Wonder what all those favours he called upon to get us that supply is going to cost us?
HerniatedHernia on
Soooo any plans to build some onshore storage to have a good 3-6 months worth of supply like our national security experts have been banging on about for 30 years? So we can future proof the country so this doesn’t see a repeat.
… No?
Jealous-Hedgehog-734 on
The historically normal spot price for Brent in the post-fracking era (2008-Present) is $80.35/bbl and it’s been in the $100-110 range for most of Hormuz Blockade. The narrative about an oil crisis developing was greatly oversold, if anything it’s been tangential products like fertilizer and aluminium that have been hardest hit.
Spot is about +$35, 6 month futures about +$20, 1 year futures about +$15, 2 year futures about +$12.
3 Comments
Wonder what all those favours he called upon to get us that supply is going to cost us?
Soooo any plans to build some onshore storage to have a good 3-6 months worth of supply like our national security experts have been banging on about for 30 years? So we can future proof the country so this doesn’t see a repeat.
… No?
The historically normal spot price for Brent in the post-fracking era (2008-Present) is $80.35/bbl and it’s been in the $100-110 range for most of Hormuz Blockade. The narrative about an oil crisis developing was greatly oversold, if anything it’s been tangential products like fertilizer and aluminium that have been hardest hit.
Spot is about +$35, 6 month futures about +$20, 1 year futures about +$15, 2 year futures about +$12.