Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war.

West Texas Intermediate jumped 17%, or $15.32, to $106.22 per barrel. Global benchmark Brent advanced 15%, or $14.28, to $106.92. U.S. crude oil surged about 35% last week in its biggest gain in futures trading history dating back to 1983. The last time oil prices topped $100 per barrel was after Russia invaded Ukraine in 2022.

Shortly after oil blasted past $100 at the open of trading Sunday evening, Donald Trump posted on Truth Social that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat.

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37 comments in c/politics@lemmy.world view that post
[–] 42 points 8 months ago (5 children)

So it's kind of like a carbon tax, but only higher.

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

    Oh man I long for the days where we were worried about the carbon tax......

    It's a small comfort, knowing if this war doesn't spiral and kill us all, or if AI doesn't kill us all, or if disease doesn't kill us all, or MAGA doesn't kill us all..... there will still be catastrophic climate change waiting to.... kill us all.

    Just wait until somewheres around July. I predict we see the lowest arctic ice extent on record, followed immediately by El Nino and panic around wintertime when we realize the ice free summers are now upon us in the arctic.

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  • [–] 8 points 8 months ago

    panic around wintertime when we realize the ice free summers are now upon us in the arctic.

    Literally what Putin and Trump are looking forward to, opening up those northeast and northwest passages.

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

    Can't wait to see stickers of trump and "I did that" on the gas pumps...

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

    Does expensive oil help Russia? I presume that it would. Probably doesn't hurt the Muskrat either.

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

    Small price to pay… besides the US bases being targeted by missiles, the billions in defense hardware being used, refineries in neighboring countries being targeted and hit, the economy under further seige, and we haven’t yet been hit by the price increases due to transportation costs of goods.

    Yeah. He left all of that out.

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

    Also it was a small price to pay for defeating Iran , something that hasn't been achieved yet.

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

    There is no way USA will defeat Iran in any meaningful sense.
    If USA put boots on the ground, it will be many times worse than Afghanistan.

    First: There are even more hiding places in the mountains of Iran than in Afghanistan, and the population is twice as big. And the area 2½ times bigger.

    Second: Iran is way better organized, and has several big well trained organizations that can be made ready for guerrilla war almost instantly.

    Third: I very seriously doubt any traditional allies to USA will be willing to support such an action. so USA will be on their own. If Israel goes in too, it will probably only make it worse.

    Fourth, there is no organized support for the invaders as USA and the allies had in Afghanistan where it was supported by the reigning government.

    It's very doubtful the war can be won from the sky, it's simply never been done! So the outlook for USA winning this war is bleak to put it mildly.

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  • [–] 19 points 8 months ago

    Funny, Iran never bothered me before but NOW it's really bothering me.

    Trump did THAT.

    What that man says and what that man does is two different things.

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  • [–] 37 points 8 months ago
    [–] 13 points 8 months ago

    i mean yeah it sucks for us but chevron's doing great. can't you see the big picture

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  • [–] 13 points 8 months ago*

    Small price to pay for covering up your involvement in the Epstein files you pedophile

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  • [–] 12 points 8 months ago

    Epstein files?

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  • [–] 9 points 8 months ago

    Anyone got any "I did that!!" stickers with Trump's dumb face on them?

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  • [–] 9 points 8 months ago

    Nothing says making affordability a priority like spiking gas prices with no end in sight.

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  • [–] 9 points 8 months ago

    It's so easy for the child fucker to say that when I pay for his fuel usage.

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  • [–] 8 points 8 months ago

    He's not the one paying

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

    Small price to pay for distracting people from the Epstein files.

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  • [–] 3 points 8 months ago*

    Doesn't even matter if it's big or small, when he is making others pay. The price is small to him, and that's all that matters to him.
    The cost to the global society and USA is already HUGE! And obviously the price is worst for the Iranian population.

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  • [–] 5 points 8 months ago

    Can we please increase the cost of oil without committing atrocities?

    How about adding a 5% carbon tax every year. Use that funding for busses and trains.

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

    It's the same price we paid for war with Iraq which took about 20 years to become a stable and self-functioning state.

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  • [–] 3 points 8 months ago

    When others cause issues, it's because they are incompetent. When I cause issues, there's a really good reason

    Rules for thee, not for me

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

    Full related tweet:

    Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!President DJT

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  • [–] 6 points 8 months ago

    Iran's nuclear threat that they claimed to have utterly obliterated with their bombing last year? That threat again? The one Netanyahu has said is just weeks away every year since 1995?

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  • [–] 2 points 8 months ago

    Iran ain't never did shit to me.

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  • [–] 2 points 8 months ago

    Someone needs to make a "how it started, how it's going" for this.

    But Donvict started with an economy that was the envy of the world, bitched and whined and howled with brazen lies about it, claiming, with no evidence, it was the "worst EVAR". Now it's a year+, and he's saying making the economy worse is worth it.

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  • 29 comments in c/news@lemmy.world view that post
    [–] 45 points 8 months ago (2 children)

    I dunno, I mean, this just makes me even more enraged about the Epstein Files.

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

    If you're now outraged about the accusations of paedophilia than a pointless war that has already cost many dead and is causing global economic turmoil, your priorities are fucked. This is the new worst thing he's done

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

    Everyone but the guilty pay the Epstein Tax.

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  • [–] 29 points 8 months ago* (last edited 8 months ago) (2 children)

    It wasn't a war but a quick special operation, lasting a few days top, since they were destroying everything by air.

    Then they started saying that maybe a few special forces would put boots on the ground but it was going to be fast.

    Now, the oil is raising but it will be a matter of "weeks, not months" before it turns back normal.

    I kinda like how the optimism is slowly fading. Let's see how long before they start talking of "months, not years".

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  • [+] 24 points 8 months ago (3 children)
  • [–] 14 points 8 months ago (2 children)

    Where’s all that Venezuelan oil?

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  • [–] 10 points 8 months ago

    Still sitting there because so far no US company is moving in to do anything about it because they don't want their contractors heads lopped off. And no other country with oil producing capabilities are going in because it would be a competitor for them.

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  • [–] [S] 27 points 8 months ago

    What a fucking MORON!!!!!!!!

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  • [–] 9 points 8 months ago

    War is going great for oil and weapon companies racking $$$billions . Why would they stop?

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  • [–] 9 points 8 months ago

    Now that gas is going up, everything you buy will cost more. Tariffs + war oil prices = President Pedo is fucking everyone 24/7.

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

    Operation Epic Temper Tantrum.

    This is the idiot nepobaby manchild actively throwing the most destructive hissy fit in the history of the world.

    And he knows that is what he is doing.

    And, he knows that we know that is what he is doing.

    ... and we're all just letting him do it.

    Because "what're you gonna do about it?"

    Mob boss shit.

    He has a fuck ton of nukes, by the way.

    Had to be talked out of nuking a hurricane, in his first term, back when he had staff that would push back against him, before he started stroking out, wondering aloud if he would make it into heaven.

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  • [–] 6 points 8 months ago

    I guess that's one way to get a carbon tax

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  • [–] 5 points 8 months ago

    A price he and his sycophants won’t pay. Trump yet again running up a bill he’s going to make someone else eat.

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  • [–] 3 points 8 months ago

    Small price to pay to distract from Epstein

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

    When is the last time that fat fuck bought gas? I don't mean in some golf course budget, I mean when was the last time he got his own fat ass out of a car he was driving to pump his own gas?

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  • [–] 1 point 8 months ago

    And you just know that somewhere, somehow, Trump and his cronies are making massive amounts of money from this.

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

    Anyone got any "I did that!!" stickers with Trump's dumb face on them?

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