WTI CRUDE

[Crepitus]

The realism is that the high prices are temporary and will come back down after the dust settles. Let's just say that gas prices won't be an issue for the midterms.

Lmao

 

[LurchAddams]

Where were you when the brandon adminstration drove the price from $2.00/gal to $4.50/gal?

Your selective outrage is all too frequent and comical.
Now, go sell aftermarket warranties.

It amazes me @Jarod how during a pandemic when the price of goods went up worldwide, idiots like @Lionfish want us to forget that Biden's recovery from trump's fucked up pandemic handling was the envy of the world.

 

[Jarod]

It amazes me @Jarod how during a pandemic when the price of goods went up worldwide, idiots like @Lionfish want us to forget that Biden's recovery from trump's fucked up pandemic handling was the envy of the world.

They do not care about facts, they care about trying to get everyone, especially themselves that Strong Daddy Trump is infallible and will protect them.

 

[LurchAddams]

They do not care about facts, they care about trying to get everyone, especially themselves that Strong Daddy Trump is infallible and will protect them.

Another thing that amazes me is the trump cult's amnesia. Trump campaigned on bringing prices down "the first day" and no more foreign wars.

Now they're all a-ok with it. They have unlimited forgiveness for Trump's broken promises. I think the reason why is because they hate Democrats so much, they're willing to take the entire country into the shitter as long as "iibs are sad".

So pathetic.

 

[مرگ بر آمریکا]

WTI Crude July contracts are in the 80s

What ignorance.

The July WTI Crude futures contract trading in the 80s (or whatever level it’s at) does not mean that physical oil will automatically be delivered at that price in July.

>98–99% of WTI futures contracts are closed out or “rolled” before expiration. Traders (speculators, hedge funds, many hedgers) simply buy or sell an offsetting contract and walk away with a cash profit or loss.

No oil changes hands.

The actual physical (spot) price of crude in July will be set by supply, demand, refinery runs, geopolitics, storage levels, etc., at that time.

The futures price is the market’s current consensus/best guess of what July oil should be worth, and the physical-delivery option keeps the futures price anchored to reality. But it is still just an expectation, not a binding price for every barrel produced or consumed.

Seeing a July contract “in the 80s” tells you the price at which you (or a refinery, producer, airline, etc.) could lock in July oil right now via the futures market. It does not mean that the physical barrels that will be bought and sold in July will automatically trade at exactly that number.