Posted on 01/07/2020 4:59:05 PM PST by Bruiser 10
Despite war hysteria coming from mostly Democrats, the markets appear to be taking things in stride. Stocks were up on Monday, slightly down on Tuesday while gold and T-bills -- considered safe haven for investors -- have begun falling after an initial spike following the attack that killed Qasem Suleimani.
But what about oil? If we're on the brink of war with Iran, shouldn't we be seeing $100 bbl oil?
The fact is, investors and analysts have already factored in increased tensions between the U.S. and Iran and are dismissing talk of "World War III." Nor do they think Iran is stupid enough to take action that would choke off tanker traffic through the the Straits of Hormuz, through which 18 million bbls of oil move every day.
(Excerpt) Read more at pjmedia.com ...
Thank Trump and your local fracker.
It has come down here, too, and I thought we were not dependent on other countries for oil so I don’t see how prices would go up here. Maybe I am wrong.
Even if prices go up I think we’ll at least be able to get fuel as opposed to the seventies and eighties.
Because of the sanctions. They weren’t selling oil anyway.
Texas and other states will get economic boost if oil goes up.
We used to be so dependent on the Arab states in the 1970s and 1980s it was a crime.
Now we don’t have to give a frack.
If there are hostilities, prices will bump up for a few days or a couple of weeks. However, it won’t last for two reasons. First, because we are producing oil like crazy here in the states. ‘MARY style is not as big of a deal as it was years ago. Second, the hostilities will be over very quickly.
Gasoline is down $.07 from last week.
Our local station went up 2¢ today between 11 AM and 1 PM. That’s just the normal weekly “catch them unaware” gouge.
Uh, “Mideast oil...”
Damned phone doesn’t understand English.
Correction.. 21¢
Our gas went from 2015 yesterday to 2,50 today here in Missouri.
It’s a globally traded commodity.
In Reno I have not seen prices much below $3.50 since Bush
In new orleans this week and it is $2.15
we’ve been doing record exports of oil the last couple years.
Over the weekend News reporters were saying that the price of gas is going to increase core” because of holidays consumption and the impending war. We are a net exporter they are just trying to hike the price. And right now I have not seen a price increase and that goes all the way back to what I was paying in November. $2.09 a gallon.
frack and awe
It is because we are more energy independent than..what, the fifties or sixties?
I suppose I could go look...:)
It will go up after tonight and when we hit Iran back.
Fracking.
b/c the USA is oil-independent.
Since that was the reason for creating the DOE, we should shutter that sucker. We can even give the employees “participation trophies” saying “We did it!” or something equally banal and life-affirming.
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