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On the primary market, crude oil is now going for down to $55/barrel (€47 or 44 CHF). Russian crude costs a mere $40/barrel.

Priced in gold (as an inflation-adjustment), oil has never been cheaper, except during a quick spike at the beginning of the COVID Era. Natural gas also trending steadily down, both in absolute and real terms.

This is the signal.

volition 0mo ago

The US needs to expand oil and gas operations to further lower prices to stifle competitors and assist Europe.

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Discussion

Laeserin 0mo ago

I hadn't thought of that, but Russia breaks-even at $40. Well, it was breaking even at $40, before the refineries got hit. Now, it's more like $70.

I guess the Americans can also start dumping discounted Venezuelan crude on the market.

volition 0mo ago

That may help pay the costs of toppling the socialist Maduro.