirect to China and India, according to WoodMac.

“In our view, US$200/bbl is not outside the realms of possibility in 2026,” the analysts said.

Wall Street Bankers Offered Lucrative Access to Join the Pentagon
A presentation from a headhunting firm aimed to recruit Wall Street investors to the Pentagon by offering “unmatched access” to government officials and fund-raising opportunities among foreign sovereigns

The US Treasury is reportedly considering trading in oil futures to bring down energy costs as the war in Iran tests President Donald Trump’s affordability kick at home. Experts are pleading: Please don’t.

“This is the worst oil supply crisis in modern history,” Amos Hochstein, former US assistant secretary of state for energy resources, tells Semafor. “You can’t financial-paper-exercise your way out of it.”

Anonymous wrote:

Anonymous wrote:Down breaking below 44,000 and gas over $5 ought to scare the crap out of the GOP

Wait! Pam Bondi told us it was over 50,000!

Anonymous wrote:As Ron Filipkowski said, “A year ago we were supposed to be getting $2,000 rebate checks, DOGE was going to find $2 trillion in waste to balance the budget, we were going to pay no income taxes because tariffs would pay for everything, gas & home electric bills would be cut in half, and no new wars.”

Didn't they go out and buy Teslas to drive after Trump started shilling from them on the White House lawn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Yikes! That adds up.

It does. But hopefully it creates some pressure on Trump to end this war. A big part of MAGA lives in rural and small town America and drive enormous distances every day. And they’re not driving EVs. MAGA is feeling these prices more than anyone else is. It’s very expensive driving a lifted pick up truck every day.