Crude oil jumps 20%

[bobk]

Overnight , and I'm empty

 

[Phil P]

Overnight , and I'm empty

What’s the cause?

The jump that is, not you been empty

 

[bobk]

What’s the cause?

The jump that is, not you been empty

Saudi oil fires

 

[Hindsight]

What’s the cause?

The jump that is, not you been empty

Todays headline in The Times says it all

Iran tells US it is ready for ‘fully fledged war

 

[czechmate]

That’s quite a jump.

 

[deleted user 837354]

Houthi rebels in Yemen hit 2 Saudi oil processing sites last week. These may take months to repair.

 

[Dave6170]

A drone attack news saying

 

[Formatted]

Two plants that process 5% of the world's oil supply have been damaged and the market doesn't know how badly yet

 

[icanshootwell]

Out of red here to, hoping the price hike won,t happen till end of week.?

 

[Brisel]

Out of red here to, hoping the price hike won,t happen till end of week.?

Hahahahaha

 

[milkloss]

Saudi has enough stored to supply what they were for a month and the US is prepared to dib into reserves to ensure supply.
Don’t see what the worry is.

I know my diesel man will try to weasel the price up but I’m going to slap the beggar if he does. Constantly getting the ‘that’s what we bought it for’ line when the price is/should be going down.

 

[br jones]

Donald has ordered the release of some reseves ,the price is coming back down

 

[midlandslubricants]

Hopefully our prices won't be affected.
https://www.midlandslubricants.co.uk

 

[Smith31]

It often makes me laugh when folk on here who still live in the 70's believe that we are self sufficient and need no one.

People forget how small the world has become and how reliant we are on others, if there was a war in the middle east resulting in a fuel shortage, restricting imports, there would be civil war within a week.

The Chanels and Chantelles from the local estate would be looting our farms and we would be powerless.

 

[M-J-G]

Glad I filled everything last week.

 

[Hindsight]

How safe will those tankers be leaving the Straights of Hormuz. A rerun of the tanker war maybe in the offing. Hey ho 'events dear boy, events'

https://en.wikipedia.org/wiki/Operation_Earnest_Will

 

[Phil P]

It often makes me laugh when folk on here who still live in the 70's believe that we are self sufficient and need no one.

People forget how small the world has become and how reliant we are on others, if there was a war in the middle east resulting in a fuel shortage, restricting imports, there would be civil war within a week.

The Chanels and Chantelles from the local estate would be looting our farms and we would be powerless.

I know it’s a global commodity (like wheat?) but don’t we use north see oil?
So why would we have a shortage/be affected by Iran oil? (Other than price)

Apologies if that’s a stupid question?‍

 

[Highland Mule]

I know it’s a global commodity (like wheat?) but don’t we use north see oil?
So why would we have a shortage/be affected by Iran oil? (Other than price)

Apologies if that’s a stupid question?‍

We will, for some grades. But the price is dictated by global supply and demand. Or do you expect the N Sea producers to sell to us for less than they can sell elsewhere?

 

[Phil P]

We will, for some grades. But the price is dictated by global supply and demand. Or do you expect the N Sea producers to sell to us for less than they can sell elsewhere?

I can understand price change (as Is stated) it’s the supply issue that smith31 was talking about.

 

[Smith31]

Regardless of our own use, the majority of the things we import are delivered using middle eastern oil, if the supermarket shelves became empty civil war wouldn't be far behind. Hope it never ever comes to that