Holy Cow, oil and natural gas going even higher than last big jump

[YouSayPotato]

Oil Price Jumps Above $80 and Natural Gas Races Higher, Turbocharged by Supply Shortages​

Crude prices are outpacing copper and other commodities by the widest margin in more than a decade​

Traders expect oil and natural-gas production will be limited by a global push to lower emissions and a scramble to secure supplies.​

By
Amrith Ramkumar
Updated Oct. 11, 2021 2:51 pm ET

The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy.
U.S. crude rose 1.5% to $80.52 a barrel on Monday, closing above $80 for the first time since late in 2014 and bringing its climb since the end of last October to 125%. Oil is now on track to outpace copper this year by the largest amount since 2002 and is topping an index of raw materials by the biggest margin in more than a decade, according to Dow Jones Market Data. Like oil, natural gas is also far outpacing other commodities.

 

[Crayfish57]

It's not Biden's fault though , he is just the President so expecting him to even attempt to do anything would be too much. It actually is Trump's fault for losing the election.

 

[SIBoiler2]

While killing the Keystone on day 1 has not caused the price hikes Biden's climate greeny push precludes him from doing anything to enable the increased production of US petroleum. The Trump years showed our ability to control our own petroleum destiny. Obama 2.0 Lite desires crushing prices and depends on begging OPEC for relief.

 

[TeddyValentineDidNothingWrong]

Don't care