Markets around the world could tumble on Monday and motorists are likely to pay more at the pump

The price of oil is expected to soar on Monday while stock markets could tumble as the US-Israel war on Iran rattles investors.

US crude oil is on track to rise by 9% when trading resumes, according to data from the broker IG, after Tehran said on Saturday it had in effect closed the strait of Hormuz, a key oil choke point, reportedly prompting the halt of some oil shipments.

IG’s weekend markets showed that US crude oil could rise to more than $73 a barrel when trading resumes in New York late on Sunday, up from $67 a barrel on Friday night. That would be its highest level since June 2025, when the US launched strikes on Iran’s nuclear facilities, and threatens to feed through to higher prices for drivers at the pump.

Analysts at Barclays said the oil price could reach $80 a barrel in the event of a “material supply disruption”.

  • Killer57@lemmy.ca
    42·
    1 day ago

    I am not changing my job to work closer to home, biking to work would be the literal death of me for cycling on the ringroad. Edmonton is NOT a pedestrian or Cycling friendly city. Not to mention it gets down to -40C in the winters.

    • kill_dash_nine@lemmy.zip
      33·
      1 day ago

      Your points about weather obviously stand as a massive blocker but regarding the road, wouldn’t it make sense to take a more direct route if you were mapping out a route for biking? That path is likely optimized for the speed of an automobile I would assume as that appears to be a highway (as someone who is not familiar with Edmonton or the Canadian highway system).

      Of course if those roads aren’t bike friendly, which you may have been referring to, everything goes out the window. Much easier when there are wide paths like you see in other bike friendly cities.

      • dudesss@lemmy.ca
        11·
        12 hours ago

        Killer57 doesn’t get it. Not everyone will be able to use a bike, but many people can and should. And we should be encouraging the people who can. I bike during the winter with mountain bike like tires, and I’m fine. Of course the same cannot be said for everyone. Also winter is only 1 of the 4 seasons, and there can be more to bike to than just work.

      • HellsBelle@sh.itjust.worksOPEnglish
        3·
        21 hours ago

        Winnipeg is probably just as bad as Edmonton for lack of alternatives to owning a car.

        I bought a robust e-bike late last summer, with the intention of riding it year-round. Then we got hit with a few storms and I realized city hall doesn’t give a shit about clearing road shoulders for me to able to use them. Never mind the absolutely unridable sidewalks with mushy frozen ruts that have caused more than a few falls, one snapping my rear brake handle (thanks climate change).

        I gave up and have had to revert back to our astronomically shitty bus service or walking – which is difficult because of multiple surgeries on my knee, ankle and shoulder.

        • dudesss@lemmy.ca
          2·
          3 hours ago

          That’s a tough situation. I understand 100% your struggles, and none are your fault at all. It’s beautiful you at least tried. Good job on that! Hopefully conditions are more favourable in the future.

          I’m hoping with enough e-bikers, the demand for oil and large vehicles will go down, and thus bring down the cost of them both – and also improve the environment, peoples health, and happiness.

          Besides sometimes dealing with the occasional brain rot folks on public forums (which is weird, especially for Lemmy), there is every reason to be optimistic and supportive about adoption where it makes sense.