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Yo_Mama_Been_Loggin

(108,033 posts)
Thu Oct 28, 2021, 09:28 PM Oct 2021

Rising U.S Oil Stockpiles Send Oil Prices Tumbling

Oil prices plunged to their lowest level in two weeks on Thursday after Iran said talks on its nuclear program would resume by the end of November. U.S. crude inventories rose far more than expected, as well.

According to the U.S. Energy Department, crude oil stocks rose by 4.3 million barrels last week, more than twice as much as analysts expected.

In addition to a rise in crude oil imports, refinery processing also slowed, contributing to the large stock build.

The rise in cases in western Europe and the outbreak of COVID19 infections in China weighed on prices. Moreover, the threat of lockdowns in Russia and the record deaths in China also weighed on prices.

https://finance.yahoo.com/news/rising-u-oil-stockpiles-send-132243222.html

Oh nos the poor oil companies.

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Rising U.S Oil Stockpiles Send Oil Prices Tumbling (Original Post) Yo_Mama_Been_Loggin Oct 2021 OP
Without refining picking up, gas prices will remain high. BlueTsunami2018 Oct 2021 #1
The oil companies.... SergeStorms Oct 2021 #2

BlueTsunami2018

(3,492 posts)
1. Without refining picking up, gas prices will remain high.
Thu Oct 28, 2021, 09:41 PM
Oct 2021

I realize the President has nothing to do with the price of gasoline but most people do not.

SergeStorms

(19,201 posts)
2. The oil companies....
Thu Oct 28, 2021, 09:50 PM
Oct 2021

are going to make up all the money they couldn't extract from us during the COVID shutdowns. One way or another, they're going to realize the profits they lost when people weren't driving.

They would have done this even if Chump would have won re-selection. They're always going to get theirs, right up until they squeeze the last drop of crude oil from the planet.

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