Posted on 07/12/2016 1:24:34 PM PDT by bananaman22
Oil prices showed weakness on Monday once again after a brutal few days last week. But WTI and Brent moved up in early trading hours on Tuesday. Several news items overnight pushed oil up on Tuesday, including a falling U.S. dollar, a ruling from an international court on the South China Sea (more below), news that an ExxonMobil well was attacked in the Niger Delta (something which Exxon denies), and reports that some oil exports were delayed from Iraq because of a pipeline leak. The markets are awaiting crude inventory estimates from API later today, which could move prices.
(Excerpt) Read more at oilprice.com ...
The yen is falling faster than the dollar; the reasons are more likely to do with world tension (Nigeria, South Sudan, Philippines/China brouhaha) than with currencies.
The big muckitie mucks can blame it on what ever high falutin thing they want...but joe six pack in the street like me ...see’s this happen everytime gasoline prices get down to two bucks a gallon...( NE Florida where i live is 2.03 today) so then they zoom back up...So you can take your China sea Phillipine thing...or the dollar going down or the the Brexit..but until somebody can explain whats wrong with gas below 2 bucks a gallon an why can’t it go there again..its all futile...get it? LOL!
Freegards
LEX
Now that they have seriously disrupted the American domestic oil production market, they are driving the prices back up again.
Basic Monopoly/Cartel behavior 101.
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