Oil prices head above $80 per barrel as fuel crisis beds in

[Omaha Steve]

Source: Yahoo

Lucy Harley-McKeown

Energy markets have stayed in focus as the most volatile factor in markets on Tuesday in London, as the price of oil per barrel headed above $80 for the first time in around three years.

Brent Crude (BZ=F) was 1% higher, to trade at $80.34 (£58.75) at the opening bell in London. Crude (CL=F) was also up around 1% to trade at $76.27.

The fuel supply crisis has forced the UK government to draft in the army as long queues at petrol stations head into their fourth day.

Up to 150 military tanker drivers will prepare to deliver to forecourts which have run dry because of panic buying.


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[Roy Rolling]

1. "Free Market"

The marketplace is not a peaceful place to live. It’s chaos.

Which is why Republicans worship money and markets—they profit from chaos.

[NurseJackie]

2. As fuel prices rise... expect more "MISS ME YET?" memes and billboards...

... with Trump's smirky orange face with sphincter shaped lips.

[Calista241]

3. The higher the price of oil, the more powerful Putin and Russia are. n/t

[JT45242]

4. not for long ... tar sands and fracking will restart at those price

At these prices the tar sands will fire back up and raise the supply which will lower the costs. It takes a few weeks to set up new spots and then they can produce away.

[bullwinkle428]

5. Remember way back at the beginning of the pandemic, when oil prices

plummeted, and gas dropped below $1 a gallon in many areas??

There was practically a call from some quarters to pass around a collection plate for big oil...LOL!

[IronLionZion]

13. Travel came to a hard stop

Airlines use tons of oil and that dropped fast.

[bucolic_frolic]

6. They're pushing on a string

Over time demand will soften slightly. From electric vehicles, from home gigs, from wood heat. People are adjusting. They've played this game before.

[Johnny2X2X]

7. Why is this a crisis?

It's simply not.

[twodogsbarking]

8. I was hoping we were moving away from oil controlling lives unnecessarily.

Guess not.

[BlueWavePsych]

9. Updated news link here ...

Oil prices rise above $80 a barrel for first time in three years
https://www.ft.com/content/14d4980b-8163-4359-bc4a-fb2b7f7d2c27

Perfect time to buy a gas guzzling SUV

[Bayard]

10. Still comes down to how much we need Biden's agenda

More electric vehicles, more charging stations, even if it takes awhile.

[C Moon]

11. If I didn't know any better, I'd say the RW is trying to turn this into a Carter presidency.

They are always reliving the Reagan daze: when they began their puppet work with the US presidency.

[Marthe48]

12. a few years ago, they couldn't give it away

I read an article in Playboy decades ago, how the oil industry caused prices to go up by saying that we were going to run out. Worked every time.

[IronLionZion]

14. Who shall we invade to solve this problem?

UK should invade Norway as payback for the Viking raids.

[twodogsbarking]

15. Pick someone easy but still spend as much as possible.

Corporate profits are at stake.

[IronLionZion]

17. Venezuela or Canada then

we should build a bunch of pipelines right through people's water supply to be sure.

[twodogsbarking]

18. So attacking Vatican City is ruled out?

[IronLionZion]

19. Not much oil and we have to go through Italy

Might lose the Catholic vote

[Shanti Shanti Shanti]

16. Sorry London, I just filled everything up at $2.79 gal, is that good?