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You might want to gas up today. #5312072 01/03/20 10:19 AM
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Snagglefoot Offline OP
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Gasoline futures rose 3% today to $1.75 per gallon. Something happened in Baghdad.

Last edited by Snagglefoot; 01/03/20 10:20 AM.

If you want the job done right......do it yourself.
Re: You might want to gas up today. [Re: Snagglefoot] #5312086 01/03/20 10:31 AM
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Kestas Offline
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I thought the US is a net exporter of oil and is now immune to the instabilities in the Mideast.

Re: You might want to gas up today. [Re: Kestas] #5312092 01/03/20 10:36 AM
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Burt Offline
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Originally Posted by Kestas
I thought the US is a net exporter of oil and is now immune to the instabilities in the Mideast.


Arguably, the overall US economy is now neutral to the price of oil (please don't throw tomatoes at me!), but that doesn't mean the price of oil in the US is immune to instabilities in the Mideast. I.e. if ME oil production is curtailed, demand for US and other non-ME oil increases to fill the shortfall.

Much depends on how long and sustained any loss in production is.


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Re: You might want to gas up today. [Re: Snagglefoot] #5312093 01/03/20 10:37 AM
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mk378 Online Content
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No domestic producer is going to let their oil go for cheap on the domestic market when they could export it and get a higher price.

So there ends up being only one price regardless of where the oil is produced or consumed.

Re: You might want to gas up today. [Re: Snagglefoot] #5312100 01/03/20 10:42 AM
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splinter Offline
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I consume hydrocarbons every day. Purchase gasoline several times a week, too.

I'll get some more before 'peak oil' is upon us once again.


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Re: You might want to gas up today. [Re: pbm] #5312117 01/03/20 11:03 AM
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Interesting he’d been in and out of there lately ... and was there really close to the embassy problem

Re: You might want to gas up today. [Re: Snagglefoot] #5312150 01/03/20 11:37 AM
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The world runs on oil; it is a global market.


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Re: You might want to gas up today. [Re: Snagglefoot] #5312154 01/03/20 11:43 AM
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Donald Offline
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I will be it will be a temporary spike.


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Re: You might want to gas up today. [Re: Snagglefoot] #5312172 01/03/20 12:03 PM
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Fuel prices here per gallon jumped about ten to twelve cents late last evening.


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Re: You might want to gas up today. [Re: Snagglefoot] #5312173 01/03/20 12:04 PM
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02SE Offline
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Originally Posted by Snagglefoot
Something happened in Baghdad.


One less terrorist.

Re: You might want to gas up today. [Re: 02SE] #5312176 01/03/20 12:10 PM
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Originally Posted by 02SE
Originally Posted by Snagglefoot
Something happened in Baghdad.


One less terrorist.

...ah, yes -- that.


2020 Kia Soul LX, 2.0L Atkinson-cycle I-4 (Nu)
Valvoline Advanced Synthetic 5W30, OEM Filter
Re: You might want to gas up today. [Re: Snagglefoot] #5312191 01/03/20 12:33 PM
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Kira Offline
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A faint suggestion of "lock" is in the air.

Re: You might want to gas up today. [Re: Kira] #5312210 01/03/20 01:06 PM
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Originally Posted by Kira
A faint suggestion of "lock" is in the air.


Yeah, but nobody said anything yet.

I think there's excess capacity, I think output was cut recently. So if there's any real issues, output can just increase again. Plus I think output from shale is down due to low prices so if it stays up for long, it will probably increase again.

Just a temporary gut reaction. Still the original premise might still be considered good advice.

Re: You might want to gas up today. [Re: Snagglefoot] #5312216 01/03/20 01:13 PM
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The reality doesn't matter to the oil companies, they use any & all excuses to raise the price of oil... Hark a sparrow f*arted in (you pick where) price of oil will go up.

Last edited by Pelican; 01/03/20 01:13 PM.
Re: You might want to gas up today. [Re: Donald] #5312220 01/03/20 01:15 PM
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MrMoody Offline
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Originally Posted by Donald
I will be it will be a temporary spike.

Yes, current demand doesn't support prices much higher than they are now, in fact they should be going down for the next month or so. It would take a fairly major disruption to turn them the other way for very long.

Of course distributors and stations love to play speculator when this kind of news comes out, so you get an immediate but temporary .10 hit, plus prices are still up some from the holiday. You'd be better off to wait a week to fill up if you can.


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