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Oil at $130: Look Beyond Supply and Demand

taxfreelt

By taxfreelt
in General Forex Discussions

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taxfreelt Apprentice

taxfreelt

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Most everyone knows that oil and gasoline prices have been soaring, and this steady climb started well before the Russia-Ukraine conflict.

 

The upward trend began in April 2020, when oil prices briefly went negative, and it's continued ever since. These two headlines from recent months say the reason is supply / demand:

Oil Rises on Higher Demand Forecasts, Tight Supplies (Nov. 9, Reuters )

Oil rises to 7-year high as Turkey outage adds to tight supply outlook (Jan. 19, CNBC

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hamir Newbie

hamir

Posted
Posted
its 108+ right now...did some searching and if what i saw was accurate, biden started releasing the strategic oil reserves of the us today...

 

Hi totally irrelevant when they release like he says it's literally about a day and a half worth of US consumption, just smoke and mirrors on the administrations part

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