Oil Prices Could Hit $160 Within Weeks

[SamuelTheThird]

yikes

Exxon SVP Neil Chapman warned at the Bernstein conference that global oil inventories are approaching 'unheard of' lows and models show Brent crude could spike to $150-$160 once the operational floor is reached.
Chevron CEO Mike Wirth said the market's shock absorbers have been 'steadily drawn down' and expects direct upward pressure on physical prices in June and July, with Hormuz still blocking 12-13 million barrels per day.
Goldman Sachs data shows global inventories plunged a record 8.7 million barrels per day in May alone, while JPMorgan previously calculated only 0.8 billion of 8.4 billion total global barrels were realistically available before operational stress.

https://oilprice.com/Energy/Oil-Prices/Supermajor-Warns-Oil-Prices-Could-Hit-160-Within-Weeks.html

[The Roux Comes First]

1. He's on a Pace to Achieve One of His Greatest F-ups Ever

And this is a slime-ball who has been cheering and bragging about his F-ups as victories the whole time he's been riding his inherited and extorted winnings into the ground.

The All-time Biggest Loser!

[onenote]

2. Oil prices are dropping big time.

West Texas -- below $88
Brent Crude - $92
Murban Crude -- $92.50

All were over $100 not long ago.

And prices the pump, while well above pre-Iran war levels, have been dropping as well.

[SamuelTheThird]

3. Temporary

US, China, and most others are using their strategic reserves. As well there's price manipulation and hopium based on algos trading the constant bs deal headlines.

Get back to me at the end of july

[dalton99a]

4. +1. Americans are going to have a shitty summer.

[SamuelTheThird]

5. We're sleep-walking into catastrophe