Today, gambling....the casino kind and more. But first, a few more things about petroleum, my feature yesterday: Iran warns oil could hit $200 as it fires on merchant ships . WTI Crude Oil dropped from $110/barrel ( price just before the market re-opened on Monday ) to $82/barrel yesterday, but increased to $87/barrel today. The stabilization occurred because Donald Trump said this would be a short war, plus the International Agency recommended the release of 400 million barrels from global strategic reserves. Note that the world roughly produces 106 million barrels of oil/day, and the USA is #1 with 13.6 million barrels/day. Amazingly enough, North America is the largest oil-producing region, with over 31 million barrels/day. The world strategic petroleum reserve holds over 2 billion barrels, of which 20% will be released. The USA has 415 million barrels in Gulf Coast salt caverns, which are designed to hold 714 million barrels. President Trump...
The price oil over the past two days: Was at $91/barrel over the past weekend. Shot up to just under $116/barrel when the market opened yesterday. Then fell to $85/barrel at 5PM yesterday. Over the past 24 hours, there was low of $78.5/barrel. At 3PM EDT today, the price was $84/barrel. During the past month: Oil sat at around $65/barrel. Was as low as $61/barrel a little more than a month ago, February 12 Was up to $67/barrel at the end of February. War started on February 28. On March 2 oil rose to $71/barrel and went up to $95/barrel on March 9. So you might say with that one skyrocket price yesterday, the price of oil went up $19/barrel since the war started. From Wikipedia: The price of oil , or the oil price , generally refers to the spot price of a barrel (159 litres) of benchmark crude oil —a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude , Du...