Posted on 01/26/2022 10:48:12 AM PST by Hojczyk
Brent crude oil prices rose on Wednesday to $90 a barrel, as low Cushing and distillate inventories combine with supply jitters in Europe, Russia-Ukraine tensions, and falling Russian seaborne crude imports from the Baltics.
As of 11:00 a.m. EST on Wednesday, even after the weekly U.S. inventory report from the EIA showed a build in crude oil inventories, WTI Crude prices were up 1.96% at $87.27, while Brent Crude briefly hit $90, up nearly 2% on the day.
Fears that sanctions on Russia could cause a shortage of crude oil and natural gas have rattled the commodity markets in recent days.
The final upward pressure in this oil price scenario is Russia’s exports from its Baltic Sea ports, which are set to drop next month to the lowest level in five months. The concern here is that Russia is unable to ramp up crude oil output as much as its OPEC+ agreement has allowed.
(Excerpt) Read more at finance.yahoo.com ...
Brought to you by the same guy who brought you $90 oil the last time.
RUSSIA! RUSSIA! RUSSIA! ...........
is only in the news to distract us from
CHINA! CHINA! CHINA! ...................
Divide the day’s crude oil price by 42. One barrel of crude contains 42 gallons. This will tell you the dollar amount per gallon of refined gasoline attributed to crude. For example, if crude oil is $100 per barrel, then about $2.38 of the price of a gallon of gas comes from the crude price.
Divide the dollar amount per gallon of refined gas attributed to crude in half. This will give you a dollar amount that accounts for about one-third of the total price per gallon. By multiplying this amount by three, you can get an estimated price per gallon. For example: using $2.38, divide by two to get $1.19. Multiply $1.19 by three to get $3.57, an average cost per gallon of gasoline.
$3.21 plus taxes and markup at station...Florida 28 cents federal 18 cents plus sales tax 24 cents
Joe will love it
All Putin has to do to raise the price of oil is to move some troops to the Ukrainian border.
Exactly. Hunter Biden’s decrepit father dances to his tune.
when all else fails, start a war, or at least act like you’re starting a war ... what ya wanna bet that the sword-rattlers in Congress and the Covid Joe cabal went long on the oils a few days ago ....
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