Today's WTI Crude Oil Price
- Thread starter gfm7175
- Start date
gfm7175
Jesus is LORD!
Honestly, I care more about Brent, which is $73.57. That is lower than where I need it for my little investment to work. They are using the last of the reserves to keep it that low. If trump can keep the Strait open, there will be a glut in July, and it might even go below $70... If trump can keep the Strait open, the price spike comes in November... Which is too late for me.
gfm7175
Jesus is LORD!
That's great and all, but it avoids the question of where is the $200 oil? WTI is under $70... Brent is slightly above $70... neither are anywhere near $200 ...
Gas prices are already coming down, and they never got as high as they did in 2022.
Inflation for all other goods is out of control!
gfm7175
Jesus is LORD!
Inflation is low, especially compared to 2022, and has never gotten anywhere near as high as 2022. It quite simply isn't the end of the world. Sorry.
I have not touched WTI, because that is too hard to predict. I did say that Brent was going to $130, not $200. It did get to $126, but not $130... yet.
What happened? Massive releases of oil reserves, combined with rationing in Asia, and getting some of the oil out by alternative means, pushed down prices. It is mostly the massive release of oil reserves, and they are almost spent now(outside of China). That means trump is willing to give Iran anything to get the Strait open. It appears $324 billion was enough to get the Iranians to agree to open the Strait, and to soon start charging a fee.
As the ships carry their oil of of the Gulf, it will cause a glut on the Brent market. Oil prices might go lower. That will be followed by months of difficulty getting the oil transportation system working again, and Brent going above $130...
And all that assumes Iran will play nice, and accept their win. There is a real chance they will continue to mess things up.
Inflation is 4.2%, which is considered high, not low. Inflation spiked in 2022, but then dropped down to nearer good rates. The last 1% was difficult to get rid of, and we have spent the last three years desperately trying.
It is spiking again. In just three months, it doubled. trump is pushing for inflationary policies, and there is a real chance inflation will not be fought this time.
It is impossible to know whether it will go past 2022, and into double digit inflation, but we are traveling in a very bad direction right now.
In dark ages this bad what is claimed on paper almost never is seen in reality.
Buckle Up!
I am going to agree with you on one point, that the inflation numbers are highly unreliable. There is a huge amount of shrinkflation that is not being taken into account. There is also very poor data collection going on. trump missed an entire month of data collection, and is missing huge amounts of the data every month. Finally, the process should be tightened up every 5 to 10 years, but it has been nearly 30 years since it has been tightened up.
Inflation is higher than the 4.2% that is being claimed.
Its all lies.
That is where we disagree. It is highly deceptive, but not an actual lie.
Everything is a scam and everything is a lie, yet you continue to comply.
Most of the people in power have learned how to be deceptive without lying. trump is the obvious exception.
Scams and lies have been part of empire millennia before Trump.
gfm7175
Jesus is LORD!
I'm sorry, but this is comedy gold. Inflation is low. The figure you're looking at only increased somewhat lately due to oil. You really need to look at such data "below the hood" instead of just the surface number. If you did, then you'd see that inflation is actually quite low outside of energy (oil related).As much as you desperately want there to be bad news, there just isn't any. Oil prices are coming down. Gas prices are coming down. That's because the increase was actually transitory (instead of like the Autopen Regime's lie about it).