Posted on 04/07/2016 1:24:05 AM PDT by Mr Apple
Oil climbed after U.S. crude inventories unexpectedly dropped from the highest level in more than eight decades.
(Excerpt) Read more at investors.com ...
fyi
Where’s it going to go now?
fyi
You have to wonder why are they trying to artificially raise the price of oil?
What are they anticipating?
Could be an omen.
The anticipation is bankruptcy of the US Oil & Gas industry. A lot of geologist, geophysicists and engineers are losing their jobs, and the companies themselves are just trying to survive.
Also, a lot of long-lead time projects are being put on hold or abandoned, so when the price of oil eventually catches up with demand, it will be too late in the day and prices will spike on the high-side.
“There goes the $20 fillup.”
What do you drive? Must be powered by Briggs and Stratton....
Just about any small car with a 13 gallon gas tank.
Here in Alabama we’re around $1.80 a gallon. I’d say it will go up to $2.30 by summer.
We’re at $1.95 here in NC.
Oil climbed after U.S. crude inventories unexpectedly dropped from the highest level in more than eight decades.
First off, I didn’t read the rest of the article. But the first thing that went through my mind was that one of three things was happening here.
The inventory numbers have been ‘manipulated’ and now the real truth is coming out, possibly because of an audit.
Secondly, ‘someone’ has been selling the oil out of the inventories and has not been reporting that. Leading to ripping off, investors, oil royalty owners, the government through non-payment of taxes, etc. And if so has made a ginormous profit.
Or possibly more crude oil is being sold to countries out of the U.S. thus depleting the inventory in a way that hasn’t been accounted for in decades.
The “Summer Driving Season” is almost here. Of course they’re going to raise prices at the pump. Happens every year.
T. Boone Pickens warned this would happen 3 or 4 months ago. My brother listened and loaded up on energy.
Good. I own a lot of energy stocks.
Who is trying to artificially raise the price of oil?
2.25 a gallon here in SW Pennsylvania. We have lots of taxes.
The $20 fillup lasted less than a week here.
A week later, it was up to $35 to fillup. Yesterday I spent just over $60. 20 gallons of gas.
Right you are. Here in Washington County PA. lots of gas wells are idle. The hotels and RV parks in the area that were filled lost a lot of their business. Lots of rig workers went back to Texas & Louisiana. The truck traffic by my house is way down from last year. I know guys who leased land to gas drillers. These guys would rent pastures and fence them and raise cattle. There are no cattle by my house this year too. Its all trickling down.
Here in S.W. Missouri we’re still at $1.69
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