Posted on Oct 4, 2024
Tensions are rising in the Middle East, but the rise in oil prices is muted – so far
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Although tensions between Israel and Iran are currently as serious as they have been for decades, said Sen, “the market has been completely brushing it aside.” LTC Eugene Chu Lt Col John (Jack) Christensen Maj Kim Patterson Maj (Join to see) MAJ Ken Landgren CPT Gurinder (Gene) Rana Capt Dwayne Conyers Capt Gregory Prickett MSgt Steve Sweeney MSG Stan Hutchison MSgt Michael Bischoff 1SG (Join to see) SSgt Richard Kensinger SP5 Dennis Loberger PO1 Tony Holland PO1 Brian Austin CPL LaForest Gray SrA John Monette A1C Medrick "Rick" DeVaney SPC Kevin Ford
Tensions are rising in the Middle East, but the rise in oil prices is muted – so far
Posted from npr.org
Oil
Oil and Energy
Middle East
Israel
Iran
Posted 1 mo ago
Responses: 4
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Lt Col John (Jack) Christensen
Gas prices are at record lows and trending downward. $3.08 per gal for regular when I filled up on Monday.
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SP5 Dennis Loberger
Lt Col John (Jack) Christensen Gas, long term is trending down. The price of crude oil has risen almost 10% to $78 so far as a result of the increasing Mideast dispute.
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PO1 William "Chip" Nagel
Lt Col John (Jack) Christensen SP5 Dennis Loberger It's Below $3 here in Possum Trot!
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SP5 Dennis Loberger
PO1 William "Chip" Nagel There is a time lag between the purchase of crude and the production of gas. There was discussion of Israel hitting oil fields. If that doesn't happen price increases will be not happening at our end
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For our nay-sayer LTC Brown:
"U.S. crude oil production averaged 13.3 million barrels per day (b/d) in December 2023, following sustained productivity increases at new wells, according to our latest Petroleum Supply Monthly (PSM). U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months. These record highs have come despite declining U.S. drilling activity because the new wells are more efficient."
https://www.eia.gov/todayinenergy/detail.php?id=61523
"U.S. crude oil production averaged 13.3 million barrels per day (b/d) in December 2023, following sustained productivity increases at new wells, according to our latest Petroleum Supply Monthly (PSM). U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months. These record highs have come despite declining U.S. drilling activity because the new wells are more efficient."
https://www.eia.gov/todayinenergy/detail.php?id=61523
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