kali19h ago

😵‍💫

"Cash ​Dubai was assessed at a record $153.25 barrel on Monday for May-loading cargoes, S&P Global Platts said, surpassing Brent futures' all-time ​high of $147.50 in 2008."

https://www.reuters.com/business/energy/middle-east-oil-benchmarks-hit-record-highs-war-cuts-supply-2026-03-16/

#iran #oil #energy

Show threadWelkin

@kali
This is not good. 153 for a barrel of oil for May-2026 loading? This does not end well for anyone. Please stop this madness. One significant conflict is enough. Humanity does not need two concurrent conflicts.
☮️

#IranWar #UkraineWar #SPMO #ForeverWar #ForeverWars #EndlessWar #EndlessWars #SpecialMilitaryOperation #PleaseStop

Mar 17 at 6:30amWeb
Show threadkali19h ago
@welkin7 😔
Show threadRastal18h ago

@welkin7 @kali In the words of Goldman Sachs: we have no model to predict how bad things will get.

It probably will reach $700 for a barrell of oil.

#iran #iranwar

Show threadkali18h ago
@Rastal @welkin7 $700 is a bit much, but yeah this is not the price of oil, it is the price of a functioning supply chain.
Show threadkali18h ago
@Rastal @welkin7 usually backwardation is short term but who the hell even knows at this point.