>>61920655
Rate cuts are canceled pal. Inflation is going to keep coming in higher because of oil costs .

>>61920673
retarded take, the U.S. produces most of its oil domestically, we're also seizing venezuelas oil like crazy.

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>>61920687
lol. You need to go back with your stupidity . American oil is more expensive to extract compared to Saudi. We don’t have to refineries to utilize Venezuelan heavy crude . Thanks for playing though I’ll be on the other side of the trade of your dumb ass .

>>61920673
kek

>>61920673
incorrect.

>>61920655
Its a fortress!

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>>61920706
We have refineries in the gulf that can process heavy crude oil. Saudi oil is cheaper to produce but you then have to buy it from them at a markup and pay to ship it to the us. There is like a 4 dollar price difference between the two landed.

>>61920760
Faggot limited capacity refine doesn’t mean we can just straight up replace non heavy crudes with Venezuelan oil . And Saudi oil just got more expensive to import. Thats the point you retard energy costs are going up . Which means cpi is going up which means no rate cut. lol

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>>61920760
>>61920687
>manchild thinks the oil market is an RTS video game
It doesn't matter if the US has its own oil, dumbass. Oil prices affect each other through the globe. The US isn't an autarky yet, and when oil costs $100 for the Chinese, patriotism will not stop American oil companies from selling it to the Chinese to enjoy those prices. If blumpf tries to regulate that shit, China will buy it from elsewhere A, and American companies will sell it to elsewhere B. It balances out. Oil is too liquid, literally and figuratively. Even ISIS managed to sell oil.
The same goes the other way when the price craters. Remember when Saudi and Russia had a race to the bottom to see who can sell cheaper? Of course you don't, you had no hairs on your balls back then. It almost bankrupted American oil producers because American oil is expensive to extract, and the market doesn't care and will keep buying Saudi oil for cheap.