Oil news not good today

[Mackelroy]

Gas stations seem to never let a crisis go to waste. The gas in the ground is already bought and paid for. The price increase should come with the next load a day or so after bad news breaks, not rise immedately upon breaking news.

Price gouging at its finest, and alot of gas stations in the U.S. are owned by Iranians.

 

[Mackelroy]

I predict the near term effects of the current middle eastern situation will be short lived. Things will go back to normal as soon as the US Navy and Air Force are done with their little project. A certain adversarial country currently has no surface ships left, no air force, no air defences to speak of and a big shortage of leaders.

Yet they have stated straight of Hormus is closed.

Ba HA HA!

running their mouth even in the face of destruction is not new to them

 

[ripcord]

Yet they have stated straight of Hormus is closed.

Ba HA HA!

Not for long

 

[ripcord]

Price gouging at its finest, and alot of gas stations in the U.S. are owned by Iranians.

Refined fuel is also a commodity that trades on a market just like crude, with futures, options, and all that, so the wholesale price of gas bounces around a lot. That price increase you see at the pump isn't all going into the gas station owner's pocket. There's plenty of hands in the proverbial cookie jar.

 

[4wd]

I predict the near term effects of the current middle eastern situation will be short lived. Things will go back to normal as soon as the US Navy and Air Force are done with their little project. A certain adversarial country currently has no surface ships left, no air force, no air defences to speak of and a big shortage of leaders.

The main loser will be China who will have to play full price for crude going forward.

This is a good point - these guys do too many dirty deeds done dirt cheap - yet were given the WTO nod …
(oil for infrastructure leaves no cash in the economy)

 

[JeffKeryk]

Or was it "RoastedRadials?"

After Lars Grimsrud rebuilt the Roach Q-Jet for me, 2nd gear under torque just might get you sideways. And that's with the aftermarket 16x8 Chrome Ralley Wheels and 255/50/16 Comp TAs.

 

[ripcord]

After Lars Grimsrud rebuilt the Roach Q-Jet for me, 2nd gear under torque just might get you sideways. And that's with the aftermarket 16x8 Chrome Ralley Wheels and 255/50/16 Comp TAs.

Cool car, but your Tesla probably doesn't lose to it by very much, if at all.

 

[JeffKeryk]

Cool car, but your Tesla probably doesn't lose to it by very much, if at all.

The '68 Corvette L36 427 with wide ratio 4 speed and 3:36 rear is probably a high 5 to low 6 second 0-60 car, and high 13 - low 14 second quarter at about 100 mph.

The '24 M3P is a 2.9 second 0-60 and high 10 second at 125 MPH quarter mile car. You need a new Corvette to run those times.

They each have their place. The Tesla runs supercar times. The sound of the 427 through the turbo mufflers is pure heaven.

 

[SammyChevelleTypeS3]

The bad news is, the economy was tanking here already, only tax refunds were starting to bring it back... Now, "He's dead, Jim"...

TRUE. We are all (most of us peons anyway) simply along for the ride. Hang on.......... it can get bumpy. Just hope someone can keep it between the ditches.

 

[loneryder]

Drove up to Wisconsin last week. Driving home later this week. Going to be interesting seeing the price of gas on the way home. It's amazing how one country farts passes gas and the prices go up around the world overnight.

Just drove up from FL and last night QT 93 octane was 3.37 in SC. This am it was 3.79.

 

[Snagglefoot]

Here is the West Texas Intermediate (WTI) trade chart. Traders got to trade. Mods, wanted to show an actual trade chart for effect.

 

[Snagglefoot]

Refined fuel is also a commodity that trades on a market just like crude, with futures, options, and all that, so the wholesale price of gas bounces around a lot. That price increase you see at the pump isn't all going into the gas station owner's pocket. There's plenty of hands in the proverbial cookie jar.

Here is today’s traded price of gasoline. Mods I did a screen shot to represent the actual price.

 

[gfh77665]

My wealth management company who I trust sent out an advisory that they do NOT expect long term issues. A spike for weeks or even a few months is possible, but likely short lived and could bring in more stability into the region soon.

They are strongly advising against any knee jerk reactions. We will be fine, or even better than fine in the months to come.

 

[Lubener]

EV owners bragging how they are not affected by crude oil prices.

They pay in many other ways. In Ohio, their license tags are more and they pay for the high electricity costs.

 

[97prizm]

Plastered all over the news stating oil went up 10% today 3/2/26 and 'could' spike to $100 a barrel. Just how much of our oil comes from the middle east region in turmoil? Remember, no politics, just oil price talk. Thanks.

None of our oil comes from Iran directly. This is a knee-jerk reaction that isn't needed. This happened a few months ago when we hit a couple of their facilities. Instant .50 cent increase then back down.

 

[97prizm]

I got a non surprise earlier when they were speaking about China and their energy needs. Apparently many THINK China is all in on the Green New World some are praying for while China is in on it alright. They are making and selling all sorts of green energy equipment they not only do not believe in nor have any inclination to use any time soon. They want everyone else buying that stuff while they go on using all the other fuels. Good guys with great intentions I am sure. NO WAY would I step foot in China as a delegate from any country these days let alone Russia.

A guy I knew in high school was over in China for several years teaching English. I'd hope he'd get out. I used to see his mom in the grocery store on occasion.

 

[joekingcorvette]

I can drive the Maverick and Rav4 hybrid more instead of the gas guzzling F-150. The Corvette actually gets great mileage on the highway usually around 28 MPG. When I drive to Chamberlain to go fishing which is a 300 or mile round trip plus pulling the boat 6 to 50 miles is when I really pay for the gas. I hope this pending gas hike is short term however I have to question if it will really be short term.

 

[shortyb]

So far the Murphys are keeping the QTs in check around my area and preventing a runaway on prices. Saber rattling the other day caused QT owners to soil themselves and prices INSTANTLY went up from $2.55 to $2.89 within an hour of the announcement of conflict. Murphys has been holding at $2.62. For now.

We won't talk about Piedmont or Duke (NG and E). I'm feeling very violated .

 

[Pablo]

They pay in many other ways. In Ohio, their license tags are more and they pay for the high electricity costs.

We all pay higher electricity costs

https://mybellinghamnow.com/news/29...increase-plan-for-electric-gas-bills-by-2029/

 

[Oldwolf]

Gas stations seem to never let a crisis go to waste. The gas in the ground is already bought and paid for. The price increase should come with the next load a day or so after bad news breaks, not rise immedately upon breaking news.

Would you sell your stuff at yesterday's lower price or at today's higher price? Conversely, if prices are falling you'll never sell your product at the older higher price. You've got to lower it.