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