Posted on 03/27/2022 6:11:08 PM PDT by Hojczyk
SYDNEY (Reuters) - Asian shares stalled and oil prices slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.
China's financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.
The spread of restrictions in the world's biggest oil importer saw Brent skid $3.68 to $116.97, while U.S. crude fell $3.30 to $110.60. [O/R]
Risk sentiment was helped by hopes of progress in Russian-Ukranian peace talks to be held in Turkey this week after President Volodymyr Zelenskiy said Ukraine was prepared to discuss adopting a neutral status as part of a deal.
(Excerpt) Read more at finance.yahoo.com ...
Joe can blame China now
Needs to skid back to around $50.00 +/- per keg.
Realisticall 55$ per barrel is more like it for new wells;
https://www.statista.com/statistics/748207/breakeven-prices-for-us-oil-producers-by-oilfield/
It costs what it costs to get it out of the ground.
But $2.75 per gallon is a lot better than what Brandon is
pushing it to.
FJB and those who support people like him.
My gut feeling is that China is helping Joe by declaring a fake coronavirus out brake to halt production of stuff to the USA to help crash the economy of the USA, and also Joe can some how use this fake coronavirus outbreak to create a fake coronavirus outbreak in the USA, it will be the same old stuff that will end up with mail in ballets etc, and an even more liberal Supreme Court to stop any challenges to the next stolen election. God help us.
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