Oil price down again - No government actions causing that

[2lion70]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

 

[LionDeNittany]

Your premise is wrong.

Biden is to blame for oil prices going up.

Biden is also responsible for the economic growth... which was negative for 2 consecutive quarters.

LdN

 

[WPTLION]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

More proof you're a MORON!
Biden did cause it, it's the plan you IDIOT.

 

[2lion70]

More proof you're a MORON!
Biden did cause it, it's the plan you IDIOT.

You're f'n crazy. No one person is to blame or credit for worldwide economic activity. How and where does Biden do all this - behind the Oz Curtain?

 

[psuted]

You're f'n crazy. No one person is to blame or credit for worldwide economic activity. How and where does Biden do all this - behind the Oz Curtain?

Biden and the Democrats are directly responsible for high gas prices, run away inflation, lack of baby food, and other similar supply issues.

Why are you being so damn dishonest and not taking responsibility for owning this disaster your party created?

 

[2lion70]

Biden and the Democrats are directly responsible for high gas prices, run away inflation, lack of baby food, and other similar supply issues.

Why are you being so damn dishonest and not taking responsibility for owning this disaster your party created?

It's really simple/ The Dems are not in control of worldwide economic factors, the Repubs aren't either. Politicians in the US have only a limited influence on those economic forces.
Who made Putin invade Ukraine, who caused Covid to still be shutting down huge parts of the Chinese industry?
Ukranian wheat not being exported to Africa is a large r influencer of economic situation than anything done by any US entity.
Get out of the political 'blame game' and educate yourself on how the world works.
What ideas do the Repubs have to bring down prices, have they entered any bills in Congress? No - they are only doing their best to hurt Biden/Dems so they can run political ads and get elected.

 

[JR4PSU]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

You’re right. Biden has nothing to do with the drop. Thanks for reminding us of Biden’s ineffectualness.

 

[psuted]

It's really simple/ The Dems are not in control of worldwide economic factors, the Repubs aren't either. Politicians in the US have only a limited influence on those economic forces.
Who made Putin invade Ukraine, who caused Covid to still be shutting down huge parts of the Chinese industry?
Ukranian wheat not being exported to Africa is a large r influencer of economic situation than anything done by any US entity.
Get out of the political 'blame game' and educate yourself on how the world works.
What ideas do the Repubs have to bring down prices, have they entered any bills in Congress? No - they are only doing their best to hurt Biden/Dems so they can run political ads and get elected.

Trying to defend the indefensible once again. You’re just as bad as the deceitful, corrupt, dishonest, and self serving political party you support. The buck never stops with you guys. Your party creates an economic disaster or mess, takes no responsibility, and blames everyone else and everything for their self created mess. You guys own it.

 

[Lesgo_Brandon]

Biden and the Democrats are directly responsible for high gas prices, run away inflation, lack of baby food, and other similar supply issues.

Why are you being so damn dishonest and not taking responsibility for owning this disaster your party created?

 

[Obliviax]

The government action is that Biden hasn’t done anything regarding energy the last two months. That is a giant leap forward from the previous year

 

[junior1]

You're f'n crazy. No one person is to blame or credit for worldwide economic activity. How and where does Biden do all this - behind the Oz Curtain?

I thought high gas prices were Putin's fault

 

[bdgan]

You're f'n crazy. No one person is to blame or credit for worldwide economic activity. How and where does Biden do all this - behind the Oz Curtain?

Biden is responsible for decreasing U.S. production by increasing regulations, not allowing permits, and threatening increased taxes on emissions. His heavy subsidies for green technology have also discouraged investment that would increase fossil fuel capacity.

So yes, Biden has contributed to higher prices.

 

[The Spin Meister]

So Magoo goes full attack on fossil fuels, prices go up.....ain’t his fault. Due to Magoo’s screwup of Afghanistan, the extremely angry NATO reaction, his weakening the military .....Putin starts a war in Ukraine....not Magoo’s fault. War results in extreme energy inflation, Europe on its knees and manufacturing in collapse....again....ain’t Magoo’s fault.

Got it....thanks for the help.

 

[MaconNitt]

Biden is responsible for decreasing U.S. production by increasing regulations, not allowing permits, and threatening increased taxes on emissions. His heavy subsidies for green technology have also discouraged investment that would increase fossil fuel capacity.

So yes, Biden has contributed to higher prices.

Contributed to it yes, the sole cause of it no.

 

[interrobang]

Recessions make the price of oil go down

 

[JR4PSU]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

Take a look at a graph of crude oil prices from Aug 2020 through Aug 2021. Pay particular attention to the date Nov 4th 2020. Then tell me Biden has no effect on oil prices.

 

[bdgan]

Contributed to it yes, the sole cause of it no.

I agree with that. I also agree that Russia has contributed to the problem. But if we had the same policies we had in 2020 I think the U.S. would be producing 2 million more barrels per day. More importantly, we would be better positioned for future years.

 

[NJPSU]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

Must have turned on the Keystone XL pipeline.

 

[RoyalT12]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

These idiots will blame Biden for their inability to get laid. They have zero realistic perspective and zero desire to deal with the economic facts.

 

[LionDeNittany]

Must have turned on the Keystone XL pipeline.

No one here wants to hear your pet name for your ass.

 

[Catch50]

These idiots will blame Biden for their inability to get laid. They have zero realistic perspective and zero desire to deal with the economic facts.

A fact of life.

Republicans are free market capitalists when they're not.

 

[junior1]

It's really simple/ The Dems are not in control of worldwide economic factors, the Repubs aren't either. Politicians in the US have only a limited influence on those economic forces.
Who made Putin invade Ukraine, who caused Covid to still be shutting down huge parts of the Chinese industry?
Ukranian wheat not being exported to Africa is a large r influencer of economic situation than anything done by any US entity.
Get out of the political 'blame game' and educate yourself on how the world works.
What ideas do the Repubs have to bring down prices, have they entered any bills in Congress? No - they are only doing their best to hurt Biden/Dems so they can run political ads and get elected.

you know, what you are saying now might negate the Biden positions that the high gas prices were putin's fault, caused by greedy oil companies, the fault of overcharging gas station owners etc.
It does appear somewhat disengenious for the administration to blame everyone before, but now all of a sudden say "it's market forces" and "no one really has control over oil prices"

 

[m.knox]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

I would urge you to consider that oil prices are going down due to #BIDENRECESSION caused by extreme inflation from excessive gubmint spending.

 

[LionDeNittany]

I would urge you to consider that oil prices are going down due to #BIDENRECESSION caused by extreme inflation from excessive gubmint spending.

The 10 year treasury yield has dropped to the 2.50s.

The economy is bracing for a recession.

Biden caused this.

Ldn

 

[m.knox]

The 10 year treasury yield has dropped to the 2.50s.

The economy is bracing for a recession.

Biden caused this.

Ldn

 

[LionDeNittany]

It's so embarrassing that Americans are both so stupid and so biased that they continuously try to defend Biden's actions when it comes to oil, inflation and the economy.

While NJ is extremely stupid, I had higher expectations for others on this board.

 

[bourbon n blues]

It's so embarrassing that Americans are both so stupid and so biased that they continuously try to defend Biden's actions when it comes to oil, inflation and the economy.

While NJ is extremely stupid, I had higher expectations for others on this board.

I didn't.

 

[2lion70]

I thought high gas prices were Putin's fault

Not even close. Putin does bear more responsibility for increased energy costs than any other one person because of his invasion of Ukraine.

 

[2lion70]

I would urge you to consider that oil prices are going down due to #BIDENRECESSION caused by extreme inflation from excessive gubmint spending.

Read the headline - the reason is the continued weak China economy. They have no reliable Covid vaccine and are still having severe and large shutdowns whenever there is an outbreak.

 

[m.knox]

Read the headline - the reason is the continued weak China economy. They have no reliable Covid vaccine and are still having severe and large shutdowns whenever there is an outbreak.

Two periods of negative GDP = recession. Courtesy of Joe Biden and the destroyocrats.

 

[bdgan]

I would urge you to consider that oil prices are going down due to #BIDENRECESSION caused by extreme inflation from excessive gubmint spending.

People are driving much less because gas prices are too high.

 

[bourbon n blues]

People are driving much less because gas prices are too high.

Trying posting in crayon, I might get it that way.

 

[The Spin Meister]

People are driving much less because gas prices are too high.

Jet fuel was also way down in June.

 

[junior1]

Oil prices tumble as demand dips amid weak manufacturing data from China​

Nicholas Earl - 4h ago
React79 Comments|


Biden had nothing to do with this. JUst like he wasn't to blame for oil prices going up. Far too many other worldwide factors involved to say any one person/company is responsible. All commodities are extremely volatile and subject to things like weather, major infections wars, labor strikes......


Oil prices dropped sharply across both major benchmarks, as weak manufacturing data from China and Europe weighed down demand.
© Provided by City AMOil prices tumble as demand dips amid weak manufacturing data from China
Brent Crude futures dipped below the $100 milestone, dropping 3.91 per cent to $99.90 per barrel, while WTI Crude tumbled 5.01 per cent to $93.68.
Factories across Asia and Europe struggled last month, as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, adding to concerns about economies sliding into recession.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) for the euro zone fell to 49.8 in July from June’s 52.1, plummeting below the 50 mark separating growth from contraction for the first time since June 2020.
The Caixin/Markit PMI also eased to 50.4 in July from 51.7 the previous month, sharply below analyst expectations.

I think you wrote this before someone from the Biden admin (Amos somebody) came out and declared gas prices are down because of steps the government had taken, including withdrawals from the strategic reserve. So one hand of government might not be talking to others