they can charge as much as they want, but when people can't afford to drive, then what? i hope they all lose their collective asses...
Posted on 02/24/2021 2:55:18 PM PST by AAABEST
Brent Crude prices could hit $70 a barrel in the second quarter of 2021, while they are set to average $60 this year, Bank of America said this week, raising its average price outlook by $10 a barrel from its previous projection.
Echoing Bank of America, Morgan Stanley also sees Brent touching the $70 mark this year, but a bit later - in the third quarter, expecting “a much-improved market,” including on the demand side.
On Sunday, Goldman Sachs started the investment banks’ upgrades of oil price forecasts, expecting Brent Crude prices to hit $75 a barrel in the third quarter this year, on the back of faster market rebalancing, lower expected inventories, and traders hedging against inflation.
But those forecasts all pale in comparison to Azerbaijan’s Socar Trading SA predicts global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential spikes above $100 over the next few years on improving fundamentals and global stimulus.
(Excerpt) Read more at oilprice.com ...
It's also a result of our leaders recklessly raiding our treasury, which can only lead to a significant devaluation of the dollar - which oil is a hedge against.
Glad I bought a bunch. Up like 10% in the last week - it'll help offset the horrific gas prices coming our way.
I think there's still a lot of headroom for people who haven't gotten in yet.
I hate to invest with SCUM like Goldman, Morgan and BOA, but if they’re singing in unison like this - it’s probably coming.
How comes it to be that you list yourself as the author of this material?
I prefer the old term ‘speculators’.
Exactly. The rise in oil prices has nothing to do with the recent WEEK LONG winter storm, it has everything to do with the dementia-ridden dumbass’ policies that significantly and aversely impact the supply.
Thank you for pointing that out HG...seriously. The FR auto-fill got me.
Don’t blame the freeze. Blame Biden.....
Bad news for fuel prices. Good news for my long suffering Exxon stock.
I bet that Texas already has there production capability back near 100%. That is not why the price of oil is going to shoot up. That is only what they want you to think. The real problem is Biden.
I bought $20K Marathon Petrol 5 months ago......It has doubled in value as of today.
When I bought it told my wife it was a no brainer, oil stocks were very undervalued. Love it when I’m dead right!
bite en ...cover.
Thieves.
Pipeline people should have kept on going anyway.
But, but, but... frozen windmills and snow/ice laden solar panels will save us! </bullshit>
Good thing Democrat Resident Biden canceled Keystone XL!
Thanks, Democrats; thanks for higher oil prices!
Great job, Democrats!
“However, as Bloomberg notes, these forecasts for $100 are far from the current consensus.”
they can charge as much as they want, but when people can't afford to drive, then what? i hope they all lose their collective asses...
He’s going to cancel a few more, too. KXL was just a tune-up for what’s in store for America.
Here in Dayton,OH, pricing for regular is hovering near $2.50
Link to website that provides price updates for your area.
Democrat do an awesome job of destroying the nation.
Great job once again, Democrats!
We really thank you for higher oil prices!
Well, that may be sarcasm...
Democrat do an awesome job of destroying the nation.
Great job once again, Democrats!
We really thank you for higher oil prices!
Well, that may be sarcasm...
I use 90oct ethanol-free has in my Jeep Grand Cherokee HEMI V8, and it’s gone from $2.75/gal to $3.95/gal in just 2 weeks. I can foresee $6.00/gal-PLUS within 3-4mos. Swell.
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