Oil Slick Stuff

[nasa1974]

I thought oil was dropping in price per barrel? The gas station down the street was $3.19/gal at 1pm. I drove by again at 2:30 and it was $3.29. The cheapest gas is 3.8 miles away at $2.59/gal. I'll drive 8 miles round trip to save .70/gal. My truck has a 36 gallon tank.

 

[tsptalk]

Oil is making a move this morning. Double bottom, or will resistance hold?

 

[tsptalk]

U.S. oil production has likely peaked and will start to decline due to price plunge, Diamondback CEO warns

Diamondback Energy expects U.S. oil production to peak and then decline this year due to low prices.

CEO Travis Stice warned that falling production threatens jobs, GDP growth, the nation’s trade balance and U.S. energy security.

https://www.cnbc.com/2025/05/06/us-oil-production-will-start-to-decline-due-to-price-plunge-diamondback-ceo-warns.html

 

[tsptalk]

I've hijacked Nnuut's oil thread.

Missing you, Norm!

 

[nasa1974]

I've hijacked Nnuut's oil thread.

Missing you, Norm!

Ditto.
I don't think he will mind.
Around here between $3.19 and $3.29. Hard to keep track though. The Speedway near me might be $3.29 when I pass in the morning and a couple hours later it's down to $3.05.

 

[nasa1974]

I don't know why this still amazes me. Yesterday the Speedway around the corner had gas at $2.83 and it took about 3 weeks to get there. This morning it was $3.19 in less than 24 hours. smh.

 

[weatherweenie]

I don't know why this still amazes me. Yesterday the Speedway around the corner had gas at $2.83 and it took about 3 weeks to get there. This morning it was $3.19 in less than 24 hours. smh.

A local station raised their gas prices 40 cents/gallon, on Wednesday.

 

[James48843]

Wow. Israel doing MAJOR damage to Irans oil and gas industry today. Knocked out 10 million liters per day refinery capacity in and around Tehran, and destroyed a major gas field in the south.

This will impact oil production and exports.
Price worldwide will be hit on Monday.

Israeli jets strike Tehran, oil fields as PM vows to 'hit every target' in Iran's regime | The Times of Israel

www.timesofisrael.com

 

[nasa1974]

Wow. Israel doing MAJOR damage to Irans oil and gas industry today. Knocked out 10 million liters per day refinery capacity in and around Tehran, and destroyed a major gas field in the south.

This will impact oil production and exports.
Price worldwide will be hit on Monday.

Israeli jets strike Tehran, oil fields as PM vows to 'hit every target' in Iran's regime | The Times of Israel

www.timesofisrael.com

Buckle up buttercup we are in for some smack down.

 

[rangerray]

I thought I heard that about 90% of Irans oil exports go to China? I’m too tired to look it up.


Sent from my iPhone using Tapatalk

 

[nasa1974]

I thought I heard that about 90% of Irans oil exports go to China? I’m too tired to look it up.


Sent from my iPhone using Tapatalk

Could very well be. But it will still rattle the market. I hope not too much.

 

[tsptalk]

Oil prices fall more than 4% on report Iran wants to end hostilities with Israel

U.S. crude oil was last down $3.51, or 4.81%, to $69.47 per barrel by 10:33 a.m. E T., while global benchmark Brent
fell $3.40, or 4.7%, to $70.74. One barrel contains 42 gallons.

https://www.cnbc.com/2025/06/15/oil-prices-jump-after-israel-strikes-energy-facilities-in-iran.html

 

[tsptalk]

Oil prices fall more than 4% on report Iran wants to end hostilities with Israel

So gas prices should come right back down, no?

 

[nasa1974]

I don't know why this still amazes me. Yesterday the Speedway around the corner had gas at $2.83 and it took about 3 weeks to get there. This morning it was $3.19 in less than 24 hours. smh.

I can't keep up. Yesterday $3.19 today $2.83. I wonder if they tried to grab weekend driving.

 

[James48843]

Three ships are burning in the Strait of Hormuz. Little details yet.

More details coming in on the 3 ships on fire in the Gulf of Oman near strait of Hormuz | Forexlive

Reportedly on fire at the Khor Fakkan anchorage near Fujairah, off the coast of the UAE.

www.forexlive.com

 

[James48843]

Goldman Sachs says oil shortage from Iran could be raising prices - expected at $90.

Iran says it is closing the Strait of Hormuz, and says any country being used by U.S. forces for attacks is now a legitimate military target.

Are we having fun yet?

Who wants to bet on oil price today ?

Iran threatens US bases in response to strikes on nuclear sites

Iran on Sunday threatened US bases in the Middle East after massive air strikes that Washington said had destroyed Tehran's nuclear program, though some officials cautioned that the extent of damage was unclear.International concern intensified that the unprecedented US attacks would deepen...

www.yahoo.com

 

[nasa1974]

Goldman Sachs says oil shortage from Iran could be raising prices - expected at $90.

Iran says it is closing the Strait of Hormuz, and says any country being used by U.S. forces for attacks is now a legitimate military target.

Are we having fun yet?

Who wants to bet on oil price today ?

Iran threatens US bases in response to strikes on nuclear sites

Iran on Sunday threatened US bases in the Middle East after massive air strikes that Washington said had destroyed Tehran's nuclear program, though some officials cautioned that the extent of damage was unclear.International concern intensified that the unprecedented US attacks would deepen...

www.yahoo.com

No idea on oil but gas around me was $3.19/gal. I bet that goes up tomorrow.

 

[tsptalk]

Iran says it is closing the Strait of Hormuz

I can't verify this, but read that oil from the Hormuz Strait supplies...

5% of America's total oil supply
50% of China's total oil supply