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paleotn

(23,234 posts)

3. And the oil glut from this winter is gone. Oil stockpiles are at historic lows.

Thu Jul 9, 2026, 05:05 PM

15 hrs ago

I read that Chinese firms have been more of less out of the oil market in recent months, drawing on PRC reserves. Those reserves are down significantly. When that 800 lb gorilla starts hoovering up available crude, oil prices will spike. It seems Wil E. Coyote has run off the cliff and reality will set in shortly.

Gas is back above $4 here today despite the futures market. Still a full 25% above prices last Feb. How's that for inflation.

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Midnight Writer ananda

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Highlight:

Oil tanker traffic through Hormuz at near standstill as attacks strain Iran truce [View all] BumRushDaShow 15 hrs ago OP

Yet crude prices are down and the stock market is up. I can't figure it out. Midnight Writer 15 hrs ago #1

Because this is market manipulation WSHazel 15 hrs ago #2

And the oil glut from this winter is gone. Oil stockpiles are at historic lows. paleotn 15 hrs ago #3

1) Reserves are being tapped SamuelTheThird 14 hrs ago #5

THERE IS NO TRUCE!! Miguelito Loveless 15 hrs ago #4

I don't suppose Reuters intended "attacks strain Iran truce" to sound like a bad joke William Seger 14 hrs ago #6

Bethlehem Pa, Sheetz station. Gas went up .40 per gallon from yesterday. 3Hotdogs 14 hrs ago #7

"strain Iran truce"??? pat_k 14 hrs ago #8