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WTI Crude crossed above $70; and Brent Crude crossed above the $80 mark
Posted on 3/2/26 at 8:23 am
Posted on 3/2/26 at 8:23 am
WTI crossed the $70 mark for first time in seven months, and Brent crossed $80 for the first time since January 2025.
LINK
quote:
Oil futures surged on Monday as traders took stock of an escalating US-Iran conflict in the Middle East that is increasingly threatening energy infrastructure in the region.
Brent crude futures (BZ=F), the international benchmark, jumped 13% to trade above $82 per barrel in the first minutes of open trading, before paring back to $79. Meanwhile, US benchmark West Texas Intermediate crude futures (CL=F) moved up over 8% to around $72 per barrel.
Brent is trading at levels not seen since January 2025 as the conflict spreads quickly through the Gulf region, while WTI has reached levels not seen since 2025’s “12-day war” between Israel and Iran.
LINK
12
Posted on 3/2/26 at 8:24 am to ragincajun03
It will drop within a couple weeks
Posted on 3/2/26 at 8:24 am to ragincajun03
Truck Nuts [On] Off
Posted on 3/2/26 at 8:27 am to ragincajun03
Who gives a shite! What about crawfish prices?
Posted on 3/2/26 at 8:45 am to ragincajun03
I see 7 percent rise as showing experts see this as ending quickly.
If they though the Strait of Hormuz or major ports were to affected for long periods the price rise would have run at least well into double digits today.
If they though the Strait of Hormuz or major ports were to affected for long periods the price rise would have run at least well into double digits today.
Posted on 3/2/26 at 8:55 am to VernonPLSUfan
You already know the answer to that question.
Posted on 3/2/26 at 9:03 am to ragincajun03
About to be a global supply problem and the Iran conflict is the cover-up. Gas prices and the Saudi refinery fire check out as well. Given everything else, e.g. the EV revolution, wouldn’t shock me if we’re approaching peak oil territory and it’s not being revealed to stop morons from hoarding fuel/exacerbating the problem
Posted on 3/2/26 at 10:23 am to SECCaptain
quote:
About to be a global supply problem and the Iran conflict is the cover-up. Gas prices and the Saudi refinery fire check out as well. Given everything else, e.g. the EV revolution, wouldn’t shock me if we’re approaching peak oil territory and it’s not being revealed to stop morons from hoarding fuel/exacerbating the problem
The R/P ratio has stayed surprisingly stable around 40–50 years for decades because reserves keep getting added faster than we use them up.
Posted on 3/2/26 at 10:45 am to ragincajun03
Rich O&G baws trading in 2025 F350s for 2026 ones
Posted on 3/2/26 at 10:50 am to Cell of Awareness
quote:
I see 7 percent rise as showing experts see this as ending quickly.
7%?
Are you counting just since the conflict started and not taking into account the price increaes leading up to the conflict?
Posted on 3/2/26 at 10:55 am to VernonPLSUfan
quote:
Who gives a shite! What about crawfish prices?
Sir, you should already know the answer to this question. If the sun is shining or there is at least 1 cloud in the sky, you better bet you arse those prices are going to rise.
Posted on 3/2/26 at 11:51 am to fightin tigers
JPMorgan now with the $120/bbl fear-mongering.
LINK
quote:
JPMorgan Chase has warned that Brent crude oil prices could spike to $120 per barrel if a full-scale conflict in the Middle East leads to a sustained disruption of oil flows through the Strait of Hormuz, estimating that Gulf producers can only sustain normal production for roughly 25 days if the Strait is completely blocked, after which saturated storage would force a total shutdown of regional production.
LINK
Posted on 3/2/26 at 12:22 pm to ragincajun03
Posted on 3/2/26 at 2:02 pm to ragincajun03
Wouldn’t that be a massive boon to Louisiana’s economy?
Posted on 3/2/26 at 2:13 pm to kingbob
quote:
Wouldn’t that be a massive boon to Louisiana’s economy?
Ehh…a sudden jolt up to $120 that then crashes back down would do more harm than good to overall industry and consumers, in my unprofessional opinion. Just give us a steady, predictable $70-80.
Posted on 3/2/26 at 3:38 pm to SECCaptain
quote:
About to be a global supply problem and the Iran conflict is the cover-up. Gas prices and the Saudi refinery fire check out as well. Given everything else, e.g. the EV revolution, wouldn’t shock me if we’re approaching peak oil territory and it’s not being revealed to stop morons from hoarding fuel/exacerbating the problem
That’s.. dumb.
Posted on 3/2/26 at 7:33 pm to Cell of Awareness
But apparently producers are taking advantage hoking gas prices $.60/gal over night for a shortage that doesn’t exist.
Posted on 3/2/26 at 7:50 pm to SECCaptain
quote:
About to be a global supply problem and the Iran conflict is the cover-up. Gas prices and the Saudi refinery fire check out as well. Given everything else, e.g. the EV revolution, wouldn’t shock me if we’re approaching peak oil territory and it’s not being revealed to stop morons from hoarding fuel/exacerbating the problem
This can’t be a real opinion?
Posted on 3/2/26 at 7:51 pm to ragincajun03
Gas prices and crawfish prices about to go biblical
Posted on 3/2/26 at 7:54 pm to ragincajun03
Elections have consequences.
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