Is $66 oil cheap enough? What I have noticed here is that diesel is not coming down here.

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

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.

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

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.

Oil i think is in a holding pattern especially with the russo-ukraine war possibly ending. OPEC says theyre increasing production so...

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

Know we just loaded up 46000 off barrels and there really wanting to to get to where either needs to go asap

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

Oil tariff is 10% everything else is 25%.

“Energy resources from Canada will have a lower 10% tariff.”

Trump asked the Saudi's the other day to increase production, which they agreed to.

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.

Wonder if there will be any thinking the market will always let you out by going back to the gap. May be a lesson in power down and not liquidation down, lol.

Well drill baby drill wasn't in the news and cutting demand with the unknown of the tariffs did the job, lol. Bankrupting the oil segment should make the green people happy, but with cheap gas, I will just burn more while it lasts. Now if we can just gain some access to the lithium deposits!

Price of gasoline is higher now than it was 2 months ago. Nearly $4/gallon

Gas is going up and the oil companies need to make money or they wont put more production on the ground.
They will start shutting down production to keep making money, the oil companies are here to make money not cheap gas. How many coons do you want to trap when it cost you $5 to catch them and put them up and you sell them for 3 bucks.

we are entering the summer blend swap which is more expensive. I think theres a refining bottleneck again as well.

crude currently at its lowest cost since april 2021, a year after it was sub 20

The electric car will save our souls : Greta 101, lol.

Is 65 dollar cheap?

Yes

BP gas is only 3 bucks here.