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News & Current Events Apr 7, 2026 at 2:47 PM

Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens

Posted by xixi_90



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Ultimatelee Apr 7, 2026 +194
Weren’t things already bad enough with the grocery prices, housing prices, rents going up?! How is everyone supposed to survive
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AsparagusFern319 Apr 7, 2026 +146
Bold of you to think anyone in power gives a shit about whether we can survive or not
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ashurbanipal420 Apr 7, 2026 +18
More dead means less money the government has to spend on them. It's just business.
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ImaginationSea2767 Apr 7, 2026 +11
Bold of you to assume its just because of money they have to spend and not just Bible prophecies and bribes from Isreal and oil ceos thinking they can make more money from a little crisis. The rich have no idea how poor the working class is and they dont care. It was estimated that 70% were living paycheck to paycheck in the USA at the end of 2025. And if a riot happens the administration will have no problem sending in ICE.
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Hairy_Pound_1356 Apr 7, 2026 +5
Literally hiring one half the poor to kill the other 
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PyroIsSpai Apr 7, 2026 +3
Pinkertons
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RandomlyMethodical Apr 7, 2026 +8
Trump thinks the affordability crisis is a ["Democrat hoax](https://www.ms.now/news/trump-affordability-speech-pennsylvania-economy)". He's always been rich and doesn't know or care what a majority of Americans deal with every day.
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Wolfwoods_Sister Apr 7, 2026 +3
Hope they enjoy cleaning their own houses and raising their own food, but we know they don’t think about that either
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Obvious-Alfalfa-2952 Apr 8, 2026 +2
Without us their lifestyle doesn't exist
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AsparagusFern319 Apr 8, 2026 +2
Haven't you heard? They'll get AI to do all the work for them /s
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-password-invalid- Apr 7, 2026 +10
We are not their concern.
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Hendlton Apr 7, 2026 +3
The same way people survived much worse times. Some didn't, obviously, but it's not the end of the world. (Boy, I do hope that this doesn't age badly in the next few hours.)
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4estGimp Apr 7, 2026 +2
Haven't you heard, [humans cost too much](https://www.theguardian.com/technology/2026/feb/23/sam-altman-openai-energy-use-datacenters): > The OpenAI boss, Sam Altman, has tried to ease concerns about how much power is used by artificial intelligence models by comparing it to the amount of energy required by human development. >“People talk about how much energy it takes to train an AI model – but it also takes a lot of energy to train a human,” Altman told the Indian Express recently while in India for the AI Impact summit. “It takes about 20 years of life – and all the food you consume during that time – before you become smart.”
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tnypissdkumquat Apr 8, 2026 +1
No one will be able to afford to even work mwahahahahah /s
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Kritnc Apr 7, 2026
Put together a quick tool that shows how much gas prices could spike in your state if the Strait stays closed. Also has a live countdown to tonight's deadline: [https://thestraitwatch.com](https://thestraitwatch.com)
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Comfortable-Code7465 Apr 7, 2026 -8
same way you did two years ago when gas was the exact same price as it is today.
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Dealan79 Apr 7, 2026 +10
The problem with that logic is that food and housing inflation have continued to outpace income during those two years, so gas returning to previous highs means you're paying the same amount out of a smaller available fool of money.
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tellsyoutogetfucked Apr 7, 2026 +4
Except prices for most goods are now higher than they were two years ago on top of this new hike due to the fuel crisis.
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Hairy_Pound_1356 Apr 7, 2026 -9
As a landlord I’ll likely off set the cost by raising the rent 
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commutingonaducati Apr 7, 2026 +5
That's fantastic. Your mortgage stays the same (which your tenant pays off anyway) but just for good measure, raise the rent so they more problems staying afloat. That's admirable, thanks for your service
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Hairy_Pound_1356 Apr 7, 2026 -10
Gas bill doesn’t stay same the same , costs for me good up so I pass it to someone else like every other business  But yes it fantastic that can also likely raise it enough to offset some my increased personal cost agree you’re assement being a landlord is fantastic !  PS the tenants don’t pay the mortgage cause it’s been paid off for years although I do have an offer in on another property so they will be helping to pay off the mortgage on that one if it goes through 
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Ok-Adhesiveness166 Apr 7, 2026 +242
So MAGA are we winning yet?
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kraftdinnerwithsalsa Apr 7, 2026 +159
The conservative sub is still gargling his balls as the god king can do no wrong, I wouldn’t ask them
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FearlessFrank99 Apr 7, 2026 +87
That sub is quite obviously just a propaganda sub. Between massively limiting who can participate, banning anyone who disagrees, and the fact that most of the post are from the same like 5 users.
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Any_Parsnip2585 Apr 7, 2026 +57
It’s insane going over there. Gotta be flaired to comment.
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Ok-Adhesiveness166 Apr 7, 2026 +40
Somehow going to be Obama or Biden’s fault I’m sure.
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MongoBongoTown Apr 7, 2026 +9
"He's just doing what Obama/Biden were too weak ti accomplish. This war was already started decades ago by Iran, he's just finishing it." Common refrain today.
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DoubleJumps Apr 7, 2026 +9
I've already had some argue with me that this entire war is Joe biden's fault for not going to war with Iran himself.
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[deleted] Apr 7, 2026 -61
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[deleted] Apr 7, 2026 +29
[removed]
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[deleted] Apr 7, 2026 -5
[removed]
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UnnamedStaplesDrone Apr 7, 2026 +14
There are a bunch of dissenting posts they just get deleted it seems. Or accusations of being a secret liberal get thrown around a lot. Like there are a ton of older conservatives who gargled Reagan’s balls that can’t stand Trump
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Brockmcc Apr 7, 2026 +6
I don’t understand the mindset of his supporters. No reasoning. No rational. They seem like a giant group of people that never had friends until now. Now they feel apart of something and refuse to think they’re wrong about anything.
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RedEyed__ Apr 7, 2026 +11
"You just don't understand"
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ImmaNotHere Apr 7, 2026 +4
I'm wondering if this is all Trump's plan to cause enough civil unrest to the point where he can then use the Insurrection Act to cancel the midterm elections.
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Short_all_the_things Apr 7, 2026 +6
It might be *someone's* plan, but I don't think Donnie's in on it. He's just the useful idiot.
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BackgroundPotato9284 Apr 7, 2026 +1
Oil companies are.
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Lakedo Apr 7, 2026 +20
MAGA is fine with it, latest I saw the justification is as follows: We control Venezuela oil and now we are going to take out Iran and ME which are competitors. Then we (USA) will make bank on selling oil worldwide.
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Feligris Apr 7, 2026 +19
Great fantasy, too bad that they don't have any infrastructure to get any oil from Venezuela and won't have for a long time, and AFAIK the US *has* to sell its domestic oil abroad because their refinery capacity is configured to deal with a different type of cheaper crude oil which they have been mostly buying from Canada and Mexico. Also the "we" would almost certainly mean a few ultra-rich persons while the rest of the US keeps paying US$10/gallon or more for gasoline with no upside because of limited supply worldwide.
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pickleparty16 Apr 7, 2026 +7
Even if that plan were to work out, its not the common man thats going to benefit- just oil execs and trumps friends and family.
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Roselily808 Apr 7, 2026 +81
Can someone please remove Trump from his office and put him in a care home for the senile and demented where he belongs.
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herping_asia Apr 7, 2026 +72
Care home? He belongs in prison 
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Consistent-Study-287 Apr 7, 2026 +3
I'm pretty sure Guantanamo was created for people like him.
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Roselily808 Apr 7, 2026 +10
That's a very valid point of view.
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Toginator Apr 7, 2026 +3
You want to put him in the Senate?
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Roselily808 Apr 7, 2026 +1
No. The same applies to a huge portion of the senate. They should be in care homes or at the very least enjoying their retirement with grandkids and greatgrandkids.
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Twaam Apr 7, 2026 +3
Erm what?? Enjoying their retirement and free healthcare on our tax dollars after doing nothing their entire career??
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DrPsyz9 Apr 7, 2026 +2
I wish they would, but he's still a useful patsy so they will not. They'll use him to commit the war crimes so they can keep their hands clean, then maybe after that, but not before.
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big-papito Apr 7, 2026 +42
The fact that the futures price is still stuck $40 below is kind of nuts.
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xixi_90 Apr 7, 2026 +35
Physical oil price is the price "at the pump" so to speak. So what it costs a refinery today. WTI/Brent are futures, currently June delivery. Just expanding on your comment
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big-papito Apr 7, 2026 +9
Yes, I should be more clear as it's a nuance for most people out there. Physical spot is the price of oil now, "futures" is the price projected to be the market price in a few weeks via contracts.
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Bluemanze Apr 7, 2026 +22
Futures are driven by sentiment and a not insignificant amount of wink-nodding by financial groups that want to keep panic down. When you Google oil prices, the line graphs and news articles at the top are all futures prices. You have to dig a layer or two to see real barrel trades. Either we get the TACO of all time or reality catches up real soon though.
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MiserableTennis6546 Apr 7, 2026 +11
Probably, yes, but I think a lot of finance people think Trump and Iran will somehow work it out, because the alternative looks so unbelievably bad for everyone, it can't be allowed to happen. They tend to presume everyone is a more or less rational actor.
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HockeyPhoenician Apr 7, 2026 +13
#Winning! It's so much sir, I can't take it.
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The_Marine708 Apr 7, 2026 +11
At $150 a barrel, you'd be looking at roughly $5.20 to $5.60 per gallon as a national average. Crude oil still makes up about half the final price, with refining, taxes, and distribution filling out the rest. The same barrel math applies, yielding only around 19 to 20 gallons of gasoline after refining. States like California would likely be pushing $6.50 or even higher, while budget friendly states like Texas might still manage to stay somewhere around $4.80 to $5.00.
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socialistrob Apr 7, 2026 +3
Now if only the US didn't have a ton of tariffs on c**** Chinese electric cars.
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lastpassonright Apr 7, 2026 +22
This is catastrophic. Thanks a lot.
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Lopsided-Affect-9649 Apr 7, 2026 +23
The US is looking to profit from this crisis, which is why they invaded Venezuela and took control of their oil supplies before attacking Iran. They have turned themselves into Russia 2.0 and it's only going to get worse from here on out.
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[deleted] Apr 7, 2026 +5
[deleted]
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btstfn Apr 7, 2026 +4
I don't think that's how versioning works
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[deleted] Apr 7, 2026
[deleted]
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btstfn Apr 7, 2026 +1
Didn't say there weren't
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JoeRogansNipple Apr 7, 2026 +13
And this is where the puts are bought.... Just wait, the TACO will come and it'll all come crashing down and some people will make billions
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Korgoth420 Apr 7, 2026 +5
But my co-workers told me that Trump would lower gas and grocery costs. Was my co-worker mistaken? Did Trump lie to him with no intention of ever helping the working class? /s
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edmconsultant Apr 7, 2026 +2
Do we have the same coworker? Mine said that Trump had a plan and gas prices would be under $3.00 very soon and that Iran would live happily ever after and prices would be the lowest they've ever been. Does that happen after the bombs?
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Abject-Bowle Apr 7, 2026 +4
We are tired of your imaginary winnings, your orangeness.
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Redtex Apr 7, 2026 +3
Now if he "bombs everything" won't they have to charge triple in order to rebuild the support structures?
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PaulaDeen21 Apr 7, 2026 +3
Yayyy! When are you actually just going to f*** off America?
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kingcakeaholic Apr 7, 2026 +2
If you think diesel is pricy now.
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Obvious-Alfalfa-2952 Apr 8, 2026 +2
How about now??
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gameyhobbit Apr 7, 2026 +3
I'm pretty sure this war was to increase petroleum shares and distract from epstein files. Among other things
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littlemoon-03 Apr 7, 2026 +3
Next week 10 dollars
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jugalator Apr 7, 2026 +1
Then you can party like we do in Europe! https://imgur.com/v8yjtky (USD/gallon, March 30, 2026)
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BilboBaginsehs Apr 7, 2026 +4
Trump crisis. This is the cause of 1 man
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Kritnc Apr 7, 2026 +1
If anyone wants to see what's actually at stake tonight — built a live tracker with the countdown, oil price data, and what happens to gas prices state-by-state if the Strait closes: [https://thestraitwatch.com](https://thestraitwatch.com)
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fangelo2 Apr 7, 2026 +1
Everyone is concerned about the price of gas which is a legitimate concern. But the price of diesel is the thing that will make everything you buy more expensive. Everything runs or is shipped by diesel. Farmers tractors, construction equipment, trucks , trains, fishing boats. Everything you buy is affected by the cost of diesel
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Tango-Down-167 Apr 8, 2026 +1
The price is cruel oil per barrel, diesel also comes from cruel oil in these barrel. So the price is impacting diesel as well as petroleum and all other petroleum products (aviation fuel, plastic etc), with the Strat closed even natural gas prices also impacted.
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Strikingly-Mediocre Apr 8, 2026 +1
Those are rooky numbers compared to next month's prices. 
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NY_Knux Apr 7, 2026
As opposed to digital oil prices
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Just_the_nicest_guy Apr 7, 2026 +7
As opposed to oil futures. Most oil is sold as a contract to deliver oil in the future; the oil being bought and sold only exists in theory at that point. "Physical oil" is specified here because it's a spot price for someone who is actually paying money to haul oil away.
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NY_Knux Apr 7, 2026 +3
Thank you for the explanation! I didnt know that.
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jamie9910 Apr 7, 2026 -17
Trump! Trump! Trump! Trump!
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dhaliman Apr 7, 2026 -2
Can’t we buy him another plane to calm him the f*** down?
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Son-of-Baltimore Apr 7, 2026 -10
Well that’s about to be solved!!!
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selfiecat Apr 7, 2026 +7
Ain't nothing getting solved
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MiserableTennis6546 Apr 7, 2026 -3
Give him the nobel peace price if he pulls out. It's worth it.
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scarab1001 Apr 7, 2026 +9
If only Trumps father had pulled out.
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