Tuesday, March 14, 2017

It would be funny if they said ~ keep it.

Pirates hijack oil tanker off Somalia coast and demand ransom.

The world is still floating on oil. I don't understand why the prices have risen again while we are very near an all time high again at Cushing. I know the summer blend. Yada yada yada. But the dollar is still very strong. The pirates better sell this stuff before the price goes lower.


  1. Oil is fairly cheap. Gas is expensive. No new refineries, and when one gets shut down nothing replaces it. Production goes up at the old refineries, but costs are climbing as well. A new build refinery would be 60-90% more efficient then what they are using now.

  2. Oh I agree. But oil got down to about 29 bucks a barrel. It's now about 48 and nothing much has changed. If anything the dollar got a few cents stronger which has now receded. I'd call the dollar basically sideways since 29 bucks a barrel.

    It's funny how those refinery's find a way to shut down when the price is about to take a leg down. At least that is what I think.

  3. "We've been losing money on that tanker, so would you take it away and release our crew if we sign it over to you? And by the way ... WELCOME TO THE SHIPPING BUSINESS!"

  4. Well....when you put it that way....

    But if they could run any business they wouldn't be stealing oil tankers. So, lets see where this goes.