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I see no other potentials in the short term but additional price increases unless Russia does an about-face on Ukraine. Even then, we’ll still see seasonality push prices up, so motorists should be ready to dig deeper," said Patrick De Haan, Gasbuddy head of petroleum analysis....Of course no one know where energy prices are going to be in the future, but...on one hand, Biden continues to (over)hype the Russian threat, which is adding a premium to energy prices and contributing to inflation. On the other, rising inflation is simultaneously putting him in a political pickle domestically as a result of the premium that his hype is in part creating. Sanctioning Venezuelan and Iranian energy just adds to his problem and, of course, OPEC+ knows this. Now he wants OPEC+ to offset it by pumping
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I see no other potentials in the short term but additional price increases unless Russia does an about-face on Ukraine. Even then, we’ll still see seasonality push prices up, so motorists should be ready to dig deeper," said Patrick De Haan, Gasbuddy head of petroleum analysis....Of course no one know where energy prices are going to be in the future, but...on one hand, Biden continues to (over)hype the Russian threat, which is adding a premium to energy prices and contributing to inflation. On the other, rising inflation is simultaneously putting him in a political pickle domestically as a result of the premium that his hype is in part creating. Sanctioning Venezuelan and Iranian energy just adds to his problem and, of course, OPEC+ knows this. Now he wants OPEC+ to offset it by pumping
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I see no other potentials in the short term but additional price increases unless Russia does an about-face on Ukraine. Even then, we’ll still see seasonality push prices up, so motorists should be ready to dig deeper," said Patrick De Haan, Gasbuddy head of petroleum analysis....Of course no one know where energy prices are going to be in the future, but...
on one hand, Biden continues to (over)hype the Russian threat, which is adding a premium to energy prices and contributing to inflation. On the other, rising inflation is simultaneously putting him in a political pickle domestically as a result of the premium that his hype is in part creating. Sanctioning Venezuelan and Iranian energy just adds to his problem and, of course, OPEC+ knows this. Now he wants OPEC+ to offset it by pumping more but they have refused to budge. And he is still hell-bent on imposing further sanctions on Russia, which would further affect energy price.
Brian Sozzi