The World is Watching The Wrong Oil Price

[gab13by13]

Everyone is watching Brent crude, but people in the know are watching Brent dated.

This is the price paid for a barrel of oil that is about to be loaded on to a tanker. In other words, it is the price of getting your hands on a consignment of crude today – not months in advance, as the futures price measures.

The price of Brent dated is the highest it has been in 10 years.

[Volaris]

1. Sooner rather than later now, the futures price will line up with the 'cash and carry' price,

and republicans will be fucked beyond anything their party has seen in about 5 decades.

[muriel_volestrangler]

2. Source, for those who want to read more:

https://www.telegraph.co.uk/business/2026/04/23/the-world-is-watching-the-wrong-oil-price/

[progressoid]

8. Thank you.

[SergeStorms]

3. It's all Joe Biden's fault.

Or Obama's, I can't remember which.

[SCantiGOP]

5. It was Hillary

Remember the nasty woman?

[SergeStorms]

12. My mistake.

Because if there were no Hillary......the others wouldn't even exist! I agree. Good catch.

[ms liberty]

15. Or the black lady with the laugh

[Moostache]

6. The simplest answer is always their default...

That is why the REAL culprit is still HER E-MAILS!!!!!

[calimary]

13. "...oh but her EMAILS!!!"

That STILL galls the hell outta me.

SOOOOOOOOOOO much sturm & drang about ABSOLUTELY NOTHING!!! All it ever was: just another cheap-ass, short-sighted, mean-spirited avenue of attacking Hillary Clinton. An indictment of brains, talent, ingenuity, and a strong motivation toward public service, mainly because she was (GASP!!!) female.

One could probably tell that I proudly remain a fierce defender of Hillary Rodham Clinton. SHE would have been an outstanding President.

[ToxMarz]

4. Most of the world doesn't actually watch those numbers

They are being fed those numbers in the media and accepting them as accurate. They don't know enough to say otherwise.The people feeding them those numbers know the difference and know they can get away with it

[Fil1957]

7. I believe Thom Hartmann was saying the other day, right now they are paying $248/barrel in Sri Lanka.

[ProfessorGAC]

16. That Doesn't Seem Right

$148, I can believe; but Brent plus $135?
I did some digging and couldn't find anything higher than this:

The Indian basket of crude, representing imported, averaged around $115.22 per barrel in April 2026.

[dalton99a]

9. Pretty soon Americans will see the full impact to the supply chain

[Bluetus]

10. And in the US, at the pump, the Mafia is fixating on the wrong nozzle

First, US oil companies aren't using much oil from the Middle East. They have domestic supplies, so this war is a huge windfall.

But they fear the political consequences of high gasoline prices, so they are moderating that. But Diesel has less of an impact on the angry mob. Diesel remains through the roof, where it is driving up the cost of everything. But Trump thinks he can get away with denying that inflation is happening.

[dalton99a]

11. +1

https://www.nytimes.com/2026/04/23/business/energy-environment/iran-war-diesel-prices-gasoline.html

Why Diesel Has Become a Much Bigger Economic Problem Than Gasoline
The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.
By Emmett Lindner
April 23, 2026, 5:02 a.m. ET

...

Before the war, refineries in the Persian Gulf exported much more diesel and jet fuel than gasoline — and no other countries have the capacity to make up for that loss.

In addition, much of the oil produced in Gulf countries is especially suited for making diesel. The oil produced in Texas and New Mexico, by comparison, is better suited for making gasoline.

There is another problem: Truckers, farmers and other users of diesel may not be able to cut back easily, whereas individuals buying gasoline can, for example, car-pool or forgo some trips.

If the Strait of Hormuz reopens to ships, diesel prices may not quickly return to prewar levels because the supply has been disrupted so much. Getting enough of the fuel to every place that needs it could take months.

“It’s diesel that really runs the economy,” Mr. DeLaura said, “and kind of runs the world.”

...

[calimary]

14. Nothing like taking a baseball bat to a hornets' nest...