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Wednesday, August 10, 2022

Markets Think Biden Administration Faked Gas Demand Data To Force Prices Down

WTI crude has lost ~9.5% over the previous week, landing at $89.26/bbl, losing essentially all the gains it had made since Russia invaded Ukraine. It was the largest one-week percentage decline since April, amid growing fears that oil demand could collapse if there were to be a full-blown recession.
-WiscoDave

8 comments:

  1. Brandon would never do anything like that.....

    Melk

    ReplyDelete
    Replies
    1. He ain't smart enough to put his suit jacket on let alone utter an understandable sentence, so the gas manipulation ploy was handed down through channels from his puppeteer Obama.

      Delete
  2. I think I've pointed out oil is $15/bbl cheaper than inauguration day, yet gasoline is twice the price.

    Funny how that works.

    ReplyDelete
    Replies
    1. Not really. When you are shipping it to the EU, in support of the Ukraine, then we have a shortage here and the price is high.

      Steve

      Delete
    2. On Jan. 20, Brent crude cost $55.66 a barrel and West Texas Intermediate cost $53.16 a barrel.
      Right now Brent is $97.05 & WTI is $91.57

      Delete
  3. Well, it could be a simple math error. Or shear incompetence. Or most likely, the actions of malevolent operatives trying to prop up the pretender to the Presidency while simultaneously trying to damage America.

    ReplyDelete
  4. The price should be dropping I’ve been driving truck for 43 years I’ve seen ups and downs crashes and booms during a crash that’s usually how I buy a decent used truck. All the hotshots get in finance them selves to the rafters volume slows down they can’t make payments the banks start unloading trucks like crazy. The workload for August is off by almost 100% compared to pre-pandemic levels. This is a Wednesday in August and I’m not working today nor is 70% of the fleet that I were Drive for. We are one of the largest regional carriers in the upper Midwest 100+ drivers are staying home today. That’s going to start pushing the price of diesel down supply and demand just like the pandemic. The question of whether the Biden administration is smart enough to do this how fucking yeah they want to maintain power for two reasons. Number one they think they’re entitled and smarter than the rest of us and number two if anybody else gets in there like Trump was it will show what shitheads they all are , old iron out

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  5. Biden administration is a shit-stain on America.

    ReplyDelete

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