Sure, sometimes, when you're cracking a few with your boys on a Friday night, you might try and make some conversation by saying, "Gee, how about them crude oil prices, eh?"
But trust me, these days it's no mere talking point:
U.S. and global benchmarks for crude-oil futures marched above $90 a barrel on Friday, as a harsh winter storm raged in the U.S., piling onto myriad supply worries.
"The latest upswing was triggered by a cold snap in Texas, which is fueling concerns about production outages in the Permian Basin, the largest U.S. shale play. A year ago, a period of extreme cold weather had caused massive disruptions to oil production there," said Carsten Fritsch, commodity analyst at Commerzbank, in a note to clients...
West Texas Intermediate crude for March delivery ... climbed by $2.42, or 2.7%, to $92.69 a barrel on the New York Mercantile Exchange. A settlement around this level would be the highest for a front-month contract since late September 2014, FactSet data show. For the week, prices traded roughly 6.8% higher.
Prices on everything are just going up, up, up these days, aren't they?
Add to that list gas prices, which—like oil—are at about a seven-year high:
The average price for a gallon of gasoline in the U.S. hit a seven-year high, according to AAA.
Currently, the national average is hovering around $3.423 per gallon. In September 2014, the national average was at about $3.4281, AAA spokesperson Andrew Gross told FOX Business.
A big congratulations to all the folks in the Biden administration who want to see cheap fossil-fuel energy spike to new highs. This is a busy time for them!
Not so much for the rest of us but that's life in Joe Biden's America.
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