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Oil spikes above $91 on supply concerns

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Posted By: NorthernDog, 9/19/2023 10:16:06 AM

The price of oil continues to rise as Wall Street traders eye a potential supply deficit after Saudi Arabia and Russia extended supply cuts. Brent and West Texas Intermediate (WTI) crude prices have climbed for three straight weeks to reach their highest peak since November and are now targeting their biggest quarterly jumps since Russia's invasion of Ukraine in the first quarter of 2022. That year, oil prices shot above $100 for the first time since 2014 amid the conflict as demand recovered from COVID-19 lockdowns. Meanwhile, the global benchmark Brent Crude ended 2022 near $86 a barrel on fears


The US could easily flood the market with fresh oil supplies, but Old Joe is determined to slash the throat of energy producers.

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Reply 1 - Posted by: Quigley 9/19/2023 10:26:13 AM (No. 1559158)
We’ll just have use sunshine and the blowing wind !! Big bidet says he’s going phase out oil and gas anyway. I know he’s got dementia and has a life time of stupidity accumulated in what’s left of his database, but he shouldn’t tell The Gullibles such things until he has an alternative. Right now there isn’t even an alternative on the drawing board, just Other People’s Money funded scams and dreams of miracles.
5 people like this.

Reply 2 - Posted by: daisey 9/19/2023 10:35:07 AM (No. 1559165)
And our oil reserves are at an all time low. To replenish them will cost millions. Thanks Barack.
5 people like this.

Reply 3 - Posted by: smokincol 9/19/2023 10:54:56 AM (No. 1559179)
joebiden, the greatest president for the communist world this country has ever seen, thanks, joebiden and may you have a restless death and an utterly painful after life.
4 people like this.

Reply 4 - Posted by: Jesuslover54 9/19/2023 10:58:58 AM (No. 1559183)
It's what the $6 billion bought.
4 people like this.

Reply 5 - Posted by: DVC 9/19/2023 11:19:46 AM (No. 1559207)
We mostly paid in the high $3 range yesterday driving from Colorado to eastern Kansas, but we saw a few areas in rural eastern Colorado or small town western Kansas which were over $4 a gallon. The EcoCrazies and their WEF friends want to go back to kings and serfs and are working hard to make it happen. The Hunger Games movies have been taken as their idealized future. And hell on earth for us ordinary folks.
6 people like this.

Reply 6 - Posted by: Mizz Fixxit 9/19/2023 11:47:01 AM (No. 1559221)
Crude oil prices are on a trajectory to $100 a barrel. Communist pedophile Joe Biden deliberately spiked energy prices.
4 people like this.

Reply 7 - Posted by: stablemoney 9/19/2023 11:52:02 AM (No. 1559227)
Biden policy is gradually restricting oil supply. Oil stocks will continue to climb, but will collapse when a rational person gets back in the WH.
4 people like this.

Reply 8 - Posted by: EJKrausJr 9/19/2023 11:56:07 AM (No. 1559235)
Ruh-Roh. Joey Baby cant use the Strategic Petroleum Reserves to lower prices, bc the SPR tanks are empty. Be ready for $10+/Gal prices during the election season. Inflation will soar as fuel costs will be passed on to the consumer. Hey Yellen, can you see what's coming?
5 people like this.

Reply 9 - Posted by: mifla 9/20/2023 7:23:54 AM (No. 1559786)
OPEC just sent Biden a thank you note. Putin didn't send a note, but he is happy that we are helping to fund his war with high oil prices. Come to think of it, we are also funding Zelensky to wage war against the Russians. We are funding both sides of this war. Wait.., what?
0 people like this.

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