WTI: up $1.30 going into the weekend. Trading at $83.80.
Biden: gasoline prices won't be going down anytime soon. High prices are here into 2022 -- then, of course, comes the driving season. Link here to Irina Slav.
When I see headlines and one-liners like this I know exactly how this evolved. At his daily briefing by his staff, Resident Biden was told exactly that and that's what he passed on to the rest of us. I assume Resident Biden comes away with twelve one-liners / twelve single soundbites that he can remember about the US economy and global geopolitics on any given day.
High prices: I use the phrase "high prices" loosely and only in line with the meme. In fact, I don't see $80-oil all that expensive and if one looks at historical prices adjusted for inflation $80-oil is definitely not out of line.
US equity markets:
- both the Dow and the S&P 500 hit intra-day all time highs. Again.
- all sectors up this week except communications
- best sectors this week: real estate and financials
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Let's Go, Bakken
Active rigs:
| $83.82 | 10/22/2021 | 10/22/2020 | 10/22/2019 | 10/22/2018 | 10/22/2017 |
|---|---|---|---|---|---|
| Active Rigs | 29 | 14 | 61 | 71 | 54 |
No new permits.
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