Source: Fortune
Summary
As of May 19, 2026, the price of oil is $112.93 per barrel, up $2.85 from the previous day and $47 higher than a year ago. The price of oil is influenced by supply and demand, and can be affected by various factors such as wars, recessions, and OPEC decisions. The US Strategic Petroleum Reserve can provide relief during supply shocks. The price of oil also affects natural gas prices and has a significant impact on the broader economy, including inflation.
Our Reading
The numbers tell one story.
Oil prices are up, but the reasons behind the increase are complex. The US Strategic Petroleum Reserve is meant to provide relief during supply shocks, but it’s not a long-term solution. The price of oil affects natural gas prices, and the impact on the broader economy is significant. The article mentions the “rockets and feathers” pattern, where oil prices jump quickly but gas prices fall slowly. The US shale oil production also affects the current price of oil. The article concludes that the price of oil is influenced by various factors, including wars, recessions, and OPEC decisions.
Oil prices are a game of “rockets and feathers.”
Author: Evan Null
