The price of oil is expected to soar on Monday while stock markets could tumble as the US-Israel war on Iran rattles investors.

US crude oil is on track to rise by 9% when trading resumes, according to data from the broker IG, after Tehran said on Saturday it had in effect closed the strait of Hormuz, a key oil choke point, reportedly prompting the halt of some oil shipments.

IG’s weekend markets showed that US crude oil could rise to more than $73 a barrel when trading resumes in New York late on Sunday, up from $67 a barrel on Friday night. That would be its highest level since June 2025, when the US launched strikes on Iran’s nuclear facilities, and threatens to feed through to higher prices for drivers at the pump.

Analysts at Barclays said the oil price could reach $80 a barrel in the event of a “material supply disruption”.

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[–] 22 points 8 months ago (1 child)
  • [–] 17 points 8 months ago

    Surely the US will be able to offset this with all that oil they… liberated… elsewhere this year…

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  • [–] 16 points 8 months ago (1 child)

    Grateful to have a bike with saddle bags and an EV for whatever’s coming. I hope others can fare the impending storm that was thrust upon them.

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  • [–] 7 points 8 months ago

    How else was Trump going to get his 'drill baby drill'?

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  • [–] 11 points 8 months ago (15 children)
  • [–] 11 points 8 months ago (7 children)

    Perfect for my 20 mile commute

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  • [–] 10 points 8 months ago* (last edited 8 months ago) (1 child)

    This is why urban sprawl (exasperated by car dependency) is killing our ability to get around independently.

    Urban density is the solution and something people should support (even those that choose to live in rural areas).

    With urban density comes better public transit, better public spaces, walkability, and shorter trips to work and shops.

    One of my biggest fears with getting old is loosing my independence. Having to be driven everywhere, with no other viable option of independent mobility, would effectively make me a prisoner in my own home in a American style Suburban neighborhood.

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  • [–] 3 points 8 months ago

    Urban density isn't the best solution. The greater the density, the greater the pressure for resources in a city (especially water), and the more fragile and dependent on imports it is.

    For a much better solution, look at medium-sized cities in the developing countries. The places are mostly walkable, have everything one needs in small to medium shops spread around, have rural areas in the vicinities that can support the place entirely, so thay're resilient to situations just like this one, with oil prices going up. Medium cities like that could be close to each other, with the populations fairly spread in medium-sized clusteres. That are many more benefits, like much less losses in energy transmission and in the food chain, but it would require a too long text to say it all

    Dense cities might look like less from oil, but they need a constant input of resources from far far away, being more dependent on oil and exposed to global instabilities than people think.

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  • [–] 2 points 8 months ago (3 children)

    Your work mates will love your stench as well.

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  • [–] 4 points 8 months ago (2 children)

    Don't know why you are being downvoted, hygiene is very important in the workplace.

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  • [–] -1 points 8 months ago*

    I mean if you're able to endure it, then that's great. Although I'm guessing not seeing how humans love to play weaker than they are, and drive a car or a princess pickup truck every time for their 2km grocery pickup run.

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  • [–] -1 points 8 months ago (6 children)

    Aint no way am I willing or even able to bike 50km to work each way in the winter.

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  • [–] -5 points 8 months ago* (5 children)

    Ok, @Gerudo did not provide a solution to a problem. But instead brought a problem to a solution.

    You are currently doing the same. Also 20 miles is 32km.

    Both of you, do better.

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  • [–] 3 points 8 months ago* (4 children)

    I am not changing my job to work closer to home, biking to work would be the literal death of me for cycling on the ringroad. Edmonton is NOT a pedestrian or Cycling friendly city. Not to mention it gets down to -40C in the winters.

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  • [–] 1 point 8 months ago (3 children)

    Your points about weather obviously stand as a massive blocker but regarding the road, wouldn’t it make sense to take a more direct route if you were mapping out a route for biking? That path is likely optimized for the speed of an automobile I would assume as that appears to be a highway (as someone who is not familiar with Edmonton or the Canadian highway system).

    Of course if those roads aren’t bike friendly, which you may have been referring to, everything goes out the window. Much easier when there are wide paths like you see in other bike friendly cities.

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  • [–] [S] 3 points 8 months ago (1 child)

    Winnipeg is probably just as bad as Edmonton for lack of alternatives to owning a car.

    I bought a robust e-bike late last summer, with the intention of riding it year-round. Then we got hit with a few storms and I realized city hall doesn't give a shit about clearing road shoulders for me to able to use them. Never mind the absolutely unridable sidewalks with mushy frozen ruts that have caused more than a few falls, one snapping my rear brake handle (thanks climate change).

    I gave up and have had to revert back to our astronomically shitty bus service or walking -- which is difficult because of multiple surgeries on my knee, ankle and shoulder.

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  • [–] 2 points 8 months ago

    That's a tough situation. I understand 100% your struggles, and none are your fault at all. It's beautiful you at least tried. Good job on that! Hopefully conditions are more favourable in the future.

    I'm hoping with enough e-bikers, the demand for oil and large vehicles will go down, and thus bring down the cost of them both -- and also improve the environment, peoples health, and happiness.

    Besides sometimes dealing with the occasional brain rot folks on public forums (which is weird, especially for Lemmy), there is every reason to be optimistic and supportive about adoption where it makes sense.

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  • [–] 0 points 8 months ago* (last edited 8 months ago)

    Killer57 doesn't get it. Not everyone will be able to use a bike, but many people can and should. And we should be encouraging the people who can. I bike during the winter with mountain bike like tires, and I'm fine. Of course the same cannot be said for everyone. Also winter is only 1 of the 4 seasons, and there are more bike destinations than only your job site.

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  • [–] 3 points 8 months ago

    Diddy I’m gonna need some of your oil to help with these rising gas prices! 🫲🍊🫱

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  • 15 comments in c/world@lemmy.world view that post
    [–] 7 points 8 months ago

    It would be very interesting if that ended stimulating alternate energy sources and lowering the USA influence globally

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  • [–] 17 points 8 months ago (12 children)

    Oh, so THAT is why Putin allowed Trump to invade Iran.
    The Russian economy is desperate in part because of low oil prices. I wouldn't be surprised if Putin sacrificed an ally, to increase the oil prices. Putin has absolutely zero conscience, just like Trump.

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  • [–] 9 points 8 months ago* (last edited 8 months ago) (11 children)

    You people are severely under overestimating Russia's leverage over the USA, especially compared to Israel.

    If Putin had that much power, he would have used it to keep Syria under Asad.

    This as as tone deaf as claiming Russia blew up their own oil pipeline in some 4d chess move.

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  • [–] 1 point 8 months ago (10 children)

    I think you are confused,you write we underestimate how much power Putin has over Trump, and then you write he doesn't have that much power.
    You are contradicting yourself, so which is it?

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  • [–] 2 points 8 months ago (7 children)

    He clearly meant 'overestimate'.

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  • [–] 1 point 8 months ago (6 children)

    Probably, but he is still confused, because there is a huge difference between keeping Syria under Assad and attacking Iran.
    So I was taking the piss, because he kind of begged for it.

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  • [–] 1 point 8 months ago (5 children)

    The point is that Putin does not control Trump. Putin likes Trump and is willing to help him where there's no conflict with Trump's interests but Putin doesn't have to allow Trump to do things.

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  • [–] 1 point 8 months ago (4 children)

    Putin likes Trump and is willing to help him where there’s no conflict

    You see the problem there? That's exactly the problem, because Trump helps Putin over and over again, where there are HUGE conflicts with American interests. While Putin has never compromised anything for Trump. It's a 100% one way relationship, that has ONLY helped Putin. In that relationship everything Putin does serves Putin alone, everything Trump does also helps Putin.

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  • [–] 1 point 8 months ago (3 children)

    Clearly not everything Trump does helps Putin. Attacking Venezuela and Iran does not help Putin at all. You're confusing American interests with Trump's interests. I specifically said that Trump is willing to help Putin as long as it doesn't impact Trump's interests. Trump will sacrifice Americans for Putin any day but he will not sacrifice his money.

    So as I said: Trump likes Putin and is willing to help him but Putin does not control him.

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  • [–] 1 point 8 months ago (2 children)

    So as I said: Trump likes Putin and is willing to help him but Putin does not control him.

    That is a form of control, so what we are debating is only degrees, not whether Putin is a significant influence on Trump.

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  • [–] 1 point 8 months ago (1 child)

    Yes, that's why we're saying you're overestimating this influence. Putin can influence Trump but Israel has much more influence. Putin didn't allow Trump to attack Iran. He wasn't asked at all.

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  • [–] 1 point 8 months ago*

    I think he was, I still think the Steel dossier was correct, that Putin has something on Trump, that he cannot allow to be revealed.
    Since we know Epstein worked for Russia, the most obvious suspicion is that Putin has tapes with Trump being "together" with minors.
    Trump has most certainly been acting that way for many years now. Including his entire first term presidency, and also the past year withdrawing all aid from Ukraine. Clearly against traditional American interests, and interests of many USA allies.

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  • [–] 2 points 8 months ago (1 child)
  • [–] 2 points 8 months ago

    I know, I was just making a bit of fun, but it's probably only me that find it funny. 😋
    I still disagree with you though,and I think your comparison with Syria is way off.
    It would be near impossible for Trump to make a case for suddenly turning 180° after years of supporting a regime change and then suddenly help Assad stay in power, while he can make sort of a case for attacking Iran. And it's been known that Trump has been very contrarian about Iran, and has already attacked Iran previously where he got away with it.

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  • [–] 2 points 8 months ago

    Ferengi Rules of Acquisition

      1. War is good for business.
      1. Peace is good for business.
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  • 1 comment in c/world view that post
    [–] 5 points 8 months ago