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The Water Cooler
General Discussion
4 Decade Ban On Exports Of U.S. Crude OIl Ends
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<blockquote data-quote="SlugSlinger" data-source="post: 2567433" data-attributes="member: 7248"><p>Well, this is one way to drive prices up. Currently there is an over supply of both oil and gas in this country. You can see it in the price of natural gas. Once the markets open, the price will rise because the supply and demand will begin to equal.</p><p></p><p>Look at prices of WTI and Brent. WTI is $104ish, Brent is $111ish. I spoke to the Marketing Director at the main refinery in this area a couple days ago, and because of the over supply, he is paying $86ish per barrel out of Cushing.</p><p></p><p>This WILL hurt the domestic refineries margins. And it will drive up the price of all fuel.</p><p></p><p>The ruling was announced the week of June 24 and this refineries stock dropped over 12% that week.</p><p></p><p><img src="https://www.okshooters.com/data/MetaMirrorCache/i61.tinypic.com_sd2s6b.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 2567433, member: 7248"] Well, this is one way to drive prices up. Currently there is an over supply of both oil and gas in this country. You can see it in the price of natural gas. Once the markets open, the price will rise because the supply and demand will begin to equal. Look at prices of WTI and Brent. WTI is $104ish, Brent is $111ish. I spoke to the Marketing Director at the main refinery in this area a couple days ago, and because of the over supply, he is paying $86ish per barrel out of Cushing. This WILL hurt the domestic refineries margins. And it will drive up the price of all fuel. The ruling was announced the week of June 24 and this refineries stock dropped over 12% that week. [IMG]https://www.okshooters.com/data/MetaMirrorCache/i61.tinypic.com_sd2s6b.png[/IMG] [/QUOTE]
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The Water Cooler
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4 Decade Ban On Exports Of U.S. Crude OIl Ends
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