Updates
2:15 p.m. CT: oil surges:
- Brent: up 1.88%; up $2.24; trading at $121.70.
- WTI: up 1.82%; up $2.10; trading at $117.20.
- headlines:
- Biden to speak with Jay Powell tomorrow, Tuesday, May 31, 2022
- Saudi likely to raise OSP for crude oil headed to Asia
- US gasoline prices surge to new record high on Memorial Day
- commentary:
- everyone knows inflation will be around through 2023, keeping oil prices high (or higher)
- everyone knows that the Biden administration has no options left to bring down prices
- it's not crude oil production, so banning oil exports won't help
- putting an "emergency" cap on gasoline at the pump is a "bridge too far"
- in the past, high gasoline prices were transitory, Americans knew that, and accepted it; now, high gasoline prices are here to stay -- they are not going to be happy come November, 2022
10:51 a.m. CT: oil is creeping up:
- Brent: $120.90
- WTI: $116.30
Original Post
China re-opening. Stories everywhere.
Oil:
- Brent: $120.20
- WTI: $115.90
- despite stronger dollar
Keystoning America not mentioned once in this very long social media thread.
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The Book Page
From The Bohemians:
- laissez les bon temps rouler, p. 242
- Russian Pale of Settlement, p. 277
- the Portuguese lurcher,
Book ordered from Amazon today:
- The Dead Sea Scrolls, Edmund Wilson, c. 1955. Released January 1, 1955.
Will arrive first week in June; shipped from third party seller, not Amazon.
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