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Oil prices exceed $106 a barrel


yota691
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 So glad I sold my big car and am now driving a 20 year old Honda civic . It was my Dad's and I couldn't bear to sell it . When we invaded Iraq , wasn't it all about the oil ? Once the HCL is finalize and the Iraqi government  fully formed ,we will see a substantial increase in the value of dinar . The US government should be leaning on them pretty hard to get this done . How great for Iraq to have this happen before Ramadan

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Just paid $5.69 for regular unleaded here in SoCal. I drive at least 150 miles a day in my F-250 which gets 12MPG on the highway when there's no traffic which is rare.  I have 3 other trucks running around every day and its getting spendy to say the least. When 45 was president my hourly surcharge for a service truck was $7.00 an hour. Bumped it to $12.00 an hour three months ago and just raised it to $15.00 an hour and put everyone on a 4 -10 hour day work week to lower costs.

Adapt or die.  

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12 minutes ago, SocalDinar said:

Just paid $5.69 for regular unleaded here in SoCal. I drive at least 150 miles a day in my F-250 which gets 12MPG on the highway when there's no traffic which is rare.  I have 3 other trucks running around every day and its getting spendy to say the least. When 45 was president my hourly surcharge for a service truck was $7.00 an hour. Bumped it to $12.00 an hour three months ago and just raised it to $15.00 an hour and put everyone on a 4 -10 hour day work week to lower costs.

Adapt or die.  

I feel 4.15/gal regular -1- vehicle of your pain! Can’t touch the rest of it, however your forward thinking will bode well for you! Stay the course!!

🙏🏼🙏🏼🙏🏼

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The price of a barrel of oil rose to $125 in today's trading
 

Baghdad - people  

Oil prices witnessed, on Tuesday, a rise near their highest levels in 14 years, reaching 125.16 dollars per barrel.  

  

  

This comes amid great turmoil in Russian oil exports, but the rejection of the embargo called for by America limited the gains, as the United States is considering acting alone to ban Russian oil imports instead of cooperating with its allies in Europe, alleviating fears of a wider disruption to crude supplies.  

  

Brent crude futures rose $1.95, or 1.58 percent, to $125.16 a barrel at 04:23 GMT, after falling to $121.31.  

  

US West Texas Intermediate crude futures were up 1.26 cents, or 1.6%, at $120.66 a barrel after also trading in a roughly $4 range.  

  

The erratic moves followed a sharp rise on Monday to nearly a 14-year high when the Biden administration said it was talking to Britain, France and Germany about a ban on Russian oil.  

  

In an effort to limit price gains, officials said late on Monday that the United States was ready to go ahead with the ban alone, and Germany, the biggest buyer of Russian crude, rejected plans to impose an energy ban.  

  

Russia exports about 7 million barrels per day of crude oil and petroleum products. 

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 2022-03-08 05:17
 

Shafaq News/ The prices of the OPEC oil basket recorded, on Tuesday, more than 126 dollars per barrel.

And the Organization of the Petroleum Exporting Countries stated in a report seen by Shafak News Agency, that "the price of the OPEC basket of thirteen barrels of crude recorded $126.51 per barrel, indicating that the price rose from the previous day by $13.36, which recorded $113.15."

Global oil prices rose significantly as a result of the war in Ukraine and the threat to impose a ban on Russian oil exports, which coincided with the scarcity of supply and high demand.

The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Lite (Gabon), Heavy Iran (Islamic Republic of Iran) Basra Al Khafeef (Iraq), Kuwait Export (Kuwait), Es Sidr (Libya), Pune Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela).

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1 hour ago, Half Crazy Runner said:

I looked up the history of the price of oil. Since the 1860’s it’s never been anywhere near this high before (even adjusting for inflation). Previous highs were during the Carter and Obama years… 

The dems plan to force everyone into electric vehicles is working perfectly 

4942328E-4D0B-417C-A1BB-4A2A147270C9.jpeg

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Oil prices rose, today, Wednesday, amid continuing turmoil in Eastern Europe, after US President Joe Biden announced yesterday the United States' ban on importing Russian oil, but his statement not to obligate Europe to this decision curbed its rise.
Brent crude futures for May 2022 delivery rose 2.71% to $131.45 a barrel, while US crude futures for April delivery rose 2.13% to $126.34 a barrel.
On Tuesday, US President Joe Biden announced a US ban on Russian energy imports, including oil and gas, stepping up a campaign of pressure on Moscow in response to the invasion of Ukraine.

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 2022-03-09 08:56
 

 

Shafaq News/ The Kuwaiti oil expert, Hajjaj Bou Khaddour, expected on Wednesday that global oil prices would rise to $150 a barrel against the backdrop of US President Joe Biden's decision to ban Russian oil and gas in the United States, describing the decision as "wrong."

 

In an interview with the Russian agency "Sputnik", Bou Khaddour said, "Oil prices were driven by market fundamentals, such as supply and demand, which raised oil prices to levels above $80 a barrel."

 

"But with geopolitical reasons, prices started to rise as a result of some speculators exploiting these conditions, and I mean the crisis between Russia and Ukraine," he added.

 

He pointed out that "this exploitation raised oil prices to more than $100, and the United States' decision to ban Russian oil led to the rise in oil prices to the level we are witnessing today, and America's decision to ban Russian oil was a wrong decision and led to oil prices rising above $130." barrel".

 

The oil expert summarized the reasons that led to the rise in oil as follows: "The first reason is the market fundamentals of high demand, the second reason is speculators' exploitation of the Russian-Ukrainian crisis, and the third reason is the US President's decision to ban Russian oil."

 

He stressed that "prices will tend to rise as a result of the wrong American decision to ban Russian oil, and it may reach $150 a barrel."

 

On the possibility of OPEC + during the next meeting increasing production above the planned level estimated at 400,000 barrels, and whether the increase will affect oil prices, he said: “Even this previously scheduled increase in previous meetings will not stop the rise in oil prices as long as the American decision remains. The embargo on Russian oil is in place.

 

Bou Khaddour explained that "the issue with the rise in oil prices does not lie in the lack of supplies, but in the political decisions that are taken in such crises."

 

He was surprised that "instead of the United States calming the markets, it is the one who inflamed the markets and their tension, and this decision by the United States was not successful and no countries will be able to fill the impact of the shortage due to the embargo on Russian oil."

 

Speaking about the parties benefiting from the current rise in oil prices, he explained that these rises will lead to price inflation and economic stagnation, and its repercussions will be negative on all countries, including the Gulf states, which will initially benefit from this rise, but will pay its bill late, unlike the Gulf states. Importing countries that will pay the bill immediately.

 

Bou Khaddour noted that Iran will take advantage of this crisis to the maximum, and that it will increase its production during this period, "even if there is no nuclear agreement, America will lift the embargo on Iran, or it will turn a blind eye to the export of Iranian oil in an attempt to compensate for the shortfall resulting from the embargo." Russian oil.

 

He expected that in the coming period, new countries would like to ban Russian oil; He said: "With this, the circle of countries that ban the import of Russian oil is expanding to include the United States and Canada. This trend extends to include major trading companies."

 

On Tuesday, US President Joe Biden announced a ban on the import of Russian oil and gas, "to put pressure on Russian President Vladimir Putin to stop the war."

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Russia's oil ban is not wrong. What is wrong is funding a country killing citizens of another country, right Iraq? Or do you not see that, Iraq? My how short of a memory Iraq has for invading a neighboring country via despotic leader. What happened there, Iraq? 

 

What Biden has done wrong is to not open up the United States domestic oil production. He lied in his speech when he banned the oil from Russia. Just like people asked how they liked "hope and change" back during 0Bummer's admin, how is the manchurian president working out for you now? 

 

Electric cars are the worst thing for the environment because you have to burn fossil fuels to make electricity to fuel your vehicle. I asked a gentleman about his long distance trips in an electric vehicle. He told me that every time he stops to charge up his vehicle he has to wait 30 minutes to 1 hour to get enough charge to make it to the next charging station. So now a cross country trip, coast-to-coast, currently takes around 43 hours will take you over 70 hours to drive. This is a step back for travel time. Then let's talk about the batteries and their impact on the environment. The strip mining being done for "green energy" is turning the environment brown. The batteries require roughly a thousand years in our landfills to get rid of. If a crash occurs in an electrical vehicle, a hazmat crew has to come and assess the situation. Heaven forbid if the car catches fire because then the hazmat crew has to plunge the car into a bath to put out the fire. Yeah anything requiring a hazmat crew is not good for the environment. 

 

A green energy policy will deplete the Earth faster than greenies really think it will. But that is okay they don't mind as long as they can get their 15 dollar cup of coffee that tastes like it was dipped out of the local sewer and served in a plastic lined cup that will take thousands of years to decay. And where the heck did  the hazelnut go? I think I will plant a hazelnut tree this spring.

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 2022-03-11 10:00
 

Shafaq News/ Oil prices rose on Friday, but they are on their way to their biggest weekly decline since November, after fears of an escalation of the Russian oil embargo revived in exchange for efforts to bring more supply to the market from other major producers.

Brent crude futures rose $2.48, or 2.27 percent, to $111.81 a barrel, after falling 1.6 percent in the previous session, according to "Reuters".

West Texas Intermediate (WTI) crude futures rose $2, or 1.89%, to $108.02 a barrel, after a 2.5% drop on Thursday.

And in a week of volatile trading marked by talk of a Russian oil embargo and then potential supply additions from Iran, Venezuela and the United Arab Emirates while fighting escalated in Ukraine, Brent crude was on course for a 5.2% weekly drop after hitting a 14-year high.

Prices fell this week after it became clear that the European Union, which relies heavily on Russian energy, would not join the United States and Britain in banning Russian oil.

Russia, the world's second largest crude oil exporter after Saudi Arabia, exports about 3 million barrels per day of crude to OECD countries in Europe.

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 2022-03-20 05:39
 

Shafaq News/ Oil expert Hamza Al-Jawahiri ruled out, on Sunday, the occurrence of a global economic recession, stressing that the rise in oil prices is an emergency.

Al-Jawahiri said in an interview with Shafak News Agency; "The rise in global oil prices is an emergency as a result of the war in Ukraine and consumers' fears that the situation will deteriorate as a result of US sanctions on Russia and as a result of consumer countries' fear of not continuing energy supplies."

He continued, "Once the war ends, things will return to normal and oil prices will return to the range of 85 to 90 dollars a barrel," stressing that "the short period of time of turmoil in oil prices does not lead the world to enter into a phase of economic stagnation, as the recession needs objective accumulations." on the economy for a period of a year or more, not for a few weeks.”

Al-Jawahiri expected that "the war will not be long and will end soon, and therefore there will be no economic stagnation, especially since there is a demand to buy oil with the presence of refining industries and continuous production factories," adding that "there is global inflation, but it will disappear with the end of the war."

A number of economists fear a global economic recession, especially after the Corona pandemic left the global economy at two main weaknesses, the first of which is high inflation rates, and financial market turmoil, and the repercussions of the war in Ukraine could easily exacerbate the situation.

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The price of oil is about $110 a barrel
 

  

Baghdad - people   

Oil prices rose $2 on Monday as Ukrainian forces withstood violent Russian attacks, while major oil producers said they were struggling to produce their quotas under a supply agreement.  

  

  

  

Brent crude futures rose $1.96, or 1.8 percent, to $109.89 a barrel by 0039 GMT, adding to its 1.2 percent rise last Friday.  

  

US West Texas Intermediate crude futures rose $2.09, or 2 percent, to $106.79, to continue rising by 1.7 percent last Friday.  

  

Prices rose after Ukraine's Deputy Prime Minister Irina Vereshchuk said early on Monday that there was no chance of troops surrendering in the besieged eastern port city of Mariupol.  

  

The focus has returned to whether the market will be able to compensate for Russian oil production, which has been hit by sanctions, with little sign of the conflict abating.  

  

"The market remains concerned about supply disruptions as data indicates they are already affecting," ANZ analysts said in a note.  

  

The latest report issued by the OPEC + group showed that the production of some countries still did not reach the agreed level of their production quotas. Three sources told Reuters that OPEC + did not achieve the target level of its production by more than one million barrels per day in February, under its agreement to increase production. 400 thousand barrels per day every month.  

  

"Reuters"  

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Moscow: Oil prices may reach $500 if the embargo on Russian oil is imposed

political03:04 - 03/21/2022

 
image
 
 

 

Baghdad - Mawazine News
Russian Deputy Prime Minister Alexander Novak announced that world oil prices will jump to $300 a barrel if the West rejects Russian oil, explaining that some experts expect it to rise to $500.
Novak said: "In the event of abandonment (of Russian oil), the oil price will be $300, and some say it will reach $500."
He added that Russia will maintain the level of oil production against the background of statements by foreign companies concerned with servicing oil fields to end their work, stressing that the country is also able to diversify its oil exporters and is working on that.
International oil prices rose, today, Monday, by more than 3 percent, due to continuing political tensions, which create fears of supply disruptions, according to trading data.
Media reports indicated that the European Union is working on a fifth package of sanctions against Russia, and is also studying the possibility of imposing an oil embargo on Moscow.
And according to what was published by "Reuters", quoting a European diplomat, the European Union is working on preparing for a new package of sanctions, in addition to putting a number of names on the list.
The agency said that despite four packages of sanctions, Russia "has not changed course with regard to Ukraine". For this reason, European countries must decide whether to impose an embargo on oil supplies from Russia. End 29 / h

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 2022-03-22 08:55
 

Shafaq News/ Oil prices jumped more than 7 percent on Monday, with global benchmark Brent crude rising above $115 a barrel, as European Union countries consider joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities.

Brent crude rose $7.91, or 7.33%, to $115.81 a barrel by 21:51 PM GMT, while US West Texas Intermediate crude futures rose $7.36, or 7.03%, to $112.06.

European Union governments will consider whether to impose an oil embargo on Russia over its invasion of Ukraine, as they meet this week with US President Joe Biden in a series of summits designed to bolster the West's response to Moscow. 

With little sign of easing the conflict, the focus is back on whether the market will be able to replace the sanctions-damaged Russian barrels.

Over the weekend, attacks by Yemen's Iran-aligned Houthi group caused a temporary drop in production at a Saudi Aramco (2222.SE) refining joint venture in Yanbu, raising concern in the tense oil products market, where Russia is a major and global supplier. Stocks are at their lowest in several years. 

On Monday, Saudi Arabia said it would not be responsible for any shortages in global oil supplies after the attacks, in a sign of growing Saudi frustration with Washington's dealings with Yemen and Iran. 

The latest report from the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, showed that some producers were still falling short of agreed supply quotas.

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A storm in the oil market and expectations of a rise in prices to 150 dollars a barrel
  
{Economic: Al Furat News} Experts expected oil prices to rise to $150 a barrel, after an accident this week at an oil pumping station in the Russian port of Novorossiysk caused a halt in crude supplies along this path.

Reports stated that a severe storm hit the Russian port of Novorossiysk, on the Black Sea, which damaged the crude pumping station of the "Caspian Sea Pipeline" consortium, which affected the supply of black gold.

According to reports, the accident occurred on March 20, and caused two-thirds of the station's capacity to be disrupted for at least a month. Yesterday, Russian Deputy Energy Minister Pavel Sorokin warned that the suspension of the offshore station would have serious repercussions on oil supplies and reduce them by about one million barrels per day.

The Russian Deputy Energy Minister indicated that maintenance work is likely to take a month, pointing out that the accident will affect oil exports from Russia and Kazakhstan through the Caspian Sea pipeline.

Regarding the repercussions of the incident on global oil markets, Igor Yushkov, a senior analyst at the National Energy Security Fund and an expert at the Russian Government's Financial University, believes that this may push the price of oil to a sharp rise.

He pointed out that the incident came at a time when the global oil market recovered from a shortage of supply, as demand exceeds supply, so it may push the price to 140-150 dollars per barrel.

Earlier, the "Caspian Sea Pipeline" consortium explained that the storm damaged the pipeline's loading equipment. The Caspian Sea pipeline is one of the largest oil pipelines in the world and transports oil from Kazakhstan and Russia to world markets.

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54 minutes ago, nannab said:

Oh well that stinks for Putin :woot::woot: I know it is not right to wish ill will

on other people but but but there goes his pocket change 

 

You do realize that Russia is still their oil in other markets and it’s basically rebranded and we are still buying it or they will stock pile all that oil in another country until their war is over and we will buy it then. Perfectly legal and avoids the sanctions, what people don’t realize is again it’s all BS a smoke screen the rich will always get richer it’s a rigged game no matter who is in office!!! The little guy rarely gets his fair share that’s why when an opportunity such as the Meme stock squeeze possibilities like AMC Stock take off like a rocket with the common man around the world!! It’s our chance to beat them at their own rigged game… people in massive numbers can change the game!!!! Now let’s go RV and let’s go AMC stock to the MOON!!!

Edited by Dinarrock
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 2022-03-24 06:20
 

 

Shafaq News/ The prices of the OPEC oil basket rose, on Thursday, to record more than 116 dollars per barrel.

And the Organization of the Petroleum Exporting Countries stated in a report seen by Shafak News Agency, that "the price of the OPEC basket of thirteen barrels of crude recorded 116.94 dollars per barrel," noting that "the price rose from the previous day by 2.34 dollars, after it recorded 114.60 dollars."

Yesterday, Wednesday, oil prices rose significantly after America's attempt to persuade the European Union to dispense with Russian oil and gas and also after the disruption of Russian and Kazakh crude exports through the CPC pipeline, which coincided with tight supply and high demand.

The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Lite (Gabon), Heavy Iran (Islamic Republic of Iran) Basra Al Khafeef (Iraq), Kuwait Export (Kuwait), Es Sidr (Libya), Pune Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela).

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