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Fuel Hike: There Is A Greater Pull On Demand Because Supply Has Been Constrained, Leading To Increased Prices — Sowunmi Crude oil is a commodity, which means it is fungible and has a uniform price all over the world with a dollar or two difference. To that extent, there...

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8 Kommentare

Profilbild von Tunji Makinde
Tunji Makindevor 6 Tagen

I simply cannot believe this comment section! What do we really learn in school? A lot of people cannot be all dumb at the same time. Nooo. This number is too much

Profilbild von The Breath✌✌
The Breath✌✌vor 8 Tagen

For crude oil that we extract from our own backyards and we have dangote refinery here in Nigerian, you are mention USA IRAN war for. It will never be better for you.

Profilbild von Sir P
Sir Pvor 8 Tagen

International oil prices and the Strait of Hormuz can certainly affect fuel prices, but using them to explain away every increase at the pump is too simplistic. Nigeria is an oil-producing country, and what Nigerians pay for petrol is also influenced by local refining capacity, import costs, exchange rates, distribution, taxes/levies, logistics and government pricing policies. So the question is not whether global forces matter they do. The real question is: how much of the increase is genuinely caused by global supply constraints, and how much is coming from Nigeria’s own structural problems? Blaming Hormuz alone may make for a convenient explanation, but it doesn't explain the entire Nigerian fuel-price story.

Profilbild von APOSTLE OF GRACE
APOSTLE OF GRACEvor 8 Tagen

But I thought Nigeria has crude oil, do our crude oil also pass through the strait of hormuz? What's happening, i need to learn?

Profilbild von wole sawyerr
wole sawyerrvor 8 Tagen

So are you saying the Nigerian govt. cannot give some oil to Dangote or NNPC to refine and sell to the people at a lesser price even though we are a so called a n oil country, God will judge all of you suffering the masses

Profilbild von Rallying Ryan
Rallying Ryanvor 9 Tagen

Supply and demand .. simple as that .. well explained

Profilbild von TOM EGBANG
TOM EGBANGvor 8 Tagen

Everyday stories

Profilbild von Dennis Owodiong-Idemeko
Dennis Owodiong-Idemekovor 8 Tagen

Sowunmi is explaining the global price of crude as though that automatically determines the price Nigerians pay at the pump; it doesn't. Hormuz can tighten global supply and push crude prices up, but Nigeria's petrol price is also heavily determined by domestic refining, 1/2

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Commodity market guru Jeff Currie on most of the world's exposure to higher gasoline and diesel prices: “The market is obsessed with the price of crude oil. It's ignoring the price of refined products. Ninety-nine percent of the world has gasoline and diesel exposure. They don't have crude oil exposure."
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Commodity market guru Jeff Currie on most of the world's exposure to higher gasoline and diesel prices: “The market is obsessed with the price of crude oil. It's ignoring the price of refined products. Ninety-nine percent of the world has gasoline and diesel exposure. They don't have crude oil exposure."

Steve Hanke

16,950 Aufrufe • vor 13 Tagen

Crude oil isn’t just gasoline and diesel A possible blockade of the Strait of Hormuz is raising alarms because oil touches almost everything in your life. Inside a refinery, crude is split into key products that keep the world running. -Liquefied Petroleum Gas (cooking) -Gasoline (~20% of crude) -Naphtha (plastics, synthetic fibers for clothing) -Aviation fuel (stable for aircraft) -Diesel (>30% of crude, powers heavy industry) -Heavy fuel oil (large ships) -Lubricating oil (machinery) -Asphalt (road paving) at the bottom. When oil supply is threatened, the impact goes far beyond fuel prices and hits the entire system. Source: Quirksea YT
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Crude oil isn’t just gasoline and diesel A possible blockade of the Strait of Hormuz is raising alarms because oil touches almost everything in your life. Inside a refinery, crude is split into key products that keep the world running. -Liquefied Petroleum Gas (cooking) -Gasoline (~20% of crude) -Naphtha (plastics, synthetic fibers for clothing) -Aviation fuel (stable for aircraft) -Diesel (>30% of crude, powers heavy industry) -Heavy fuel oil (large ships) -Lubricating oil (machinery) -Asphalt (road paving) at the bottom. When oil supply is threatened, the impact goes far beyond fuel prices and hits the entire system. Source: Quirksea YT

Mario Nawfal

75,372 Aufrufe • vor 5 Monaten

Venezuela's state oil company PDVSA is cutting crude oil production because it is running out of storage capacity due to an ongoing US oil blockade that has halted exports, increasing pressure on the interim government
1:31

Venezuela's state oil company PDVSA is cutting crude oil production because it is running out of storage capacity due to an ongoing US oil blockade that has halted exports, increasing pressure on the interim government

Reuters

79,018 Aufrufe • vor 8 Monaten

TOPICAL: On the first show after Nicolas Maduro’s extradition, Nick analyzes the effect of America controlling Venezuelan oil: even if Venezuela ramps to 1.5 million barrels a day it will not move the global oil price, and it is not a lot of oil for the United States. The real issue is the KIND of oil, heavy sour crude that Gulf refineries were built to run, and that extra Venezuelan supply would undercut Canadian oil exports of the same type to the US. "This is not a significant amount of oil production to affect the global price of oil." [AF 1619]
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TOPICAL: On the first show after Nicolas Maduro’s extradition, Nick analyzes the effect of America controlling Venezuelan oil: even if Venezuela ramps to 1.5 million barrels a day it will not move the global oil price, and it is not a lot of oil for the United States. The real issue is the KIND of oil, heavy sour crude that Gulf refineries were built to run, and that extra Venezuelan supply would undercut Canadian oil exports of the same type to the US. "This is not a significant amount of oil production to affect the global price of oil." [AF 1619]

Groyper Quant

45,713 Aufrufe • vor 21 Tagen

A plan to open the Strait of Hormuz Place a blockade on the outflow of Iran's from Kharg Island Any tankers filled with Iranian oil will be impounded until they allow free passage through Hormuz There is no reason to allow any Iranian oil to reach market
0:20

A plan to open the Strait of Hormuz Place a blockade on the outflow of Iran's from Kharg Island Any tankers filled with Iranian oil will be impounded until they allow free passage through Hormuz There is no reason to allow any Iranian oil to reach market

Jim Hanson

80,833 Aufrufe • vor 6 Monaten

HOW THE US MANIPULATES THE PRICE OF CRUDE OIL. It is clear to me that the US has used every tool and signal at their disposal to suppress the price of crude oil to further the administration’s goals. I will be presenting my research on this topic at noon today. stay tuned.
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HOW THE US MANIPULATES THE PRICE OF CRUDE OIL. It is clear to me that the US has used every tool and signal at their disposal to suppress the price of crude oil to further the administration’s goals. I will be presenting my research on this topic at noon today. stay tuned.

Sam Kovacs

19,586 Aufrufe • vor 1 Monat

Everyone is asking why gasoline prices refuse to fall even as oil gets cheaper. The answer has nothing to do with crude supply. China is buying dramatically fewer barrels, pushing crude prices down. But refineries cannot flip a switch and instantly convert that crude into gasoline, diesel, and jet fuel. Inventories were drained during months of disruption. New refinery capacity is years away. So the market has split in two: cheap crude on one side, historically expensive refined fuel on the other. The bottleneck was never about oil in the ground. It is about the world's shrinking ability to turn that oil into usable fuel, in the right place, at the right time. That gap is what shows up at the pump, and it is not closing anytime soon.
2:37

Everyone is asking why gasoline prices refuse to fall even as oil gets cheaper. The answer has nothing to do with crude supply. China is buying dramatically fewer barrels, pushing crude prices down. But refineries cannot flip a switch and instantly convert that crude into gasoline, diesel, and jet fuel. Inventories were drained during months of disruption. New refinery capacity is years away. So the market has split in two: cheap crude on one side, historically expensive refined fuel on the other. The bottleneck was never about oil in the ground. It is about the world's shrinking ability to turn that oil into usable fuel, in the right place, at the right time. That gap is what shows up at the pump, and it is not closing anytime soon.

Jeffrey P. Snider

21,354 Aufrufe • vor 1 Monat

An oil tanker that passed through Hormuz Strait has arrived in South Korea, the first such vessel to reach the country by transiting the strait amid Iran’s blockade. The Malta-flagged oil tanker, Odessa, was carrying one million barrels of crude oil to the port city of Seosan.
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An oil tanker that passed through Hormuz Strait has arrived in South Korea, the first such vessel to reach the country by transiting the strait amid Iran’s blockade. The Malta-flagged oil tanker, Odessa, was carrying one million barrels of crude oil to the port city of Seosan.

Al Jazeera English

70,527 Aufrufe • vor 4 Monaten

Bolton: Trump is focused on one thing and one thing only. The international price of oil. The better answer is to blockade the Strait of Hormuz and not let any Iranian oil out. If Gulf Arab allies can’t ship oil, neither should the Iranians. 1/
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Bolton: Trump is focused on one thing and one thing only. The international price of oil. The better answer is to blockade the Strait of Hormuz and not let any Iranian oil out. If Gulf Arab allies can’t ship oil, neither should the Iranians. 1/

Tymofiy Mylovanov

406,179 Aufrufe • vor 5 Monaten

President Trump insisted that “as soon as the war with Iran “is over,” gas prices will “drop like a rock.” Oil prices spiked to a four-year high on Thursday, with Brent crude briefly topping $126 a barrel as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the war.
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President Trump insisted that “as soon as the war with Iran “is over,” gas prices will “drop like a rock.” Oil prices spiked to a four-year high on Thursday, with Brent crude briefly topping $126 a barrel as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the war.

CBS News

20,502 Aufrufe • vor 4 Monaten

Iran's Kharg Island, a small strip of land about one-third the size of Manhattan, is at the center of the country’s oil economy—and increasingly, the Iran war. After Iran’s shutdown of the Strait of Hormuz, a narrow passage through which roughly a fifth of global oil flows, prices have surged worldwide. Kharg Island is Iran’s main oil export terminal, with deepwater ports that allow tankers to ship crude to global markets. President Donald Trump has repeatedly pointed to the island as a potential target, warning on Monday he could “obliterate” it if a deal is not reached. Here is what you should know about the main terminal for Iran’s oil exports in one minute. Read more here:
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Iran's Kharg Island, a small strip of land about one-third the size of Manhattan, is at the center of the country’s oil economy—and increasingly, the Iran war. After Iran’s shutdown of the Strait of Hormuz, a narrow passage through which roughly a fifth of global oil flows, prices have surged worldwide. Kharg Island is Iran’s main oil export terminal, with deepwater ports that allow tankers to ship crude to global markets. President Donald Trump has repeatedly pointed to the island as a potential target, warning on Monday he could “obliterate” it if a deal is not reached. Here is what you should know about the main terminal for Iran’s oil exports in one minute. Read more here:

TIME

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INTERVIEW: Is the market pricing peace while ignoring the possibility of another oil shock? Negotiations with Iran appear to be advancing, oil prices have pulled back, and traders are increasingly betting on diplomacy. But with the Strait of Hormuz still at the center of global energy markets, is the market getting ahead of reality? Energy economist Stephen Schork (Stephen Schork) joins Azi to break down the proposed Iran deal, Hormuz, sanctions, Iranian crude, inflation, and whether the biggest risks to oil markets are still being overlooked.

Mario Nawfal

234,934 Aufrufe • vor 3 Monaten

Commodity market guru Jeff Currie on the crisis in products refined from crude oil: “The product prices are what matters here. The crisis is here. It has arrived, and it's in the product prices, and it's not in the crude oil prices.”
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Commodity market guru Jeff Currie on the crisis in products refined from crude oil: “The product prices are what matters here. The crisis is here. It has arrived, and it's in the product prices, and it's not in the crude oil prices.”

Steve Hanke

25,713 Aufrufe • vor 13 Tagen

BREAKING: Iran is reportedly preparing to close the Strait of Hormuz. 20% of the global oil supply passes through this narrow section, potentially impacting global oil prices.
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BREAKING: Iran is reportedly preparing to close the Strait of Hormuz. 20% of the global oil supply passes through this narrow section, potentially impacting global oil prices.

Financelot

118,891 Aufrufe • vor 6 Monaten

President Trump has issued a strong threat to destroy every Iranian port and tanker if Iran disrupts the flow of oil, particularly through the Strait of Hormuz, a critical chokepoint for global oil shipments. This announcement has already caused significant market reactions, with crude oil prices surging by about 10% immediately after the news. The threat reflects escalating tensions in the region, with potential for serious disruption to global oil supply chains. - Proffessor jiang
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President Trump has issued a strong threat to destroy every Iranian port and tanker if Iran disrupts the flow of oil, particularly through the Strait of Hormuz, a critical chokepoint for global oil shipments. This announcement has already caused significant market reactions, with crude oil prices surging by about 10% immediately after the news. The threat reflects escalating tensions in the region, with potential for serious disruption to global oil supply chains. - Proffessor jiang

Masu Zafi 🔥🔥

282,660 Aufrufe • vor 6 Monaten

Trump is like a broken record at this point, and he's obviously playing with crude oil prices Trump says the US now has total control over the Strait of Hormuz, land areas included, and that Iran isn't ready to make the right deal. Worth remembering how much oil moves through that chokepoint, something like 15-20 million barrels some nights, so any talk of US control there is a big claim.
0:23

Trump is like a broken record at this point, and he's obviously playing with crude oil prices Trump says the US now has total control over the Strait of Hormuz, land areas included, and that Iran isn't ready to make the right deal. Worth remembering how much oil moves through that chokepoint, something like 15-20 million barrels some nights, so any talk of US control there is a big claim.

Ian Miles

18,558 Aufrufe • vor 1 Monat

BREAKING: STRAIT OF HORMUZ CLOSURE IMMINENT Iranian state television has announced that a full closure of the Strait of Hormuz is imminent: “Global financial markets disrupted Energy infrastructures damaged Oil prices surging to $400/barrel” “The Strait of Hormuz is the world’s most critical oil chokepoint over 20% of global oil supply flows through it.” Source: Iranian Tv
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BREAKING: STRAIT OF HORMUZ CLOSURE IMMINENT Iranian state television has announced that a full closure of the Strait of Hormuz is imminent: “Global financial markets disrupted Energy infrastructures damaged Oil prices surging to $400/barrel” “The Strait of Hormuz is the world’s most critical oil chokepoint over 20% of global oil supply flows through it.” Source: Iranian Tv

Sulaiman Ahmed

1,103,779 Aufrufe • vor 1 Jahr

On the night of July 8, Ukraine's Special Operations Forces struck two Russian oil refineries in Nizhnekamsk, Republic of Tatarstan. The targets of the SOF were the TANECO oil refining complex and the TAIF-NK oil refinery. ◾️ TANECO is one of Russia's largest and most advanced refineries with a refining depth of up to 99%, meaning it produces more gasoline, diesel, and aviation fuel from each ton of crude oil than many older Russian refineries. ◾️ The TAIF-NK refinery has an annual processing capacity of up to 8.5 million tons of crude oil. The facility includes one of Russia's most sophisticated complexes for processing heavy oil residues. Glory!
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On the night of July 8, Ukraine's Special Operations Forces struck two Russian oil refineries in Nizhnekamsk, Republic of Tatarstan. The targets of the SOF were the TANECO oil refining complex and the TAIF-NK oil refinery. ◾️ TANECO is one of Russia's largest and most advanced refineries with a refining depth of up to 99%, meaning it produces more gasoline, diesel, and aviation fuel from each ton of crude oil than many older Russian refineries. ◾️ The TAIF-NK refinery has an annual processing capacity of up to 8.5 million tons of crude oil. The facility includes one of Russia's most sophisticated complexes for processing heavy oil residues. Glory!

Anton Gerashchenko

21,460 Aufrufe • vor 2 Monaten

My take on the effect that increasing oil prices have on inflation: "There is a lot of narrative being spun in the newspapers saying that oil price increases will cause inflation. No. It simply means that the price of oil will go up in price relative to everything else."
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My take on the effect that increasing oil prices have on inflation: "There is a lot of narrative being spun in the newspapers saying that oil price increases will cause inflation. No. It simply means that the price of oil will go up in price relative to everything else."

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26,717 Aufrufe • vor 6 Monaten