Before the Pandemic was a completely different period than today. Today the world is severely stressed by the threat of an ongoing war - that could conceivably drive the cost of gasoline to as much as $ 10.00 per gal in the US. All financial markets and oil futures HATE the unknown!

Sorry, its appears you are not interested. So, we will need to agree to disagree.

I am certain I don't know what all the causes are, but I am equally certain that your saying because two things did not happen simultaneously means they did not affect each other is also wrong. Seems somewhere back there you said Oil (actually big business) hates uncertainty, and that was based on futures - so, anyway.

Have fun, try reading some about global economics, the impact of the pandemic, and how just in time economics work.

So, you’re blaming wall-street, there the ones driving market. Oil companies sell on commodities stock exchange what ever the price is. So, all people buy/selling oil stock are also making historical profit’s. But, that’s ok for them, but not oil company actually producing it.

And another thing, you never responded to “ isn’t all crud oil dirty and hard to clean up”?

Don’t you mean the stock market severely stressing the world?

I don't think I said anything about the stock market. But, thank you for misunderstanding.

And I missed the comment about crud (did you mean crude?) oil. And some is worse than others, but I don't see your point, oil is expensive to clean and causes serious ecological damage, especially if it is spilt over an aquifer.

"Maybe"... :1rotfl::1rotfl::1rotfl:

Define "near future"...

So why were they up over a $1.00/gallon BEFORE all of that happened?

You continue to ignore the rise in priced BEFORE the ongoing war...

I'm beginning to think you're doing it on purpose... :popcorn:

I am quite interested. That is why I continue to ask questions and challenge answers I find to be incorrect...

The market reacts to uncertainty by raising prices.

The $64,000 question is: What was the uncertainty that caused prices to go up?

We know about the recent uncertainty, but what was the uncertainty that caused them to go up over $1.00/gallon BEFORE the recent problem?

Methinks many know the answer but won't admit it...

When you went to a gas station then, they checked your oil, water, air in your tires, and washed your windshield.

“ It’s easier to fool people than to convince them that they have been fooled.”
(Possibly) Mark Twain

Rising oil prices before the Ukraine war - why did they?

https://www.forbes.com/how-much-of-the-gasoline-price-surge-is-president-bidens-fault

Following the production collapse of 2020, the U.S. has been playing catch up as demand recovered. Rising oil prices — in response to insufficient supplies — are the predominant reason for the surge in gasoline prices.

In the last three months of the Trump Administration, oil prices rose by 32% as demand bounced back. From a monthly average of $39.40/bbl in October 2020 (source), the price of West Texas Intermediate (WTI) averaged $52.00/bbl in January 2021 — Trump’s last month in office.

In the first three months of the Biden Administration, the average monthly price of WTI rose by another 19% to $61.72/bbl. In the three months after that, prices rose another 17% to $72.49/bbl. Prices then bounced between $70/bbl and $80/bbl until January 2022. More on that below.

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

The article completely ignores what happened in November of 2020 that just might have had a tiny impact on the future markets in November thru January...

Oh, and just in case you missed it...

https://media2.giphy.com/media/j3HQ1zWosr1NS/giphy.gif