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Crude Prices Soar After Saudi Oil Disruption, Threatening Global Growth
wsj ^ | 9/15/2019 | By Amrith Ramkumar

Posted on 09/15/2019 3:33:13 PM PDT by RummyChick

Crude prices surged Sunday evening following an attack on Saudi Arabia’s oil infrastructure and announcement from President Trump that he has authorized the release of oil from the Strategic Petroleum Reserve.

U.S. oil futures advanced about 12% to $61.60 a barrel shortly after trading opened at 6 p.m. ET. Brent crude, the global gauge of oil prices, soared 13% to nearly $69 a barrel. If those moves held, they would mark some of the biggest intraday for crude in years.

...

(Excerpt) Read more at wsj.com ...


TOPICS: Front Page News; News/Current Events; US: Hawaii; War on Terror
KEYWORDS: djibouti; dronestrikes; energy; eritrea; hassannasrallah; hawaii; hezbollah; hydrocarbons; iran; lebanon; maga; mullahloversonfr; oil; oilprice; opec; putinsbuttboys; saudiarabia; sudan; tulsigabbard; waronterror; yemen
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behind a paywall
1 posted on 09/15/2019 3:33:13 PM PDT by RummyChick
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To: RummyChick

Trump will do the right thing and tap into the Strategic Petroleum Reserve. First time in 8 years.

More winning.


2 posted on 09/15/2019 3:37:47 PM PDT by Meatspace
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To: RummyChick

I knew something would happen. Gasoline prices broke below $2 per gallon last week here in the Ozarks...


3 posted on 09/15/2019 3:40:23 PM PDT by donozark (We Build the Wall Inc. (Check it out))
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To: Meatspace

stock futures are up about 10 handles off the lows on his tweets...so far

i could wake up tomorrow and it’s all over. Only thing I have in this chaos are NUGT calls I can’t do anything with until tomorrow.

if I wake up and gold is negative I am going to be hacked off


4 posted on 09/15/2019 3:40:45 PM PDT by RummyChick ("Pills, money .. this city is wicked. Your best friend will kill you here." Smoove about Baltimore)
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To: RummyChick

real time global commodities prices here:
https://bit.ly/2hRdSto


5 posted on 09/15/2019 3:41:03 PM PDT by CaliforniaCraftBeer
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To: RummyChick

Libertarian Robert J. Ringer (Looking Out For Number One author) said in the 1970s when gas prices per gallon reached a certain number the oil companies would suddenly find lots of oil reserves and the scare stories of “world will be totally out of oil by the year 2000——low energy future coming.” will end. He was right.

95% of oil supply okay and 5% cut off for a while——not an excuse for billions of dollars in price gouging.

Or to hurt President Trump’s economy for his re-election.


6 posted on 09/15/2019 3:43:29 PM PDT by frank ballenger (End vote fraud & harvesting,non-citizen voting & leftist media news censorship or we are finished.)
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To: RummyChick

Follow the money. Who wins with increased oil prices?

1. Saudi Arabia
2. Russia
3. Iran (Maybe)
4. USA oil producers.
5. Other Arabian concerns.


7 posted on 09/15/2019 3:46:13 PM PDT by Captain Compassion (I'm just sayin')
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To: Captain Compassion

JP Morgan who will probably have the biggest role in the Aramco IPO


8 posted on 09/15/2019 3:49:08 PM PDT by RummyChick ("Pills, money .. this city is wicked. Your best friend will kill you here." Smoove about Baltimore)
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To: RummyChick

Oh, darn it. . . and I meant to fill up today.


9 posted on 09/15/2019 3:49:09 PM PDT by vladimir998 (Apparently I'm still living in your head rent free. At least now it isn't empty.)
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To: RummyChick

If Trump doesn’t strike Iran, the Iranians will up the ante again. And again. A salvo of missile attacks on Iran’s big ticket military assets, like nuclear research facilities, SAMs, airplanes and ships will have the virtue of at least reducing the amount of operational Iranian hardware. Targeting ammo dumps would have the excellent result of reducing the amount of ordnance they can funnel to their regional proxies.

https://en.wikipedia.org/wiki/Operation_Praying_Mantis

In fact, it might not be a bad idea to take out Iran’s oil production facilities, such that they are denied even the discounted revenues they get from selling contraband oil to the Chinese.


10 posted on 09/15/2019 3:49:20 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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To: RummyChick

Trump released strategic oil reserves to counter the supply issue.

Trump: “Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.

Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!”


11 posted on 09/15/2019 3:50:52 PM PDT by CodeToad ( Hating on Trump is hating on me and Americans!)
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To: RummyChick

Just went to fill up the car. Paid $2.42/gal. It will be $2.89 by noon tomorrow.


12 posted on 09/15/2019 3:51:11 PM PDT by henkster
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To: RummyChick
behind a paywall

Here is a little trick to get around that.

Use google to search the headline. You should get a search result for this article. Click on the google link and you will get the full article.

For some reason, the site lets google search referrals in for free.

13 posted on 09/15/2019 3:51:13 PM PDT by ChildOfThe60s (If you can remember the 60s........you weren't really there)
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To: RummyChick
Well - gold futures are up so you should be good.

BTW - I did take the plunge and trade some /CL. It was CRAZY the first 10 minutes of trading so I didn't touch it. I waited until it drew back a few bucks and went long. DId alright ;-)

But I have to say - I am still scratching my head over that overload of VIX calls for the 16 Oct expiration date. That's nuts and really has me thinking.....

14 posted on 09/15/2019 3:53:26 PM PDT by NELSON111 (Congress: The Ralph Wolf and Sam Sheepdog s<how. Theater for sheep. My politics determines my "hero")
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To: frank ballenger

[95% of oil supply okay and 5% cut off for a while——not an excuse for billions of dollars in price gouging.]


Commodities prices are set at the margin. 5% excess means a big price slump, just as a 5% shortage means a big price hike. People don’t just want oil - they need it. Can’t make plastics or get from point A to point B without it. So industrial users will bid what they have to, to get the oil supplies they need. Fracking provided, over decades, about the amount of Saudi oil taken out of production by Iranian attack in one day. It’s a major development. Without the Saudi oil taken out of production, we’re looking at $100 oil, easy.


15 posted on 09/15/2019 3:56:36 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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To: CaliforniaCraftBeer

Real Time Commodity Futures Prices

Price Performance Technical Specification Candlestick Patterns

Commodity Month Last High Low Chg. Chg. % Time
Gold Dec 19 1,512.40 1,513.95 1,506.45 +16.05 +1.07% 18:58:05
XAU/USD 1,505.01 1,506.39 1,488.74 +16.27 +1.09% 18:58:05
Silver Dec 19 17.812 17.840 17.692 +0.140 +0.79% 18:58:04
Copper Dec 19 2.694 2.705 2.689 -0.008 -0.30% 18:58:02
Platinum Oct 19 956.80 959.20 953.35 +6.15 +0.65% 18:58:04
Palladium Dec 19 1,599.90 1,608.05 1,595.00 -3.85 -0.24% 18:58:02
Crude Oil WTI Nov 19 60.95 63.47 59.94 +6.15 +11.22% 18:58:04
Brent Oil Nov 19 68.31 71.62 66.77 +8.16 +13.57% 18:58:05
Natural Gas Oct 19 2.680 2.693 2.668 +0.060 +2.29% 18:58:04
Heating Oil Oct 19 2.0584 2.0584 1.9861 +0.1824 +9.72% 18:58:05
Gasoline RBOB Oct 19 1.7340 1.7540 1.6350 +0.1850 +11.94% 18:58:04
London Gas Oil Oct 19 576.13 579.88 570.63 -13.37 -2.27% 13/09
Aluminum 1,810.75 1,814.50 1,792.25 +16.25 +0.91% 13/09
MCX Zinc 2,391.00 2,394.75 2,344.50 +49.75 +2.12% 13/09
MCX Lead 2,109.75 2,117.75 2,084.75 +23.00 +1.10% 13/09
MCX Nickel 17,750.00 18,147.50 17,507.50 -245.00 -1.36% 13/09
Copper 5,966.00 5,979.00 5,847.25 +107.25 +1.83% 13/09
Tin 16,705.00 17,360.00 16,502.50 -467.50 -2.72% 13/09
US Wheat Dec 19 482.62 490.88 480.62 0.00 0.00% 17:01:01
Rough Rice Nov 19 12.233 12.280 12.145 +0.053 +0.44% 13/09
US Corn Dec 19 369.12 371.88 365.62 +1.12 +0.30% 13/09
US Soybeans Nov 19 898.25 903.38 893.12 +3.25 +0.36% 13/09
US Soybean Oil Dec 19 29.40 29.50 29.04 +0.24 +0.82% 13/09
US Soybean Meal Dec 19 302.40 302.40 302.15 +0.95 +0.32% 17:38:28
US Cotton #2 Dec 19 62.30 63.30 62.07 +0.09 +0.14% 13/09
US Cocoa Dec 19 2,327.00 2,369.00 2,323.00 +8.00 +0.34% 13/09
US Coffee C Dec 19 102.48 103.60 102.08 -1.12 -1.08% 13/09
London Coffee Nov 19 1,317.00 1,332.00 1,316.00 +3.00 +0.23% 13/09
US Sugar #11 Oct 19 10.91 10.98 10.73 +0.15 +1.39% 13/09
Orange Juice Nov 19 102.10 105.40 101.20 -0.90 -0.87% 13/09
Live Cattle Oct 19 98.088 99.537 93.425 -0.637 -0.65% 13/09
Lean Hogs Oct 19 66.70 66.81 59.79 +3.52 +5.58% 13/09
Feeder Cattle Sep 19 136.49 137.75 131.18 +0.41 +0.30% 13/09
Lumber Nov 19 378.90 389.30 348.20 -1.60 -0.42% 13/09
Oats 279.00 285.70 277.80 -3.80 -1.34% 13/09


16 posted on 09/15/2019 3:58:39 PM PDT by PIF (They came for me and mine ... now it is your turn ...)
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To: RummyChick

More fracking, please.

JoMa


17 posted on 09/15/2019 3:59:37 PM PDT by joma89
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To: RummyChick

Yay! Now there can be a recession and we can blame it on Trump! Oh, joy!


18 posted on 09/15/2019 4:01:30 PM PDT by Eleutheria5 (If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.)
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To: NELSON111

There is a more complicated part to it that I haven’t wrapped my head around yet. I thought I bookmarked the tweet that explained it for further review but didn’t.

It is about how that trade effects the overall market on expiration.

Btw, Mr 50 cent has been around for awhile. people watch for the trades.


19 posted on 09/15/2019 4:03:51 PM PDT by RummyChick ("Pills, money .. this city is wicked. Your best friend will kill you here." Smoove about Baltimore)
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To: RummyChick

Trump says US ‘locked and loaded’ after attack on Saudi oil supply
https://www.cnbc.com/2019/09/15/trump-says-us-is-locked-and-loaded-after-attack-on-saudi-oil-supply.html


Obviously, we’re not gonna go all the way, but getting to first base would be a good start. My definition of getting to first base:

https://en.wikipedia.org/wiki/Operation_Praying_Mantis


20 posted on 09/15/2019 4:05:15 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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