Posted on 06/23/2025 1:56:56 PM PDT by NoLibZone
U.S. oil prices retreated from weekly highs as markets assessed the potential for a reprieve in Middle East turmoil following a week of escalating tensions.
The U.S. crude oil price benchmark, West Texas Intermediate, fell 8% to less than $68 a barrel, the lowest level since mid-June. The global Brent crude price benchmark likewise fell about 8%. Major stock indexes ended the day in positive territory.
Just after 1 p.m. Monday, Iran said it had launched missiles toward a U.S. base in Qatar. Reports suggested the missiles had been intercepted.
Markets viewed the strikes "as more of a symbolic retaliatory attack rather than one to result in significant damage to USA assets in the region," said Andy Lipow, president of Andy Lipow Associates energy consultancy and an oil markets expert, in an email to NBC News.
As a result, he said, oil markets have begun selling off, since it appears shutting down marine traffic through the Strait of Hormuz, a chokepoint in the Persian Gulf through which about one-fifth of the world’s oil supply travels, will not figure into Iran's retaliatory measures.
It also sets up the possibility for a diplomatic resolution to the conflict, which first heated up last week following Israeli strikes on Iranian targets, Lipow said.
(Excerpt) Read more at nbcnews.com ...
Panicans should live in shame.
Panican is the term of the year, seen so much of them constantly.
It’s a bit distressing to see how everyone panics so hard over everything, but I assume it’s just media reaction.
The left already has this built-in, just go bonkers over everything DJT does constantly good or bad, so the sheep bray.
The ENTIRE rise in crude oil prices from the Israeli and U.S. attacks on Iran has now been erased. WINNING!
My 92 year old mother was bouncing off the walls Saturday because the media was giving their wild stupidities to anyone that would take them. And she was one of them.
My dad’s been getting that way, listening to these MSM leftists and getting on me on nonsense. A lot of older boomers and beyond are getting brainwashed.
Those under 40 aren’t buying it at all, which is odd because usually the left narrative has worked on the younger dumb, now it’s the older dumb going for it.
A few days ago, gasoline jumped 30 cents overnight at my favorite station in PA.
My sell trigger for my oil stocks was when WTI surpassed 77 a barrel. Of course it did on Juneteenth when the markets were closed. Ugh 😩
Oil prices are always moving up and down. What will matter more than daily price over time:
Oil is selling at 15 times earnings, the S+P500 is selling at 23 times earnings.
DJT……cant have it both ways……drill baby drill with falling oil prices.
WHAT IS THE CURRENT STATUS OF THE KEYSTONE PIPELINE
But... but... but... They said they were going to close the strait... Apparently... Nobody believes them. That’s haw incompetent and ineffectual the Iranians are... Amazing how weak they are when they don’t have that old nuke program to scare everybody with.
Time to fill the reserve...
Never to rise again...
LOL whoever thinks they can predict commodity prices ...
“Time to fill the reserve...”
.
And pass ironclad law preventing the (heaven help us) next prog or proglet prez from using it as their private ATM.
.
The price I posted is not predicted.
What will the Ceasefire do to the markets tonight and tomorrow? I can’t wait!
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