Oil Slick Stuff

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Putin thrilled, as US Treasury eases oil sanctions on the Kremlin to allow Indian refineries to buy millions of barrels of Russian crude in an effort to cushion the market shock of Trump's war on Iran. This gives Russia the financing it needs to keep attacking Ukraine.

Nothing says “America First” like funding Russia’s war machine.
 

Bessent Says Trump 'May Unsanction' Russian Oil To Try To Bring Down Prices Amid Iran War​

Source: MEDIAite

Mar 6th, 2026, 6:30 pm

During a Friday appearance on Fox Business, Treasury Secretary Scott Bessent said President Donald Trump “may unsanction” Russian oil in an attempt to bring down skyrocketing prices amid the U.S. and Israel’s war on Iran.

Speaking with Fox Business’s Larry Kudlow, Bessent was asked to comment on rising oil prices and his announcement of “an agreement on a detailed implementation plan by President Trump to deploy maritime reinsurance, including war risk in the Gulf region.” Notably, as CNBC wrote on Friday, “U.S. crude soared 35.63% for the biggest weekly gain in the history of the futures contract dating back to 1983.”

“The world is very well supplied in oil,” said Bessent. “Yesterday, Treasury agreed to let our allies in India start buying Russian oil that was already on the water,” emphasizing that “the Indians have been very good actors” who stopped buying Russian oil upon U.S. request this past fall.

“To ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil,” he continued. “There are hundreds of millions of sanctioned barrels of crude on the water, and in essence, by unsanctioning them, Treasury can create supply. We are looking at that.”

Read more: https://www.mediaite.com/media/tv/b...il-to-try-to-bring-down-prices-amid-iran-war/
 
So we are greenlighting the sale of Russian oil, to offset the destruction we caused by starting a war involving now 14 countries.


If Putin himself were running the White House, would the actions be any different?
 
Last edited by a moderator:
James48843 said:

Bessent Says Trump 'May Unsanction' Russian Oil To Try To Bring Down Prices Amid Iran War​

Source: MEDIAite

Mar 6th, 2026, 6:30 pm

“To ease the temporary gap of oil around the world, we have given them permission to accept the Russian oil. We may unsanction other Russian oil,” he continued. “There are hundreds of millions of sanctioned barrels of crude on the water, and in essence, by unsanctioning them, Treasury can create supply. We are looking at that.”

Read more: https://www.mediaite.com/media/tv/b...il-to-try-to-bring-down-prices-amid-iran-war/
Click to expand...

Anything the upper tier of this administration says is propaganda until proven otherwise.

Fact: India never stopped buying Russian Oil
  • September 2025: ~1.5–1.8 million bpd (share ~30–35%; still high but beginning to ease post-tariff pressures).
  • October 2025: ~1.3–1.5 million bpd (share ~27–30%; declining amid sanctions enforcement).
  • November 2025: ~1.7–1.85 million bpd (share ~35%; temporary surge to six-month high before sharp drop).
  • December 2025: ~1.2–1.36 million bpd (share ~25%; 38-month low in value/volume terms).
  • January 2026: ~1.05–1.1 million bpd (share 19–21%; 44-month low, lowest since late 2022).
  • February 2026: ~1.0–1.04 million bpd (share ~20–21%; slight stabilization or minor rise m-o-m despite U.S. claims; Russia remained top supplier).
 

Oil prices top $100 per barrel as big Middle East producers cut output amid Iran war​

Source: CNBC

Published Sun, Mar 8 2026 6:03 PM EDT Updated 1 Min Ago


Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war.

West Texas Intermediate jumped 18.98%, or $17.25, to $108.15 per barrel by 6:12 p.m. ET. Global benchmark Brent advanced 16.19%, or $15.01, to $107.70. U.S. crude oil surged about 35% last week in its biggest gain in futures trading history dating back to 1983. The last time oil prices topped $100 per barrel was after Russia invaded Ukraine in 2022.

Kuwait, the fifth-biggest producer in OPEC, announced precautionary cuts Saturday to its oil production and refinery output due to "Iranian threats against safe passage of ships through the Strait of Hormuz." The state-owned Kuwait Petroleum Corporation did not detail the size of the cuts.

Output in Iraq, the second-biggest OPEC producer, has effectively collapsed. Production from its three main southern oilfields has fallen 70% to 1.3 million barrels per day, three industry officials told Reuters Sunday. Those fields produced 4.3 million bpd before Iran war.

Read more: https://www.cnbc.com/2026/03/08/crude-oil-prices-today-iran-war.html


Thar she blows!

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Pretty much gas around me gas is $3.49 a gallon. Within a 3 mile radius the lowest is $3.29 and the highest is $3.59. I'm not sure if the summer blend has been priced in yet. That always jumps the price at least $0.15 to $0.20 a gallon.
 
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