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Is crude cheap? #8357939
03/05/25 10:17 AM
03/05/25 10:17 AM
Joined: May 2016
Posts: 4,359
Southern Illinois
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Foxpaw Offline OP
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Foxpaw  Offline OP
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Southern Illinois
Is $66 oil cheap enough? What I have noticed here is that diesel is not coming down here.

Re: Is crude cheap? [Re: Foxpaw] #8357942
03/05/25 10:23 AM
03/05/25 10:23 AM
Joined: Mar 2014
Posts: 2,249
SE Iowa USA
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AKAjust Offline
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AKAjust  Offline
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SE Iowa USA
Dunno the answer to your question but I do know crude isn't just crude. Lots of the shut down wells here in the US are not sweet crude.
just

Re: Is crude cheap? [Re: Foxpaw] #8357944
03/05/25 10:24 AM
03/05/25 10:24 AM
Joined: Dec 2006
Posts: 19,295
Rodney,Ohio
SNIPERBBB Offline
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Rodney,Ohio
relatively cheap. it was a lot cheaper a few years ago. Problem is refining capacity really hasnt improved since katrina. If you see diesel crashing, things arent going to be good.

Last edited by SNIPERBBB; 03/05/25 10:27 AM.
Re: Is crude cheap? [Re: AKAjust] #8357947
03/05/25 10:31 AM
03/05/25 10:31 AM
Joined: Dec 2006
Posts: 19,295
Rodney,Ohio
SNIPERBBB Offline
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Rodney,Ohio
Originally Posted by AKAjust
Dunno the answer to your question but I do know crude isn't just crude. Lots of the shut down wells here in the US are not sweet crude.
just

the price you see normally quoted for oil is WTI(texas light sweet). Brent is currently $3 more

Re: Is crude cheap? [Re: Foxpaw] #8357952
03/05/25 10:37 AM
03/05/25 10:37 AM
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Posts: 4,359
Southern Illinois
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Foxpaw Offline OP
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I was watching Apr WTI. Yesterday had good vol at the low end of the day like they was reversing and adding. Was just thinking $66 may be cheap, lol.

Re: Is crude cheap? [Re: Foxpaw] #8357958
03/05/25 10:41 AM
03/05/25 10:41 AM
Joined: Dec 2006
Posts: 19,295
Rodney,Ohio
SNIPERBBB Offline
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Rodney,Ohio
Oil i think is in a holding pattern especially with the russo-ukraine war possibly ending. OPEC says theyre increasing production so...

Re: Is crude cheap? [Re: Foxpaw] #8357970
03/05/25 11:07 AM
03/05/25 11:07 AM
Joined: May 2017
Posts: 322
ontario
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ontario
probably isnt going down anytime in the near future with the usa buying 60% of its oil from canada and your president just slapped a 25%tarriff on it

Re: Is crude cheap? [Re: Foxpaw] #8357973
03/05/25 11:12 AM
03/05/25 11:12 AM
Joined: Jul 2013
Posts: 14,099
Amite county Mississippi
Wolfdog91 Offline
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Amite county Mississippi
Know we just loaded up 46000 off barrels and there really wanting to to get to where either needs to go asap

Re: Is crude cheap? [Re: k9-hunter] #8357980
03/05/25 11:24 AM
03/05/25 11:24 AM
Joined: Aug 2012
Posts: 4,419
South Dakota
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Rat Masterson Offline
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Originally Posted by k9-hunter
probably isnt going down anytime in the near future with the usa buying 60% of its oil from canada and your president just slapped a 25%tarriff on it


We get 60% of our imports from Canada not 60% of our usage, big difference. Also I think the tariff is 10%.

Re: Is crude cheap? [Re: Rat Masterson] #8357989
03/05/25 11:36 AM
03/05/25 11:36 AM
Joined: May 2017
Posts: 322
ontario
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k9-hunter Offline
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ontario
Originally Posted by Rat Masterson
Originally Posted by k9-hunter
probably isnt going down anytime in the near future with the usa buying 60% of its oil from canada and your president just slapped a 25%tarriff on it


We get 60% of our imports from Canada not 60% of our usage, big difference. Also I think the tariff is 10%.

nope tarriff is 25% to Canada and Mexico 10% to china yes you are correct its import and usage is different but if your importing it your using it just saying with canada being your biggest supplier other than home produced oil that pices will eventually go up the usa produces roughly 13 million barrels a day and we ship them roughly 4.4 million barrels a day never mind what you get from mexico and middle east

Re: Is crude cheap? [Re: Foxpaw] #8358001
03/05/25 11:53 AM
03/05/25 11:53 AM
Joined: Aug 2012
Posts: 4,419
South Dakota
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Rat Masterson Offline
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Rat Masterson  Offline
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Oil tariff is 10% everything else is 25%.

Re: Is crude cheap? [Re: Foxpaw] #8358009
03/05/25 11:55 AM
03/05/25 11:55 AM
Joined: Feb 2022
Posts: 694
Arkansas
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WhiteCliffs Offline
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Arkansas
“Energy resources from Canada will have a lower 10% tariff.”

Re: Is crude cheap? [Re: Foxpaw] #8358031
03/05/25 12:24 PM
03/05/25 12:24 PM
Joined: Jan 2018
Posts: 1,974
Henry Co, IL
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3togo Offline
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Henry Co, IL
Trump asked the Saudi's the other day to increase production, which they agreed to.

Re: Is crude cheap? [Re: k9-hunter] #8358069
03/05/25 01:30 PM
03/05/25 01:30 PM
Joined: Jan 2014
Posts: 3,609
Co.-Wy. part time AK.
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wy.wolfer Offline
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Originally Posted by k9-hunter
probably isnt going down anytime in the near future with the usa buying 60% of its oil from canada and your president just slapped a 25%tarriff on it

That was the past administrations plan to appease environmentalists, stop drilling for oil in the U.S. but don't quit burning it, or making nylon clothing ,shoes, jackets, etc. Somehow that makes sense and pleases democrat politicians? Now we just have to pay more until we reach tariff parity.

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