Revel in the coming higher gas prices!

[transporter]

Oil hits 2019 high above $72

LONDON (Reuters) - Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight.

Why is oil supply tight???

Prices have been supported this year by a pact reached by the Organization of the Petroleum Exporting Countries and allies, including Russia — a group known as OPEC+ — to limit their oil output by 1.2 million bpd.

Global supply has been tightened further by U.S. sanctions on OPEC members Venezuela and Iran.

Iran’s crude exports have dropped in April to their lowest daily level this year, tanker data showed and industry sources said, suggesting a drawdown in buyer interest ahead of expected further pressure from Washington.

“Buyers are shying away in view of U.S. policy uncertainty regarding waivers to import Iranian crude oil,” BNP Paribas strategist Harry Tchilinguirian told the Reuters Global Oil Forum.

I guess our inept and incompetent President will be tweeting soon about how OPEC must lower oil prices!!!

This is more of the intended consequences of the policies from a President who has no concept of market forces or geo politics...that is what happens when you get hired for a job that you are totally unqualified for.

Naturally to the 35%, higher gas prices will be the fault of dems and snowflakes...because...well because EVERYTHING is the fault of dems and snowflakes!

 

[Kyle]

I'll be too busy changing my investments to buy into american oil and gas production.

 

[RoseRed]

I'll be too busy changing my investments to buy into american oil and gas production.

You forgot to wish Steve a Good Morning.

 

[Yooper]

This is more of the intended consequences of the policies from a President who has no concept of market forces or geo politics...

Act I: You've convinced us of the error of our ways.

Act II: You present your plan, re: "market forces or geo politics."

Act III:

Oops, no Act III.

Because there was no Act II.

Or did I miss it? Would love to witness Act II. Standing by....

--- End of line (MCP)