To: ChicagoConservative27
Quick question. Saudi oil production has been cut 3X yet the price of oil keeps dropping. Why? Is it because the economy is that bad? Or are we simply using less oil?
To: mikelets456
Quick question. Saudi oil production has been cut 3X yet the price of oil keeps dropping. Why? Is it because the economy is that bad? Or are we simply using less oil? One reason is because the Fed is raising rates. Many things sold on the stock market and commodities market (such as oil) have prices react oppositely to the value of the dollar. Raising interest rates = dollar is worth a hair more (at least from a day trading perspective), which means the dollar can buy more oil, which means the price of oil goes down.
12 posted on
06/12/2023 6:43:40 AM PDT by
Tell It Right
(1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
To: mikelets456
Could have something to do with Team ByeDone flooding the market with oil from our Strategic Petroleum Reserves.
As I understand it, the U.S. is draining the SPR without any intention of replenishing it. THIS IS INTENTIONAL, OF COURSE so as to TRY TO FORCE us all to buy EV'S.
20 posted on
06/12/2023 6:55:24 AM PDT by
CivilWarBrewing
(Get off my back for my usage of CAPS, especially you snowflake males! MAN UP!)
To: mikelets456
In answer to your question - yes.
There is no either/or. Both conditions apply.
22 posted on
06/12/2023 6:58:47 AM PDT by
alloysteel
(Fiction has to be at least plausible, while reality obeys no such constraint.)
To: mikelets456
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