Bloomberg: JP Morgan Says $185 Oil Is In View If Russian Supply Hit Persists

If this continues and the price of a barrel of oil gets to $185 a barrel by the midterms, the Yellow Vests are going to look mild compared to what is coming in America.

Bloomberg:

“Brent crude could end the year at $185 a barrel if Russian supply continues to be disrupted, JPMorgan Chase & Co. wrote in a note Thursday.

Oil prices have skyrocketed, with Brent crude approaching $120 earlier Thursday as traders shun Russian oil after Moscow invaded Ukraine. U.S. President Joe Biden is facing calls to ban Russian imports of energy but so far has not imposed full blown sanctions on oil.  

Currently, 66% of Russian oil is struggling to find buyers, JP Morgan analysts including Natasha Kaneva said in the note.

In the short term, the scale of the supply shock is so large that oil prices need to reach and stay at $120 a barrel for months to incentivize demand destruction, the analysts said, assuming there would be no immediate return of Iranian crude barrels. …”

Masks were an annoyance.

Keep in mind how controversial masks and vaccines were in this country when hundreds of thousands of Americans, not Ukrainians, were dying of COVID. Now try to imagine how the working class is going to deal with $7 or $8 a gallon gasoline. Do you think they are ready to sacrifice?

Note: It feels like we are waging war on ourselves. The average price of gas in Moscow is $2.10 a gallon.

6 Comments

  1. Let´s hope this continue and it will not be the Russian government that fall but the ones of the west

    with all the other unrest bubbeling under the surface here and in Canada aswell as Europe because of covid,nowhite invasion,corruption and an abyssmal crime rate following all this we truly live in interesting times

    let´s hope for crude at 200 shall we
    do not rock the boat sink the fn thing

  2. Just hold on a little longer, Comrade Wallace – when the War Of Ukraine Vs the Soviet Union is over the cost of a barrel of oil will plunge to $25/barrel during the Second Great Depression and beef will become so cheap that you will be able to water your lawn with it.

  3. “Yellow Vests are going to look mild compared to what is coming in America.”

    Do Americans have that much spine ?
    I have deep doubts.

  4. Of course Sulu is mad at Putin. When he cracked down on the gays a decade back that got the average liberal in the street furious. Sodomy is a Sacrament for the left, no matter what the real long game is for the smart globalists in NYC running things, for the average leftist propping them up the crackdown on the gays is enough to make them furious.

    Yes they have oil, but aren’t most of their distribution facilities located in Western Russia? Do they have a pipeline to the far east? Or does that all have to be loaded onto the Trans-Siberian railroad? How do they sell the oil to distant countries that don’t care about western liberals war on Russia when they were logistically set up selling most of it to Europe?

  5. I just went out yesterday in some nice weather and tilled some compost and manure into my garden to get ready for spring. Brings me to the subject of planting season about to begin in one of the world’s largest agricultural areas in the Ukraine and how this war will affect food production there and the price of food staples. Is it winter wheat already planted waiting to rebound in the spring and get harvested in a couple of months? Is is summer wheat, soy, etc that will require a lot of work in 6 weeks to get going? Are the seeds, fertilizer, pesticides and herbicides going to get delivered? I just heard Brazil was dry over the last few months and they had a lower than expected southern hemisphere harvest. Besides the oil, how will food costs spike following this thing the globalists are playing full throttle damn the results?

  6. None of this wouldn’t have mattered if Biden didn’t close down our pipelines. I wonder who is getting rich off this war besides the usual suspects.

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