Posted on 10/11/2023 8:23:07 PM PDT by aperez77
Prices at the pump remain on track to keep falling in the United States despite the Israel-Hamas war, according to energy industry analysts.
After Hamas’ surprise attack over the weekend, global crude oil jumped to more than $87 a barrel by Monday, from below $83 late last week — roughly a 5% increase. Prices have since retreated, clocking in at $83.62 Wednesday morning.
But Israel and its immediate neighbors aren’t major energy producers, so as long as the conflict doesn’t expand geographically, seasonal trends should continue much as they have for the last few weeks, said Tom Kloza, global head of energy analysis at the Oil Price Information Service.
“On balance, we’re looking at gasoline prices dropping in all 50 states,” he said.
(Excerpt) Read more at nbcnews.com ...
Until Iran gets hit and starts a Persian Gulf tanker war, or until Iran decides to jump in if they think Gaza is getting hit too hard.
Lost of ways Iran could screw it up and make the straits of Hormuz suck for tankers.
Then there would be a price spike. Especially since President retard drained the Strategic Petroleum Oil Reserve.
analysts can “say” all they want, but SHEL has gone up by over 6% since the mideast war started ...
The strategic petroleum reserve is not emptied. It has 351 million barrels left. Biden used 182 million barrels.
Southern Pennsylvania holding steady but Maryland plummeting...42 ti 50 cent/gallon differential now.
Gas prices have gone down since the attack. Every day.
“Famous Last Words”
Biden greenlighted Iran oil exports...
Biden greenlighted Iran oil exports to China... and because Iran wants the US to elect a Democrat, they are going to put as mugh oil as possible on the market for China, etc to buy, keeping prices down.
Mwdia’s experts are wrong about 99% of the time, so I anticipate gas prices to go up
As OPEC and Russia cut 1.5m bpd to years end. Gotcha.
Oh, okay, because Israel and surrounding countries aren't major oil producers, prices won't rise. Are you out of your ever-lovin' mind? What do you think Saudi Arabia, Qatar, Iran, et. al. will do as follow-on action? What is different now than in 1973? China/Iran Joe singlehandedly killed our energy independence giving the Islamists leverage they didn't have prior to January 2021. This whole article stinks on ice.
Yeah sure...
“War in Israel looks unlikely to drive up U.S. energy prices, analysts say”
Which means it will.
Because speculation.
A lot of non geo political experts in the stock trading business.
I saw several friends discussing they were buying oil stocks. Just the run on oil stocks could drive up stock price, no?
But that doesn’t mean it translates to price at the pump.... or maybe I’m wrong. Maybe someone who knows can enlighten me if I am.
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