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PeakOil is You

PeakOil is You

Brent Hits Two-Year High

General discussions of the systemic, societal and civilisational effects of depletion.

Brent Hits Two-Year High

Unread postby AdamB » Sun 24 Dec 2017, 09:56:33


Brent crude closed at its highest in more than two years as shrinking U.S. stockpiles allay concerns over a global glut, while a key North Sea oil pipeline remains shut. In New York, futures closed at their highest in two weeks. Crude stockpiles last week plunged by the most since the height of North America’s summer driving season, a government report showed Wednesday. Meanwhile, Ineos Group’s Forties Pipeline System, which hauls oil from North Sea fields and helps set international prices, has been shut since Dec. 11 after a hairline crack was discovered. Bullish sentiments linger among traders following the “bigger-than-expected inventory draw,” said Rob Haworth, who helps oversee $150 billion at U.S. Bank Wealth Management in Seattle. “That’s still on the minds of market participants.” Oil is set to post a yearly advance following a decision by the Organization of Petroleum Exporting


Brent Hits Two-Year High
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
AdamB
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Re: Brent Hits Two-Year High

Unread postby AdamB » Sun 24 Dec 2017, 15:50:43

pstarr wrote:You need to spin this as evidence that Etp is nonsense.


A) To whom are you speaking?
B) No such spin in needed.

pstarr wrote:When the prices of oil goes up then that means that demand goes up .


Or that supply has gone down. This is exactly the error made by happy McPeaksters the world over back when peak oil happened a decade ago. Go here...learn stuff...next time maybe you'll be smarter?

pstarr wrote: . . which of course proves that the value of additional oil is always greater. People are willing to spend more, right?


See above. Take a day or month to study. Come back better informed.
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
AdamB
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