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[–] 12 points 8 months ago* (2 children)

Fuckall. Iran isn't in a position to do much of anything, and the rest prefer stability and even benefit from a potential rise in crude prices.

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  • [–] 7 points 8 months ago

    Line will go up, up, and farther up.

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  • [–] 1 point 8 months ago

    The hokey pokey

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  • [–] 1 point 8 months ago

    What can they do? US is a net exporter of crude since they figured out fracking.

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  • [–] 1 point 8 months ago* (last edited 8 months ago)

    OPEC+ already announced an increase in production to keep prices down.

    Close of Friday was $60/barrel. Futures markets have them at $69 late on Sunday.

    I doubt we’ll see anything in the $100 range. Too much cheap shale oil from the US and heavy, dirty crude from Venezuela having a market in the gulf should absorb major supply side shocks

    Edit 00:04 UTC

    Early market moves in East Asian are seeing +8% from Friday’s close at $72 and $79 (different oil grades). But this might be overreaction in the east as we wait to see what happens when the Middle East wakes up. It’s still 3AM in Riyadh, so it’s slow news coming out of Saudi Arabia

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  • [–] 1 point 8 months ago

    Put oil prices up

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