>CHICAGO (AP) — Oil prices have eclipsed $100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.
>The price for a barrel of Brent crude, the international standard, was at $101.19 shortly after trading resumed on the Chicago Mercantile Exchange, up 9.2% from its settlement price of $92.69 Friday.
EarlyJuggernaut7091 on
Even if everyone on Earth topped off their gas tank today, the total fuel sitting in cars is tiny compared to global oil production and storage.
That’s not what makes eggs, milk, and bread skyrocket. Food prices move because of feed, fertilizer, energy, transport, labor, and supply shocks.
All aboard! 4 Mr. Toad’s wild ride.
totesuncommon on
Thanks, Trumpy
craigferg on
China also thanks Donald Trump for selling their Electric Vehicles. Best Year Ever!
Damnyoudonut on
My Facebook feed says this is all Carney’s fault, somehow.
RayB1968 on
Thanks Biden Obama /s
Worth-Tank336 on
$110 will be the basement…it’s going to keep going up.
copperblood on
The positive is they can prosecute all the child rapists including Trump for raping kids on Epstein rape island. DOW gonna crater below 50k
Royal-Hunter3892 on
The Republican donors of the Oil industry who gave millions , now will be getting their returns on their investments and make billions when prices goes up.
Microplasticsharts on
Now Trump will be forced to send Navy escort ships into the strait, at best they run out interceptors before giving up, at worst the navy loses a multiple destroyers. Either way, it fails.
Candid_Cat_5921 on
I live near a refinery in the US and they closed the roads around it and now it has a bunch of netting around it. There must be intelligence that there are attacks planned against US energy infrastructure. If that happens, prices are going to skyrocket.
FelixPotvin94 on
Oh boy, I already can not afford to live, I can’t wait to not be able to afford to go to work so that I can work to not be able to afford to live!
Va1crist on
America voted for this
SingularityCentral on
Well on its way to $120/barrel.
mf-TOM-HANK on
Before the onset of Trump’s war of choice, oil per barrel was around $65 a barrel. It wouldn’t be completely ridiculous to predict that number could double to $130 per barrel by the end of the month if hostilities continue to escalate in the Middle East
175junkie on
And it’s not even July yet ! Maganomics seems to be working perfectly 😂.
EmotionalBag777 on
Glad I bought that plane ticket I was eyeing on Friday
Strayed8492 on
Unfortunately this only helps Russia.
turkishmonk9 on
even fertilizers are byproduct of petrol. consumer inflation will hurt.
it’s time to stock long lasting goods.
Formal_Specific1473 on
Are we all winning yet?
IveKnownItAll on
Are we taking bets that the oil companies record record profits this year?
yaboonabi on
People focus on the price of refueling their own cars, but haven’t taken a second to consider what this does to the supply chain. All that stuff you need moved to you with a petroleum-burning vehicle? Gonna go waaaay upÂ
ive_got_the_narc on
Bout to start walking to work
Sweet-Sale-7303 on
Makes me glad I have a hybrid
thrway-fatpos on
Never have I been happier to live somewhere with majority green electricity
streamofthesky on
So, we really went into this with literally no plan whatsoever for what to do about them attacking ships in the Strait? Ah well, it’s not like Iran didn’t just use this same exact tactic in the Red Sea a few years ago, to make it even more obvious that’s what they’d do this time.
Trump invokved Defense Production Act to punish Anthropic for refusing to be Skynet, but not a damn peep about it to jump start shale oil production in the US to stabilize prices!
And now we hit a water desalination plant, because apparently the MAGA led military is hellbent on messing this war up in as many fun and unique ways possible!
CaulkusAurelis on
MAGA: “Nothing to see here!!!”
Chickachic-aaaaahhh on
If you own a truck. Good luck
TheGhostofJTWalsh on
Those Chinese EV’s are gonna be lookin pretty tempting.
ReddFro on
Thanks Trump for doing everything you could to keep us locked into fossil fuels. I’m sure this’ll turn out great.
InsanelyAverageFella on
I guess wars have consequences. The annoying part is that this was 100% predictable and something the US has been incorporating in their prior negotiations and tactics with Iran until the current administration rolled in and decided to start a war.
34 Comments
$110 now.
Glad I filled my tank yesterday.
Thanks, Donald.
Thank you MAGA
From the AP News article:
>CHICAGO (AP) — Oil prices have eclipsed $100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.
>The price for a barrel of Brent crude, the international standard, was at $101.19 shortly after trading resumed on the Chicago Mercantile Exchange, up 9.2% from its settlement price of $92.69 Friday.
Even if everyone on Earth topped off their gas tank today, the total fuel sitting in cars is tiny compared to global oil production and storage.
That’s not what makes eggs, milk, and bread skyrocket. Food prices move because of feed, fertilizer, energy, transport, labor, and supply shocks.
All aboard! 4 Mr. Toad’s wild ride.
Thanks, Trumpy
China also thanks Donald Trump for selling their Electric Vehicles. Best Year Ever!
My Facebook feed says this is all Carney’s fault, somehow.
Thanks Biden Obama /s
$110 will be the basement…it’s going to keep going up.
The positive is they can prosecute all the child rapists including Trump for raping kids on Epstein rape island. DOW gonna crater below 50k
The Republican donors of the Oil industry who gave millions , now will be getting their returns on their investments and make billions when prices goes up.
Now Trump will be forced to send Navy escort ships into the strait, at best they run out interceptors before giving up, at worst the navy loses a multiple destroyers. Either way, it fails.
I live near a refinery in the US and they closed the roads around it and now it has a bunch of netting around it. There must be intelligence that there are attacks planned against US energy infrastructure. If that happens, prices are going to skyrocket.
Oh boy, I already can not afford to live, I can’t wait to not be able to afford to go to work so that I can work to not be able to afford to live!
America voted for this
Well on its way to $120/barrel.
Before the onset of Trump’s war of choice, oil per barrel was around $65 a barrel. It wouldn’t be completely ridiculous to predict that number could double to $130 per barrel by the end of the month if hostilities continue to escalate in the Middle East
And it’s not even July yet ! Maganomics seems to be working perfectly 😂.
Glad I bought that plane ticket I was eyeing on Friday
Unfortunately this only helps Russia.
even fertilizers are byproduct of petrol. consumer inflation will hurt.
it’s time to stock long lasting goods.
Are we all winning yet?
Are we taking bets that the oil companies record record profits this year?
People focus on the price of refueling their own cars, but haven’t taken a second to consider what this does to the supply chain. All that stuff you need moved to you with a petroleum-burning vehicle? Gonna go waaaay upÂ
Bout to start walking to work
Makes me glad I have a hybrid
Never have I been happier to live somewhere with majority green electricity
So, we really went into this with literally no plan whatsoever for what to do about them attacking ships in the Strait? Ah well, it’s not like Iran didn’t just use this same exact tactic in the Red Sea a few years ago, to make it even more obvious that’s what they’d do this time.
Trump invokved Defense Production Act to punish Anthropic for refusing to be Skynet, but not a damn peep about it to jump start shale oil production in the US to stabilize prices!
And now we hit a water desalination plant, because apparently the MAGA led military is hellbent on messing this war up in as many fun and unique ways possible!
MAGA: “Nothing to see here!!!”
If you own a truck. Good luck
Those Chinese EV’s are gonna be lookin pretty tempting.
Thanks Trump for doing everything you could to keep us locked into fossil fuels. I’m sure this’ll turn out great.
I guess wars have consequences. The annoying part is that this was 100% predictable and something the US has been incorporating in their prior negotiations and tactics with Iran until the current administration rolled in and decided to start a war.