At what price do we refill the reserves?

I'm glad we have this thread as a real time tracker. I hope I'm wrong on this and I end up losing my bet with Eagle, but this I suspect is the initial drop just the sugar high from the good news that the strait is going to hopefully stay open. Then we are going to get into the reality of how much damage was done to oil production facilities in the region, how long it takes to get shipping back up to full capacity, and how long it takes to build back the inventories throughout the entire world market that were used down to the bone to keep prices from exploding worse. My prediction is we are going to very soon see a stabling off of the price drops and maybe even some slight increases over the course of the summer, and assuming the strait remains open you'll be looking at February to March of 2027 before you see prices return to where the were pre-war. Again though I actually do hope I'm wrong and we are back to pre-war prices by July, would be thrilled to pay up my bet and eat that crow as that's a good thing for a whole lot of people who can't afford to eat not just the elevated gas costs but the elevated prices due to increased shipping costs because of diesel across the board. Hope I'm dead wrong and we see inflation back down in the low 3's/high 2's by August.

(06-22-2026 07:33 AM)VA49er Wrote:  At what price do we refill the reserves?

This isn't an easy question...and not really the correct one.

The SPR releases under trump for his Iran war were not sales like they were under Biden. Hence, the government doesn't directly buy oil to refill them. So there is no "we."

The SPR was actually depleted via loans, or exchanges. Companies borrow oil under an agreement now to at some later point return that oil, along with a set premium number of additional barrels. For example, they take 100 barrels and some set time later return 125 barrels...or whatever the actual premium percentage is.

I believe the refilling is set to begin later in 2026, but some agreements might actually push back refilling as late as 2028 or 2029. All dependent of course on each individual contract.

Hope this helps.

oh, lookie ... commie tommie believes he still has a poster left that tries to engage him in earnest ... isn't that cute...

the irony of full circle narcissism is not lost upon thine...

(06-18-2026 11:06 AM)oruvoice Wrote:  Wait...did the Oil & Gas expert just post an AI response to try and make his point, one which he doesn't understand?

yes, he uses several AI bots (including Claude) for his "opinion" which he tries to parlay as a facts and his "expertise". Not an original thought to be found.

(06-23-2026 07:51 AM)TheOriginalBigApp Wrote:  yes, he uses several AI bots (including Claude) for his "opinion" which he tries to parlay as a facts and his "expertise". Not an original thought to be found.

E V E R Y time I use any type of AI bot to provide detail on a piece of information, I CLEARLY label it as such.

If you can't comprehend this, I can't help you much.

Lastly, you claim I don't have original thoughts but all I post is opinion? That doesn't even make sense.

And you're free at any time to post any detail to dispute anything I post. Although, you're not capable, sadly.

(06-23-2026 08:28 AM)Redwingtom Wrote:  

(06-23-2026 07:51 AM)TheOriginalBigApp Wrote:  yes, he uses several AI bots (including Claude) for his "opinion" which he tries to parlay as a facts and his "expertise". Not an original thought to be found.

E V E R Y time I use any type of AI bot to provide detail on a piece of information, I CLEARLY label it as such.

If you can't comprehend this, I can't help you much.

Lastly, you claim I don't have original thoughts but all I post is opinion? That doesn't even make sense.

And you're free at any time to post any detail to dispute anything I post. Although, you're not capable, sadly.

#DearManginaMonologues

This just in, Gas prices DROPPING.... and will continue to do so until they eventually rise again.

Just end this dumb thread.

(06-23-2026 08:35 AM)Eldonabe Wrote:  This just in, Gas prices DROPPING.... and will continue to do so until they eventually rises again.

Just end this dumb thread.

Thread is dumb, but you keep posting in it? Care to square that circle?

Gas prices continue to decline in my area per AAA and WBIR.

Current: $3.46 per gallon
Week ago: $3.57 per gallon
2022 peak under Biden: $5.16 per gallon (adjusted for inflation)

Current in deep blue LA: $5.56 per gallon

Down to $3.10 in nearby Southaven, MS at Sam's. $3.25 at the one nearest me on Covington Pike in Memphis.

The nearest convenience store to me is just over a mile from my house. About 3 weeks ago, their gas was $3.99. As of yesterday, it has dropped to $3.49. Funny thing is that at the next nearest convenience store, right across the street, their signage says $3.49 also but the price at the pump is actually 2 cents cheaper. Those two stores have been waging price wars at their pumps for the entire 22 years I've lived out here in what was formerly the sticks.

If I wanted to find someplace similar to what my town was 22 years ago, I'd have to move 60 miles northeast of here. I wish I'd had the foresight to know that 40 miles from Memphis would be considered Memphis light in 20 years.

When I moved here in 2005 all you saw were pickup trucks. I have a picture of all the houses on my street during a heavy snowstorm about 15 years ago in which every single driveway up and down my street as far as the eye could see had a 4-wheel-drive pickup parked at the bottom of the driveway—all the houses have 150-200 ft driveways, with each house at the top of a ridge that I used to hunt on when this whole area was just woods. Now we are being overrun with soccer mom minivans, SUVs, and Teslas.

Fortunately, so far, all of our public officials are conservative, so the crap that goes on all across the country in liberal crapholes isn't tolerated out here yet. The school system in my county has one of the highest ratings in the state for quality of education and there's still plenty enough farmland. But even that is slowly disappearing.

Non ethanol under $4, it was almost $5 a month ago.

gas has dropped another 6 cents per gallon on the wholesale market today.

We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

(06-23-2026 04:58 PM)Eagleaidaholic Wrote:  We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

$2.99? Dang, I'm jealous. We're still hanging at $3.45.

Unfortunately, I still recall when gas was $1.70 in November at the end of Trump's first term.

AND...I still recall when gas was 30 cents a gallon when I first started driving...in 1962.

Of course, I also recall when bread was 10 cents a loaf.

(06-23-2026 05:03 PM)TripleA Wrote:  

(06-23-2026 04:58 PM)Eagleaidaholic Wrote:  We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

$2.99? Dang, I'm jealous. We're still hanging at $3.45.

Unfortunately, I still recall when gas was $1.70 in November at the end of Trump's first term.

AND...I still recall when gas was 30 cents a gallon when I first started driving...in 1962.

Of course, I also recall when bread was 10 cents a loaf.

I remember when a pack of smokes was .25, coke was a nickel and a candy bar was a nickel.

(06-23-2026 05:41 PM)Redbanksdog Wrote:  

(06-23-2026 05:03 PM)TripleA Wrote:  

(06-23-2026 04:58 PM)Eagleaidaholic Wrote:  We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

$2.99? Dang, I'm jealous. We're still hanging at $3.45.

Unfortunately, I still recall when gas was $1.70 in November at the end of Trump's first term.

AND...I still recall when gas was 30 cents a gallon when I first started driving...in 1962.

Of course, I also recall when bread was 10 cents a loaf.

I remember when a pack of smokes was .25, coke was a nickel and a candy bar was a nickel.

there were a LOT of stores that had "five and dime" in their name back in the day.

(06-23-2026 06:52 PM)UofMstateU Wrote:  

(06-23-2026 05:41 PM)Redbanksdog Wrote:  

(06-23-2026 05:03 PM)TripleA Wrote:  

(06-23-2026 04:58 PM)Eagleaidaholic Wrote:  We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

$2.99? Dang, I'm jealous. We're still hanging at $3.45.

Unfortunately, I still recall when gas was $1.70 in November at the end of Trump's first term.

AND...I still recall when gas was 30 cents a gallon when I first started driving...in 1962.

Of course, I also recall when bread was 10 cents a loaf.

I remember when a pack of smokes was .25, coke was a nickel and a candy bar was a nickel.

there were a LOT of stores that had "five and dime" in their name back in the day.

I haven't had a candy bar in years but the price of one now is off the charts.

(06-23-2026 05:41 PM)Redbanksdog Wrote:  

(06-23-2026 05:03 PM)TripleA Wrote:  

(06-23-2026 04:58 PM)Eagleaidaholic Wrote:  We're under $3.00/gal
https://www.gasbuddy.com/home?search=395...l&maxAge=0

$2.99? Dang, I'm jealous. We're still hanging at $3.45.

Unfortunately, I still recall when gas was $1.70 in November at the end of Trump's first term.

AND...I still recall when gas was 30 cents a gallon when I first started driving...in 1962.

Of course, I also recall when bread was 10 cents a loaf.

I remember when a pack of smokes was .25, coke was a nickel and a candy bar was a nickel.

You reminded me. When I was a kid, I used to ride my bike to the Bristol Theater on Summer Avenue in Memphis to watch a movie by myself.

For a quarter (my weekly allowance for cutting the grass and doing other chores at home), I could pay the admission, and buy a coke and a box of popcorn.

Pretty good chance WTI gets below $70/bbl today. Trading at $70.57 currently.
https://www.cnbc.com/quotes/@CL.1