Posted on 01/27/2016 12:24:17 PM PST by bananaman22
Oil prices surged by midday on Wednesday on comments from Russian officials hinting at possible coordination with OPEC on production cuts in an effort to arrest the decline in prices.
The day didn’t start off on such a positive note. The EIA reported a massive increase in oil storage levels – a jump of 8.4 million barrels last week. Inventories are at their highest levels in at least 80 years. That pushed oil prices down in early trading on Wednesday.
(Excerpt) Read more at oilprice.com ...
If we’re not full up, we should be. Un fact, I’d say we need some storage facilities up north.
$1.37/gal in Middle TN. Filled my tank for less than $14.
Oil at about $31.50 is hardly a surge. It’ll drop back down within a week.
It would be more like Obama to order sales from the Strategic Reserve at record low prices. "If it's bad for the US..."
That’s a joke considering the Saudis run OPEC and they and the Russians are at war over Syria. Someone’s wishing out loud.
Iran has more clout than people give them credit for.
When it gets to $45.00 wells in the shale plays can get going again.
Very good point.
[[$1.37/gal in Middle TN]]
Still $2.27 here
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