Oil Price rises above $70

[BlasterBates]

Two years after a new paradigm was declared where the oil price couldn't possibly get above $40 because of shale oil, it's now $70, Brent Crude now at nearly $80.

https://www.reuters.com/article/us-g...-idUSKBN1I801Z

In a couple of years I predict a new paradigm where it the oil price can't fall below $100.

[TwoWolves]

Two years after a new paradigm was declared where the oil price couldn't possibly get above $40 because of shale oil, it's now $70, Brent Crude now at nearly $80.

https://www.reuters.com/article/us-g...-idUSKBN1I801Z

In a couple of years I predict a new paradigm where it the oil price can't fall below $100.

It's the ROI, stupid! (increasing demand from developing nations too)



I think we all figured that out.

[AtW]

Market manipulation, as before via OPEC+ and good job Korbyn's mate doing in Venezuela

[PurpleGorilla]

How much of this is a devaluing dollar?

[Mordac]

How much of this is a devaluing dollar?

Since oil is priced in dollars, my guess is not that much...

Disclaimer: I could be wrong though...

[The Castle Cary Fairy]

Yes, it's a bit like the proverbial frog in a saucepan of water.

Only seems like yesterday when the price of a litre of diesel was set to dip below £1. My eyes nearly shot out of my head when I was filling up in Morrisons on Saturday & I had a cursory glance at the tariff expecting to see something like £1.10 per litre but was instead confronted by £1.24 per litre.

[Mordac]

Yes, it's a bit like the proverbial frog in a saucepan of water.

Only seems like yesterday when the price of a litre of diesel was set to dip below £1. My eyes nearly shot out of my head when I was filling up in Morrisons on Saturday & I had a cursory glance at the tariff expecting to see something like £1.10 per litre but was instead confronted by £1.24 per litre.

Don't you mean "frog in a blender"? Or was that one of my stranger dreams...?