Price Check in the Gas and Diesel Aisle...

#1,153
WTI Crude • 79.86 +1.47+1.88%
Brent Crude • 85.33 +1.30+1.55%
TotalEnergies
1673649885491.png





https://oilprice.com/Energy/Natural...y-LNG-To-Germanys-Newest-Import-Terminal.html
 
#1,157
When WTI is North of $80 then forget about Inflation being under control and prices of goods coming down.
The Bean counters are going to win this round over the career politicians / propaganda
WTI Crude • 80.15 +0.67+0.84%
Brent Crude • 85.86 +0.88+1.04%

At the start of 2023, the main U.S. oil lobby resumed calls on the Biden Administration to increase access to domestic oil and gas resources, reform the permitting process, and reverse the hostile rhetoric toward the industry, which could bolster America’s energy security if given the right incentives to do so. The American Petroleum Institute (API) issued a report outlining a plan for the 118th Congress to “make, move and improve America’s energy.”
“As consumers face growing energy costs, API urges policymakers to take a more realistic approach and ensure that American natural gas and oil are prioritized as long-term strategic assets,” the oil lobby said.
The U.S. has the resources to ensure homegrown production of oil and gas, which in turn would ensure that America doesn’t deepen its reliance on foreign resources, according to API.
https://oilprice.com/Energy/Energy-...rgy-Crisis-We-Need-More-American-Oil-Gas.html
 
#1,159
WTI Crude • 81.04 +0.71+0.88%
Brent Crude • 86.84 +0.68+0.79%



On the bearish side, there are the continued signs of weakness in the U.S. economy, with the latest updates including a drop in retail sales that suggests inflation remains problematic, and the likelihood that the U.S. manufacturing sector entered a recession in the final quarter of 2022.
oilprice.com

Oil Prices Set For Another Weekly Gain As Chinese Demand Rebounds | OilPrice.com

Oil prices are set for another weekly gain on optimism that China’s demand will rebound, with WTI breaking the $80 mark
oilprice.com oilprice.com
 
#1,164

2022 FOMC Meetings​

January 25-26

I'm hoping for, at least, another 0.50% increase in interest. All a 0.25% increase will do is to prolong the agony into 2024.
Now, with the price of gasoline increasing, along with everything else, the next CPI report should show inflation is still going up... Unless they "cook the book's".
The Consumer Price Index for January 2023 is scheduled to be released on Tuesday, February 14, 2023, at 8:30 a.m. (ET)
 
#1,167

Pump Prices Surge as Gasoline Demand Rises​


January 23,2023

WASHINGTON, D.C. (January 23, 2023)—Drivers appear to be taking advantage of the recent milder weather in much of the nation by fueling up and hitting the road. The increase in gasoline demand and slightly more expensive oil pushed the national average for a gallon of gas higher by 12 cents since last week to $3.42.
“The recent rising temperatures led to rising pump prices,” said Andrew Gross, AAA spokesperson, “And with the cost of oil hitting $80 a barrel, there is a lot of upward pressure on gas prices at the moment.”


 
#1,169
After an initial dip, the oil price rally has been a steady grind upwards in the current year, with the last 12 trading days seeing 10 days of higher intraday highs and 11 days of higher intraday lows. Brent is currently trading at $87.50 per barrel (as of Jan 26 at 12:24p.m. EST)--more than $10 from this year’s low. And now commodity analysts at Standard Chartered are saying that positive speculative sentiment in the oil markets can support prices above $90/bbl.
oilprice.com

Why Oil Won’t Trade Above $100 This Year | OilPrice.com

Commodity analysts at Standard Chartered say that the rally is likely to take Brent prices past $90/bbl, though they are not optimistic that the fundamentals are strong enough to sustain prices above USD 100/bbl
oilprice.com oilprice.com
 
#1,172
SINGAPORE, Jan 30 (Reuters) - Oil prices climbed in early Asia trade on Monday, supported by tensions in the Middle East following a drone attack in Iran and as Beijing pledged over the weekend to promote a consumption recovery which would support fuel demand.

Brent crude futures rose 54 cents, or 0.6%, to $87.20 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $80.22 a barrel, up 54 cents, or 0.7%.

Israel appears to have been behind an overnight drone attack on a military factory in Iran, a U.S. official said on Sunday.
www.reuters.com

Oil falls 2% as rate hikes loom and Russian flows stay strong

Oil prices dipped 2% on Monday, extending losses as looming increases to interest rates by major central banks weighed on demand and Russian exports remained strong.
www.reuters.com www.reuters.com
 
#1,173
ExxonMobil (NYSE: XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever.
Exxon said today it generated earnings of $55.7 billion and $76.8 billion of cash flow from operating activities in 2022 “by leveraging an advantaged portfolio and delivering strong operational performance.”
High oil and gas prices were the key reasons for higher profits at Exxon, which beat its own annual earnings record of $45.2 billion from 2008 – when oil prices hit a record $142 per barrel – and posted the highest-ever annual profit by a major Western oil firm.

oilprice.com

Exxon Posts Highest Profits In Western Oil Company History | OilPrice.com

On Tuesday, ExxonMobil reported the highest earnings of any Western oil company in history at $55.7 billion
oilprice.com oilprice.com
 
#1,174
Hobo Hilton said:
ExxonMobil (NYSE: XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever.
Exxon said today it generated earnings of $55.7 billion and $76.8 billion of cash flow from operating activities in 2022 “by leveraging an advantaged portfolio and delivering strong operational performance.”
High oil and gas prices were the key reasons for higher profits at Exxon, which beat its own annual earnings record of $45.2 billion from 2008 – when oil prices hit a record $142 per barrel – and posted the highest-ever annual profit by a major Western oil firm.

oilprice.com

Exxon Posts Highest Profits In Western Oil Company History | OilPrice.com

On Tuesday, ExxonMobil reported the highest earnings of any Western oil company in history at $55.7 billion
oilprice.com oilprice.com
Click to expand...
I wonder if ExxonMobil will start building refineries in Saudi Arabia; since the US is against fossile fuels.
 
#1,178
BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world’s oil majors that is fueling calls for higher taxes on the windfall gains.
The British energy company also announced Tuesday that it would invest more in oil and gas over the course of this decade, while reducing its carbon emissions by less than previously planned.
BP said in a statement that underlying replacement cost profit rose to $27.7 billion in 2022 from $12.8 billion the previous year. The metric is a key indicator of oil companies’ profitability.
The profits top the company’s previous annual record of $26.3 billion, achieved in 2008.
BP (BP) also unveiled a further $2.75 billion in share buybacks and hiked its dividend for the fourth quarter by around 10% to 6.61 cents per share.
BP’s shares rose 6% in Tuesday trading following the news. Over the past 12 months, its shares have soared 24%.
The earnings are the latest in a string of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of skyrocketing oil and gas prices.

www.cnn.com

BP posts record profit and boosts investment in oil and gas

BP's annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world's oil majors that is fueling calls for higher taxes on the windfall gains.
www.cnn.com www.cnn.com
 
#1,180
Back during the Obama years, every time he proposed gun control, everyone went out and bought more guns. The saying was "Obama is the best gun salesman this world has ever seen"....
Today, the best "Oil Salesman" is the Go Green movement. The more people that hop on the Go Green band wagon, the higher the price of gasoline goes.
_________________________
TotalEnergies (NYSE: TTE) saw its net profit double in 2022 to a record $36.2 billion and announced an increase in dividends and share repurchases after the best annual results for the company and for Big Oil ever.
The French supermajor reported on Wednesday $36.2 billion in adjusted net income for 2022, double from a year earlier, thanks to higher oil and gas production, higher prices, a jump in LNG sales, and what it described as a “historic” performance in the downstream segment.
oilprice.com

TotalEnergies Doubles Profits In Its Best Year Ever | OilPrice.com

TotalEnergies rounded out a record-breaking earnings season for big oil, the company announced an increase in dividends following its best results ever
oilprice.com oilprice.com
 
#1,184
Russia cut it's output. It probably bought a bunch of contracts at the low price, cut it's output, now it's going to sell those.
Fkery is at play.

www.breitbart.com

Oil rises as Russia cuts output after Western price cap - Breitbart

Oil contracts rebounded Friday after Russia slashed its crude output in response to a Western price cap that was imposed on exports after Moscow's
www.breitbart.com www.breitbart.com
 
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#1,188
Sanctions have redirected Russian energy flows from Europe to Asia. The rejiggering of supply chains means Russia has to rely more on tankers. According to Bloomberg, this has led to a 400% surge in the daily rates for clean product tankers.
The latest data from the Baltic Exchange in London shows clean product tankers rates have reached $55,857 per day, surging 58% just last Thursday.

oilprice.com

Tanker Rates Soar 400% On Latest Round Of EU Sanctions On Russia | OilPrice.com

Tanker rates have jumped by 400% following the latest round of EU and G-7 sanctions targeting Russian petroleum exports
oilprice.com oilprice.com
 
#1,191
BullGear said:
How low will gas go before the election cycle begins?
Click to expand...
Cost of gasoline is the "Loss Leader"...
Cost of diesel is what is hitting consumers in the pocket book... Those transportation planes, trains and trucks are eating up some expensive fuel and passing it on down the line. Propaganda has everyone focused on the EV's that will save the world.
 
#1,193
Hobo Hilton said:
Cost of gasoline is the "Loss Leader"...
Cost of diesel is what is hitting consumers in the pocket book... Those transportation planes, trains and trucks are eating up some expensive fuel and passing it on down the line. Propaganda has everyone focused on the EV's that will save the world.
Click to expand...

I don't know if "loss leader" is the correct term, it is what every soccer mom sees when she fills up the car after practice. Very few think of what it takes to get that ear of corn to the grocery store. The "farms are bad" people are clueless. The ones that put that idea in their head are evil.

I just read a story that stated in england they ran diesel generators to power the deice equipment on the solar cells and wind turbines. The story got out had about a 3 sec shelf life and went away. It is quite funny along the lines of the people using a generator to charge up their electric car.
 
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#1,194
fpgt72 said:
I don't know if "loss leader" is the correct term, it is what every soccer mom sees when she fills up the car after practice. Very few think of what it takes to get that ear of corn to the grocery store. The "farms are bad" people are clueless. The ones that put that idea in their head are evil.

I just read a story that stated in england they ran diesel generators to power the deice equipment on the solar cells and wind turbines. The story got out had about a 3 sec shelf life and went away. It is quite funny along the lines of the people using a generator to charge up their electric car.
Click to expand...
Diesel is increasing in price faster than gasoline. Cheap gasoline is good for the politician's. Most American's never look this deep.

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