Iran has sunk oil tankers and shutting down the strait , What will oil go to Monday?

[888theGreat]

Oil will be going up , Iran is attacking everything. US economy will be hurt. Gas at $6 a gallon and prices will be higher than Biden's.

$200 a barrel

$175 a barrel

$150 a barrel

$125 A barrel

$115 a barrel

$100 a barrel

More than $200

Updates

3 mo

There are Muslum uprisings all over the world now. Ben Netanyahu is now in hiding , somewhere in the West.

Updates

3 mo

Trump worshipers complained about my question on Trump's butt lickers kids and grand kids going to fight Iran. So GAG took my question down. Poor offended babies. Truth hurts , maybe guilt.

Updates

2 mo

Markets just opened and oil is up 17% and near $110 a barrel , it could shoot to $200 a barrel in no time at this rate. Average gas price is $3.45 to 3.50 now and Diesel is going up at a higher clip faster. Groceries are going back up at a higher rate also. Well I think Trump failed at lowering prices. Remember this war didn't have to happen. Trump wanted it.

Updates

2 mo

Oil up to $119 a barrel 27% increase in less than a day.

[lightbulb27]

seems they have the ability to strike targets, and one questions how many defensive missiles we have. There's no way a country can deliver enough supply via a few ships relative to a country that has stock piled for a long time.

So it is a real risk and probable assumption.

[888theGreat]

and Iran destroyed the ports , so how do they reload? Helicopters? That would make helicopters sitting ducks to be taken out.

[lightbulb27]

yes, that's the problem. have to go long distance, so that means issues. we'll know whats true if they send more ships, go to other bases.

[888theGreat]

They have munitions in Asia they were going to use on China. They can go get those and send a ship in and unload ship to ship.

[Sevenpointfive]

putin will come to their rescue and trump will have to stop. i think the chinese not getting their oil will also be pissed. those are the 3 countries that you don't want as enemies and i think israel is just crazy enough to see how far they can push our government and its military.

[Sevenpointfive]

i can't believe that the only reason for the price going up is to fund the war. so we're paying for the war anyway.

[Sevenpointfive]

and they just sunk a thai tanker overnight, or so they say, because the article read like a warning to others and nothing more.

[Abbycado]

I can’t wait to see how they spin this one.

[douride2]

Oh sh! t there goes the price of oil eh.

[msc545]

Yes are you surprised at this?

[888theGreat]

got to $119 plus

[douride2]

@msc545 Not ay all surprised by this.

[Likes2drive]

I don’t think we’re going to see much difference, considering we produce more oil here in the USA then they do

[888theGreat]

WE CAN"T PROCESS IT DUDE. IT TAKES A LONG TIME.

[loveslongnails]

For heaven's sake, do some research:
afpm.org/.../how-much-oil-does-united-states-import-and-why

[Likes2drive]

@loveslongnails we do produce more crude than the the Middle East and get most from Canada so we shouldn’t have to worry about prices so much over here but Europe will have some issues then

[888theGreat]

Oil up to $71 a barrel. Also Dow with start down between 500 to 2000 points

[Likes2drive]

They always panic on Wall Street and mess with the numbers, I’m sure things will get crazy Monday morning on Wall Street next

[loveslongnails]

Dude, production isn't the point. Did you read the link? Obviously not.
I never said we aren't the largest oil producer in the world currently. But understand, the Saudi's can crank up the faucet any day they want and surpass us in production, IF they want to. That's why OPEC controls the price of oil, not the USA.

But again, that's not the point. The USA still has to import heavy crude to refine into ALL its petrochemical products, not just gas. Everything else, including pharmaceuticals (yes, many drugs are petrochemical based), requires heavy crude and that's what most US refineries are set up for.

Only 40% of the refineries in the USA can even PROCESS light crude, which is what's used to make gasoline. Even then, it's not always their most profitable choice. Gas prices have been low because the price of oil has been low, and the demand isn't outstripping the supply by a large margin in the USA.

But when oil prices go up, the US will still have to import the same amount of oil, and prices will rise. You may see oil production go up in the US if companies decide to reopen rigs, but that's risky business too. Even if they do, none of that oil will be used in the USA to make gas.

Europe has around 75 refineries of mixed capacities and capabilities. The European population is around 743 million, more than twice the USA, and about 40 fewer refineries. Do the math..

[888theGreat]

@loveslongnails you are correct. You 20 Billion barrels of oil , but if you can't refine it , what good is it?

[Likes2drive]

@loveslongnails I read it and realized we don’t have the same crude oil but we are not totally dependent on them but didn’t realize we don’t have the capability to refine as much, we probably will see gas go up but crazy prices, only California will have the highest prices in the USA

[loveslongnails]

Exactly. Glad you could educate yourself.

[msc545]

It isn't just about producing oil as you put it. You can drill all the oil you want but to make it usable you have to refine it and refining it costs a lot of money. You also have to transport it which incurs its own set of costs in terms of motor oil being used and the logistics of this and the safe gear factors in this are very large. If you think it's because the US has a few more oil wells you are once again yourself

[888theGreat]

Got to $119 already , soon $4.50 a gallon . The high for Biden was $5.35

[loveslongnails]

The equation is simple enough. The US produces mostly light sweet crude. They ship it out to other countries and import heavy crude because most refineries are tooled that way AND because the profit margin is about twice as much. "Drill baby drill" just means more oil is getting shipped out and oil companies make more money along with billionaires and stockholders. 'Drill baby drill" doesn't do shit to the price of gas in the USA.

[Likes2drive]

@loveslongnails I guess the USA was too cheap to build the right refineries for that purpose and now it would take years to do and too much money so we are stuck with high prices till the war is over

[loveslongnails]

It's about profit margin. This explains it REALLY well.

www.sullydawg.com/.../725d2118-b570-4d06-a513-9afcf798b1ee

[Likes2drive]

@loveslongnails it’s about money as usual

[loveslongnails]

It's rarely ever about anything else, not since WWII. Always follow the money. When confronted with what seems to be a conflicting issue, always ask "who stands to gain financially by doing "X", or by not doing "X". You'll have to dig through the bullshit, but that's where the answer will be.

[Likes2drive]

@loveslongnails Yes, very true

[BonzoInBitburg]

Oil futures opened up 7% tonight. When the US went to war with Iraq in 1990, oil prices doubled in 3 months. I would expect the same here or more since this will probably last longer because it's a regime change.

[888theGreat]

I think Iran will continue with missiles until they think they will be invaded.

[BonzoInBitburg]

China is supplying Iran with antiaircraft missiles and its in their best interest to keep this going as long as possible.

[888theGreat]

I think they are ready to go a year , but the threat of boots on the ground would scare them into a truce.

[888theGreat]

but also Americans won't support that and Trump looks like a fool. He basically promised the Navy and Air Power would be enough and Trump's approval ratings drop to 20% .

[888theGreat]

27% now

[BonzoInBitburg]

Kuwait and Bahrain declared force majeure. Qatar and UAE are expected to follow suit. They are doing this to drive prices to the moon and put pressure on Trump to end it. Every country seems to know Trump's weakness is the economy and are weaponizing it. China, Japan, EU and Canada threaten to sell US debt and spike the bond market and the middle east spikes oil prices. Spiking inflation is how the world is taking on Trump and keeping mortgage rates above 6%. No need for military action to fight back and much cheaper. Work smarter not harder.

[AviatorTom]

There has already been an increase in gas prices, but nowhere near where it was a few years ago. There is still plenty of oil from other areas.

[888theGreat]

Only because Trump has created a depression and no one needs gas during a depression

[AviatorTom]

@888thegreat You might want to check the highways...
I drove 7 hours on the Interstate yesterday and found the typical large numbers of truck and car traffic, including many camper trailers, obviously people on vacation. All of them, except for the occasional Tesla and Rivian, using gasoline or diesel fuel.

[888theGreat]

People drove cars during great depression too. They still ate food too. Point?

[888theGreat]

We will see the highest gas prices ever with Trump

[exitseven]

Yes , at 3.29 it is still a bargain compared to the over 5 dollars a gallon when Bugsy Biden was president. I still remember standing in disbelief when I saw the gas pump go over $100.

[exitseven]

it is now $65 it really will stay about the same. The strait is not shut down.

[888theGreat]

yep is being reported it is

[exitseven]

I just watcehd the news and not a mention. Just that 6 Iranian ships are at the bottom.

[888theGreat]

1) It is $119 , so wrong
2) It is shut down to everyone but China
3) Insurance now for ships is over a million each , was $250,000.

[888theGreat]

Your homeboy Trump as F'ed America

[exitseven]

This so called war will be in the mop up stage this week. Things will get back to normal and be better than ever. Remember when everyone said this same thing about the tariffs? Instead, inflation did not rise and out treasury gained hundreds of billions of dollars, the trade deficit was greatly reduced and trillions will be invested in the US for new factories.

[msc545]

Probably about $170 a barrel.

[888theGreat]

I think if this lasts 3 weeks and Strait is cut off or tankers destroyed , $300 a barrel oil

[msc545]

By tomorrow? I think it will be about $108/a barrel for Brent crude. 92.

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Prev. Close
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107.81
Day Low
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Day High
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58.40
52 Week Low
111.04
52 Week High
107.81

[888theGreat]

At this pace $300 . It has doubled in a week

[msc545]

You might be very right about this.

[msc545]

Brent crude is about $97 a barrel today, down $2.

[888theGreat]

But oil refineries are shut down , so soon oil will be reduced and the world uses a lot. Give it two weeks and it explodes. It takes months to get them repaired and online again. Plus summer is when more oil is used .

[msc545]

I don't disagree with you. I think you are completely right about this.

[msc545]

Trump is the cause of this shit. So don't complain about it if you support him.

[robocop666]

Now Russia will have more money for the war

[888theGreat]

but less drones

[Hagar88]

Now you see why Iran needs to be crushed.

[888theGreat]

They were attacked when they did nothing , so they are just defensing their kids and country

[Hagar88]

Theyve been attacking for years. Decades in fact. Israel doesn't even have a boarder with them.

[888theGreat]

Show me the proof of wars Iran started

[Hagar88]

Didn't say they started wars. I said they've been attacking for decades and funding terrorism. If the US went to war with iran everytime iran attacked wed have been at war 30 times with them or more.

Since October 2023, Iran and its proxies have conducted over 180 attacks against U. S. forces in the Middle East, resulting in several deaths and hundreds of injuries. Which are acts of war.

On 13 April 2024, Iran launched more than 300 missiles and drones towards Israel, of which Israel said it intercepted more than 99 percent. Which is an act of war.

[888theGreat]

When no oil is coming out of Middle East , oil skyrockets. That means you will be paying $6 a gallon soon.

[Anonymous]

$500, same as silver