Brent crude oil futures dropped below $76 per barrel on Monday, marking an eight-month low. Despite rising geopolitical tensions in the Middle East, including Israeli airstrikes causing casualties, market focus is shifting to declining oil demand. Data reveals a notable slowdown in US job growth, increased unemployment, and sluggish wage increases, amplifying recession fears. Both the US and China are seeing contractions in their manufacturing sectors, signaling potential further drops in oil consumption.
68 sats \ 2 replies \ @Fabs 5 Aug
Yo Tom, what the fuck's goin' on at the global markets?! Why the bloody Monday?
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31 sats \ 1 reply \ @TomK OP 5 Aug
A little rate hike in Japan was enough to kick the Yen Carry Trade in the ass and show us the real status of liquidity in the system.
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21 sats \ 0 replies \ @Fabs 5 Aug
The proverbial "straw", huh? And I thought today would be a laid-back Monday... 🥴
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68 sats \ 8 replies \ @BlokchainB 5 Aug
Wen cheaper prices?
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93 sats \ 7 replies \ @TomK OP 5 Aug
For the US with a Trump victory. For Europe: never
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150 sats \ 6 replies \ @ca 5 Aug
His proposed 50% tariffs will most likely lead to higher prices for everything.
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47 sats \ 5 replies \ @Bell_curve 5 Aug
Let’s plant the seed of blaming Trump for higher prices. Tariffs cause inflation.
Another socialist SN user
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0 sats \ 2 replies \ @ca 5 Aug
Take your Trump populism somewhere else, we tend to be inspired by the Austrian school of economics around here.
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98 sats \ 0 replies \ @TomK OP 5 Aug
I am also 100% in line with the Austrian school of economics. But if you do not recognize here at this point in history that in America there is only a choice between Kamala Harris, a mentally imbecilic communist and her clique, and Donald Trump, who is at least beginning to build a team that opposes this socialism, then you urgently need to take a closer look at this matter. I would also prefer it if there were no central banks and no socialists driving people into chaos in this world. But we have to live with the material we find.
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47 sats \ 0 replies \ @Bell_curve 5 Aug
you mean Austrian cult
any opinions about Biden/Harris you would like share?
Will prices be lower under a President Kamala?
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0 sats \ 1 reply \ @anon 5 Aug
I scrolled through your profile bc I vaguely saw you using that word over and over again with your two accounts.
https://i.imgflip.com/p1ij6.jpg
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47 sats \ 0 replies \ @Bell_curve 5 Aug
drink your poison and kill your father
I only have one account
is oliver pretending to be anon?
Why don't you tell me what it means? Please enlighten me or is that beyond the scope of your ability which is limited to memes?
what is my other account? which username?
So many questions for @anon, but don't expect answers
of course @anon is a collective or a commune
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102 sats \ 0 replies \ @0xbitcoiner 5 Aug
If it's confirmed that demand is really down, it's possible that prices will continue to fall. But on the other hand we have the increase in conflicts in the Middle East which could be a catalyst for the increase.
Here's a graph of fuel prices in Portugal (simple diesel and 95 gasoline)
https://m.stacker.news/43553
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47 sats \ 0 replies \ @Bell_curve 5 Aug
https://threadreaderapp.com/thread/1820292299303092464.html
Getting rekt by overleveraged Yen trade
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47 sats \ 3 replies \ @IamSINGLE 5 Aug
While I agree with your points but the situation of war in middle East should't make the crude oil prices go higher?
It's a bit surprising!
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32 sats \ 2 replies \ @TomK OP 5 Aug
It's angst of global recession
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47 sats \ 1 reply \ @IamSINGLE 5 Aug
What will happen to prices if a war between Iran and Israel breaks out?
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21 sats \ 0 replies \ @TomK OP 5 Aug
Well... this I even can't imagine (but higher, of course). But it looks like they're acting like last time and Russia tries to take the breaks on the attempt of escalation
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47 sats \ 0 replies \ @Bell_curve 5 Aug
#635708
Taiwan suffers worst crash since 1967
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47 sats \ 0 replies \ @TheBTCManual 5 Aug
Time to fill up the SPR that biden emptied out
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47 sats \ 2 replies \ @Satosora 5 Aug
If it is less than $80 per barrel, why are gas prices still so high?
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21 sats \ 1 reply \ @d1 5 Aug
I'd imagine seasonality is a factor with natgas, as we are heading out of summer soon.
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21 sats \ 0 replies \ @Satosora 5 Aug
I would hope prices come down and break russia and opecs monopoly.
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47 sats \ 0 replies \ @Bell_curve 5 Aug
Low oil prices are bad for OPEC and Russia and Venezuela
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21 sats \ 1 reply \ @Jer 5 Aug
Wasn't most of the recent job growth in the US Federal Government Jobs?
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0 sats \ 0 replies \ @Bell_curve 5 Aug
Yes for the last 3 years
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21 sats \ 0 replies \ @sangekrypto 5 Aug
Oil prices are plummeting, don't let this impact workers and don't increase unemployment victims, because diseases throughout the world are always about oil, so that it impacts those of us who can't afford it, intense business competition occurs. impact on underprivileged communities.
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21 sats \ 0 replies \ @TomK OP 5 Aug
A little rate hike in Japan was enough to kick the Yen Carry Trade in the ass and show us the real status of liquidity in the system.
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21 sats \ 0 replies \ @riberet19 5 Aug
The drums of recession are beating again.
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