... interesting development / Russian oil

[terr]

https://www.bloomberg.com/news/articles/2022-03-02/R83VQCT0AFBA01


Russian oil sales are increasingly under an embargo in all but name, threatening a vital source of global crude supply.

While there are currently no sanctions in place preventing companies from purchasing the nation’s crude, buyers are refusing to take it, and tanker companies are unwilling to ship it. Refineries are racing to secure alternative supplies from other markets.
...
“About 70% of Russian crude trade is frozen,” Energy Aspects, a consultant, said in a note. “Most majors are not touching Russian oil, and only a few European refiners and trading firms are still in the market.”

 

[S2007S]

114 oil

And they just increased some of my favorite snacks and food items by 25%%%%.

Yep 25%+++

Eventually something has to break, you can't have forever rising oil prices and the cost of goods and services rising in a straight line. The consumer will eventually tap out and there will be a significant price readjustments across all asset classes. When it happens no one knows, but it will be an astonishing and most beautiful thing to watch when it does all break down!!!

 

[The_Krakenite]

Waiting for millennial investors to buy everything at the TOP again...

 

[Millionaire]

114 oil

All time high for oil is something like $147. Thats only $30 from the current price level. There are predictions that oil will hit $200

 

[blink18]

All time high for oil is something like $147. Thats only $30 from the current price level. There are predictions that oil will hit $200

Predictions for oil at $200 are made every single year.

 

[Peter8519]

Shale oil production cost is around $60-90 per barrel. At >$100 per barrel, shale oil is viable. This will spur railroads income moving crude.

 

[Arnie]

Shale giants swear they won't drill more, even at $200 a barrel

 

[sebking1986]

We'll see. Money talks, unfortunately in this case.

 

[smallfil]

All time high for oil is something like $147. Thats only $30 from the current price level. There are predictions that oil will hit $200

Hyperinflation for the US and Europe is around the corner. Commodities prices are also, rising. Ukraine exports a lot of commodities to the US and Europe. That supply could be cut for a long time. Unintended consequences of the sanctions is that the US and Europe will pay sky high prices for oil and commodities, if not already.

 

[piezoe]

Shale giants swear they won't drill more, even at $200 a barrel

This article was written before the War.