Posted on 02/14/2021 10:14:27 PM PST by RomanSoldier19
Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a U.S. stimulus and an easing of lockdowns will buoy fuel demand provided support.
Brent crude was up $1.09, or 1.8%, at $63.52 a barrel at 0428 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020.
U.S. West Texas Intermediate (WTI) crude futures gained $1.28, or 2.2%, to $60.75 a barrel. It touched the highest since Jan. 8 last year of $60.95 earlier in the session.
Oil prices gained around 5% last week.
The Saudi-led coalition fighting in Yemen said late on Sunday it intercepted and destroyed an explosive-laden drone fired by the Iran-aligned Houthi group toward the kingdom, state TV reported, raising fears of fresh Middle East tensions.
(Excerpt) Read more at reuters.com ...
Lessee, the Houthis do what they regularly do, and oil prices jump due to increased tensions.
Righto...
There needs to be talk about middle east tensions to (1) explain the spike in energy costs as the result of something other than Biden’s ruinous executive orders and (2) to justify us kissing Iran’s butt and flying them pallets of cash again.
#6. IS that Swalswel’s Chinese spy whore destroying evidence of where they had sex?
We need to ask Swallowswell whether he did “Bang, Bang, Fang, Fang” or not. With one Red Chinese agent honeypot, you get one Leg Loll.
At least the oil producing states will be getting some good tax money out of oil/products sales. Wasted on New Mexico Louisiana but will be good for Texas and Oklahoma.
“Fracking is a danger to the air we breathe and water we drink.
The auctioning off of our land for fracking and drilling serves
only to drive profits to the few.”
With federal government officials like this, fasten your seatbelts, we're in for a rough ride.
[Oil hits 13-months highs on fears of Middle East tensions]
Great job, Democrats, supporting Chairman Jao Bai Din.
Now we can all pay more for gasoline and look forward to more wars in the Middle East!
GREAT job, Democrats! GREAT job!!!
Saw my mechanic neighbor last night. Nice guy, has done me some great favors recently.
Weird part is, he looks nothing like that. Still he knows his stuff.
I checked again. That’s definitely not him.
Gas prices where I live:
Last summer (Trump) $2.15
Now (Biden) $2.65
Thanks Uncle Joe!
Here we go again back to the old days
I recently read OPEC has 7.5M barrels per day slack between current and maximum production. These prices are driven by Saudi recently reducing their production by 1M barrels per day to throw a bone to the smaller OPEC countries who need more income. The UAE warned other countries not to increase production to take advantage of this spike.
Middle East tension created by Resident Bidet pro Iranian, pro Houthi actions.
Just few months ago, Middle East was heading toward peace, finally. Now, the new administration is instantly steering up the tensions again!
Of course the administration “wise” cutting the US production helps to “firm” the oil price for the dictators too!
“Trump’s fault.”
HA! Oil is up because of BIDEN! DUMBASS!
I remember them.
Truth
Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying.
Bullshit. Didn’t some asshole cancel a pipeline somewhere?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.