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Dinar4Dinner

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  1. You can still get parts for your DeLorean Time Machine! Go to the O’Reilly Auto Parts website - https://www.oreillyauto.com/ 11 and enter 121G in the search box.
  2. U.S. Oil Prices Hit 7 Year High U.S. oil prices surged to a seven-year high last Thursday, rising to more than $90 a barrel, and this could be bad news for the fight against the climate crisis. The surge comes a little less than two years after oil prices dipped below zero for the first time during the beginning of the coronavirus pandemic, when supply outstripped demand. However, since then demand has risen while producers have worked to moderate supply, as CNBC explained. “The oil market is so tight that any shock to production is going to send prices soaring,” foreign-exchange company Oanda’s Ed Moya told CNBC. “OPEC+ production is on cruise control with their gradual increase strategy, which means oil seems like it’s going to make a run towards $100 oil pretty soon.” Right now, one shock to production is the extreme weather event that has brought cold and snow to oil-producing regions in the U.S. “The latest upswing was triggered by a cold snap in Texas, which is fueling concerns about production outages in the Permian Basin, the largest U.S. shale play. A year ago, a period of extreme cold weather had caused massive disruptions to oil production there,” Commerzbank commodity analyst Carsten Fritsch said in a note to clients reported by MarketWatch. The winter storm has knocked out power to 350,000 homes and businesses in states including Texas, Tennessee and Arkansas, and more precipitation and ice is forecast for the eastern U.S. last Friday. Another factor in the surging oil prices are worries over tension between Russia and the Ukraine, as well as instability in the Middle East, CNBC reported. Finally, OPEC+ said last Wednesday it would not increase production to meet demand, but would instead stick to its original plan of upping production by 400,000 barrels a day, as CNN reported. The rebound in oil prices is another example of how the falling energy use of the initial lockdown period has not yet eased a transition to a renewable energy economy. U.S. greenhouse gas emissions rose 6.2 percent in 2021 compared to 2020 levels, for example, rising faster than the economy rebounded. And the economic rebound means that global coal demand has risen to record levels, The New York Times reported. High oil prices might mean that production increases after global investments in oil and gas projects fell by 30 percent in response to the pandemic. ExxonMobil said last Tuesday it would up its spending on new wells and other projects by as much as 45 percent. However, it’s also possible that high oil prices might drive consumers away from fossil fuels when possible, prompting them to purchase electric vehicles, for example. https://www.ecowatch.com/us-oil-price-surge.html
  3. Oil could break the stock market’s back if crude ‘goes parabolic’ — How to prepare https://apple.news/AtIaM_6ywQtiS8kOC77l8_Q Oil futures are trading at seven-year highs, adding to jitters around a teetering stock market, and investors should be prepared for the possibility of a further surge to the upside, one chart watcher warned on Wednesday. “Oil could be what breaks the market’s back if it goes parabolic here. Watch out, but also make sure you have exposure to oil in case it does happen,” wrote technical analyst Andrew Adams in a note for Saut Strategy. West Texas Intermediate crude, the U.S. benchmark, has blown through price resistance levels that Adams said he had previously expected to give it some trouble. “When resistance is completely ignored, there’s usually a good chance an asset is going higher, but now there is a heavier resistance area around $85 where it stalled out late last year before dropping more than $20,” Adams said. “Above there, I don’t see much resistance at all until closer to $95 and by that time we could see some real fear about oil prices weighing on consumers that are already dealing with higher prices everywhere else. “Higher oil prices should continue to help the oil companies, but it also raises costs on many other industries and could further harm margins,” he wrote. WTI pushed well above the $85 level in Wednesday’s session. The front-month February contract CL.1 CLG22 rose 1.8% to close at $86.96. on the New York Mercantile Exchange, its highest close since Oct. 8, 2014. See: Oil builds on its highest price in more than 7 years as supply worries persist March Brent crude BRN00 BRNH22, the global benchmark, closed at $88.44 a barrel, a gain of 1.1%, on ICE Futures Europe, for its highest settlement since Oct. 13, 2014. WTI is up nearly 16% so far in the new year, while Brent has rallied 13.7%. Stocks, meanwhile, have stumbled to begin the new year as Treasury yields have surged, a move attributed largely to expectations the Federal Reserve will be much more aggressive than previously expected in raising interest rates and otherwise tightening monetary policy this year. In One Chart: Stock-market warning signal: Here’s what surging bond yields say about S&P 500 returns in next 6 months Treasury yields stabilized on Wednesday, but stocks remained under pressure, with the tech-heavy Nasdaq Composite COMP entering correction territory, defined as a drop of 10% from a recent peak. The Nasdaq is down 8.3% since the turn of the year, while the Dow Jones Industrial Average DJIA has dropped 3.6% and the S&P 500 SPX is down 2.8%. Read: The Nasdaq Composite just logged its 66th correction since 1971—here’s what history says happens next in the stock market Energy, however, has remained a bright spot in equities, with the sector up more than 16% so far in the new year and one of only two of the S&P 500’s 11 sectors, alongside financials (up 0.4%) in positive territory. Oil stocks are taking a cue from crude, poised to either break out and continue the rally or take a break, Adams said. The SPDR S&P Oil & Gas Exploration & Production exchange-traded fund XOP is up 12.6% in the month to date, but fell 1.1% on Wednesday. XOP is off to a great start to the year and its “big picture” chart is positive. But it’s trading at its upper volatility band and near where it ran into resistance a couple months ago — a “critical spot,” he said (see chart below). “It’s hard for me to suggest going heavy on it and oil stocks in general here at such an uncertain point, but I continue to think pullbacks in this group are for buying and oil stocks continue to be the best source of alpha in this market,” Adams wrote.
  4. I stand in prayer!!! Blessings to Jimmy and you....
  5. Dion Rabouin Fri, March 5, 2021, 4:44 AM·2 min read Data: FactSet; Chart: Axios Visuals Oil and gas prices jumped on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) and allied producers said on Thursday that they would extend production cuts into April. The big picture: Oil is being driven by the production cuts of OPEC, a consortium of the world's largest producers, and expectations for a rebound in global demand as more countries emerge from coronavirus lockdowns. Crude oil has been a top performing asset this year, with variants like gasoline and diesel also delivering big gains in 2021 of 38.6% and 24.3%, respectively. The intrigue: OPEC has taken an incredulous approach to the massive rebound, suggesting prices could rise even more meaningfully in the coming months. Saudi Energy Minister Abdulaziz Bin Salman told journalists at a virtual press conference Thursday that the "jury is still out" on the future of the oil market. “At the risk of sounding like a stuck record, I would once again urge caution and vigilance." “Before we take our next step forward, let us be certain the glimmer we see ahead is not the headlight of an oncoming express train.” What's next: Gas prices in the U.S. already have risen to a one-year high and experts had predicted they could continue rising higher even before the unexpected extension of production cuts by OPEC. In addition to the price drivers see at the pump, this could have implications for the cost of air travel and the price of imported goods, which were already seeing increases thanks to global supply chain disruptions and increased inflation expectations.
  6. @davis411 Maybe they can add to the Zoom icons so in addition to the (stupid) li'l applause or Thumbs Up icons, they give them a Shoe Throw icon, looking a bit like the old Monopoly shoe token.
  7. Some freakin' serious starch in them thar suits!! Think I'd better invest in Iraqi spray starch stocks before this all pops.... jus sayin' Thanks for the post, Thug!
  8. @MEP01 - yeah, you didn't learn that in Sunday School? Like cell phones too, they'll have you worshipping their SIMP cards and you'll start simping. Bad stuff there, ya know? Next thing our cars' nav systems will be rising up and taking us over as well. jus sayin, lol Me, I'll stay with my chunky money, eatin' Ben & Jerry's Chunky Monkey thank you. Fuel up for a great RV!!
  9. Simple, IMHO - with Iraqi cities in quarantine lockdown, and bank doors closed, they can avoid the panic rush of the RV stampeding through the glass doors so otherwise they'd have all these peeps with face masks on streaming in to exchange bills and no chance of ID'ing them on the CCTV systems..... perfect time for the CBI and friends to go ahead and push the RV button! jus sayin'
  10. (CNN)At least 10 rockets hit al-Asad airbase in Iraq, which houses US forces, a Sunni commander of the paramilitary forces in a nearby town told CNN. Qatri al-Obeidi, a commander in the nearby town of al-Baghdadi, said that the shelling has stopped for now. President Donald Trump visited the base in December 2018 to visit troops after Christmas. Vice President Mike Pence also visited the base in November 2019. The attack follows last week's deadly US drone strike that Trump ordered to kill key Iranian General Qasem Soleimani. Iranian state TV reported that the Iran's Islamic Revolutionary Guard Corps, or IRGC, "has hit U.S. Ain al-Asad airbase in Iraq with tens of missiles." The IRGC warned the US of of more "crushing responses in case of new aggression," according to state TV. The IRGC said it will target any regional state that becomes a platform for US aggression, a second banner on state TV read. CNN reported earlier on Tuesday that US forces and air-defense missile batteries across the Middle East were placed on high alert overnight Monday to possibly shoot down Iranian drones as intelligence mounted about a threat of an imminent attack against US targets, according to two US officials. Trump was briefed on the reports of rocket attacks, White House press secretary Stephanie Grisham said. "We are aware of the reports of attacks on US facilities in Iraq. The President has been briefed and is monitoring the situation closely and consulting with his national security team," Grisham said. House Speaker Nancy Pelosi was discussing the situation in Iran when she was handed a note with news of the attack, lawmakers who attended the meeting said. Rep. Dan Kildee, a Michigan Democrat, said she paused the discussion to tell the members of the Steering Committee of the news. "Pray," Pelosi told members, according to Rep. Debbie Dingell. This is a breaking story and will be updated. https://www.cnn.com/2020/01/07/politics/rockets-us-airbase-iraq/index.html Updates welcome! D4D
  11. Iran's president says a new oil field in south has been discovered with estimated 50 billion barrels of crude oil. https://abcnews.go.com/International/wireStory/irans-president-oil-field-south-discovered-estimated-50-66887177 Haven't found more on this yet. Might it affect Iraq's global oil market and prices?
  12. I recall reading that we assumed we could just move onto Iraqi land as we moved some troops out of Syria, didn't ask permission, so are being asked/told to leave.
  13. Interesting how many of us jump to complain, criticize or otherwise do a Donald Downer, or Debbie Downer. Reading the whole sentence, it says ".... Recommendation to the House of Representatives to wait on the approval of the draft law on oil and gas until the completion of the draft law" (with tip of the hat to 6ly410) I understand this as "let's finish the draft before we approve any of it". Common sense in my book, jus sayin' LET'S DO THI$ !!!
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