Better Fill Up Your Gas Tank .....

[From Ashes To Glory 2]

It's gonna get crazy with oil prices in the next several weeks:

Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes
Shutdown amounts to a loss of some five million barrels a day, roughly 5% of the world’s daily production of crude

Smoke billowing after a fire at a Saudi Aramco factory in Abqaiq, Saudi Arabia, on Saturday. Photo: Videos obtained by Reuters/Reuters
By
Summer Said and
Jared Malsin
Updated Sept. 14, 2019 3:05 pm ET

Coordinated drone strikes on the heart of the Saudi oil industry forced the kingdom to shut down half its crude production on Saturday, people familiar with the matter said, potentially roiling petroleum prices and demonstrating the power of Iran’s proxies.

Yemen’s Iranian-aligned Houthi rebels claimed credit for the attack, saying they sent 10 drones to strike at important facilities in Saudi Arabia’s oil-rich Eastern Province. The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil.

Officials said they hoped to restore production to its regular level of 9.8 million barrels a day by Monday.

[...]

https://www.wsj.com/articles/drone-strikes-spark-fires-at-saudi-oil-facilities-11568443375

 

[herdfan429]

Yep let’s cause a rush to the gas pump and replenish the supply quicker

 

[From Ashes To Glory 2]

Yep let’s cause a rush to the gas pump and replenish the supply quicker

Nope, it's more like make sure you have a full tank of gas so you won't have to worry about filling up again for the next week or so until oil supplies start to normalize.

 

[herdfan429]

Nope, it's more like make sure you have a full tank of gas so you won't have to worry about filling up again for the next week or so.

Like I said cause a rush of people topping off. And from what I’ve read they expect to restore production by Monday

 

[herdfan06]

Like I said cause a rush of people topping off. And from what I’ve read they expect to restore production by Monday

Hell, they raise their prices when a Camel sharts in the desert.

 

[-CarlHungus-]

I guess prices go up due to a global market? It was my understanding that most US oil consumption is from domestic production. I’m ignorant on global oil.

 

[herdfan429]

Hell, they raise their prices when a Camel sharts in the desert.

I didn’t say prices wouldn’t go up but if everyone rushes to the gas pump to just top off that puts a strain on an already volatile market. No need to make matters worse

 

[herdfan06]

I didn’t say prices wouldn’t go up but if everyone rushes to the gas pump to just top off that puts a strain on an already volatile market. No need to make matters worse

Should we wait until after you have had the opportunity to fill up?

 

[herdfan429]

Should we wait until after you have had the opportunity to fill up?

Nope I’m good go put your $10 in to top off for no damn reason

 

[From Ashes To Glory 2]

Like I said cause a rush of people topping off. And from what I’ve read they expect to restore production by Monday

Whoa .... now my previous comments only involved those "topping off." I guess paying an extra 30-40 cents per gallon to do more than "topping off" just isn't a big deal if you don't want to put it off until next weekend.

 

[herdfan429]

Whoa .... now my previous comments only involved those "topping off." I guess paying an extra 30-40 cents per gallon to do more than "topping off" just isn't a big deal if you don't want to put it off until next weekend.

Everyone goes to get gas in an already tight supply would increase those gas prices more.

 

[Raoul Duke MU]

Nope I’m good go put your $10 in to top off for no damn reason

I usually fill up when I hit half a tank, unless I am on a road trip. $10 lol.

 

[herdfan429]

I usually fill up when I hit half a tank, unless I am on a road trip. $10 lol.

Ok If that’s your normal routine then fine, all I’m saying is don’t make a mad dash to top off if you’ve used a qtr of a tank. Continue your normal routine for filling up. It puts less stress on an already strained market

 

[Raoul Duke MU]

It puts less stress on an already strained market

You know what would really put less stress on the market? Our infantile POTUS not threatening war on behalf of his murderous, terrorist-supporting, stupid-religion-worshiping Saudi friends.

 

[ohio herd]

my understanding is that we consume about 89% of our gasoline is domestic now as of 2018. I am not sure how that will play out at the pump

https://www.eia.gov/tools/faqs/faq.php?id=32&t=6

 

[From Ashes To Glory 2]

Brent crude oil spikes the most in history after Saudi attacks, last up 15%
PUBLISHED SUN, SEP 15 2019 6:04 PM

Oil prices soared after a coordinated attack hit the heart of Saudi Arabia’s oil industry on Saturday, forcing the kingdom to cut its oil output in half.

Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel at the open, the biggest intraday jump on record. By early afternoon, the contract was at $69.49, up $9.27 or 15.34%.

U.S. West Texas Intermediate futures climbed as much as 15.5% to $63.34. The contract was later at $63.19, up $8.34 or 15.21%.

An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday, knocking out 5.7 million barrels of daily crude production or 50% of the kingdom’s oil output. Saudi Aramco, the national oil company, reportedly aims to restore about a third of its crude output, or 2 million barrels by Monday. However, Bloomberg News reported it could take weeks before Aramco restores the majority of its output at Abqaiq.

“While in the short term the direct physical impact on the market might be limited, this should move the market away from its bearish macroeconomic cycle and raise the risk premium in the market as funds reduce their short positions,” said Chris Midgley, global head of analytics, S&P Global Platts.


https://www.cnbc.com/2019/09/15/us-...e-strikes-disrupt-saudi-crude-production.html

 

[herdfan06]

my understanding is that we consume about 89% of our gasoline is domestic now as of 2018. I am not sure how that will play out at the pump

https://www.eia.gov/tools/faqs/faq.php?id=32&t=6

Possibly increase demand to export more oil?