Apparently I forgot to hit post last night but well this still stands so...
Earlier this evening Trump announced that Tehran would be hit “twenty times harder” if it attempted to halt oil flows through the Strait of Hormuz (even though they really have tried to do so). About 24 hour ago we had oil up over $110 and over night it almost hit $120 before falling back to around $94 by the end of the trading session today. Now though it is down an additional 10% falling to $85 in West Texas or $88 in Brent.
When President Trump stated earlier that "ships were continuing to pass through the Strait of Hormuz," a lot of people were confused or outright calling B.S. and I don't shame them for thinking so. However, it has become increasingly apparent especially today that ships are pulling a card that Russia uses and are just turning off their transponders while going through the Strait. It makes it a hell of a lot harder for the Iranian's to detect and more importantly track them to strike or attempt to board.
This isn't a fix and it doesn't mean oil prices will fall all the way back down but it does mean some oil is getting out. More importantly is something I have been hashing out is that it will allow water to get into the Gulf Countries which are headed straight to a huge water crisis. Iran has even struck desalination plants in one country and have attempted to strike more. At least there is a trickle of movement through the Strait and that is before any escorts have been implemented.
Update:
Yes of course the lifting of some sanctions also helps with the price as well but the market is much more interested and happy with the Strait not being completely closed like the initial thought was.
IMO that wasn't the reason 🙄. The reason was Trump announced he estimates the war to end soon
This was from last night like I stated when oil prices first fell 10%. Then have since fallen again from comments he made after the tracking data came out.
Or you can even go with the Saudi East-West Pipeline flow being reversed at this rate.
Oil wants to be sold!
Yep!!! Saudi reversed the flow on the one pipeline it has that now sends oil to the West Coast. That pipeline will be able to get Saudi exports back up to 70% of what they were when it is all done and the flow is maxed out!
I heard that Lloyds of London had refused to insure the ships, but ol' trumpy has insured them himself 😬
Whether that's all bluster i dont know
From what I have seen it seems that the US is setting up some sort of system but it takes a couple of weeks to fully set up. In the meantime between Iran's rapidly degrading abilities, tricks like transponders off, and possible US escorts everything can be held in check till the insurance thing is hashed out. I would not be surprised that if the first few usages of it are successful for Gulf States to join in as well.
Thanks for giving us the latest government propaganda, appreciate it.
So that's a war crime, right? But wait...didn't did the US strike Iranian desalination plants first?
And didn't the US ask for a ceasefire twice since the start of the war? Which Iran refused?
Love how you comment this on something that well is just pure facts just look at the oil market and look at the open source ship tracking data. The Iran claimed we struck a desalination plant but here we are days later and there is no evidence of this occurring or the US being responsible. I mean if the US bombed it do you really think Iranian local officials in Hormozgan say the water situation was fixed?
You are just literally agreeing with everything Iran has stated and use your critical thinking skills the US wouldn't have a reason to take their foot off the break because Iran's capabilities are so degraded. Remember how Iran said they would just saturate the bases with hundreds of missiles and flatten them? Funny how that hasnt happened. They lost most of their mobile launchers in the 12 day and now the remaining they have are toast.
Seems to me you are the one guzzling down propaganda since we can use satellite data and third party data for what I am saying while you are just regurgitating what the Iranian Regime is saying. Next you are going to say they sunk all of our air craft carriers or downed all of our F-35s like they have tried to say as well. Funny how there is no evidence and you would think that something so catastrophic would be impossible to cover up?
Do you also think that 600 members of Delta Force were captured by Iran while we are at it? I mean just lean into the wild claims at this point.
The same way the US wasn't responsible for bombing the girls school, and killing 160 young girls?
How are you even interested in bitcoin, and yet completely bought into this fedslop? That doesn't compute. Maybe you're a paid agent.
I'm posting at length on these topics on my own posts, not in replies on yours.
I have never said the strike on that school wasn't by the US. I said last Friday when I was asked about it the truth. I hadn't looked into it but if it was true it was a terrible tragedy and how every single child or civilian killed was a tragedy. My attention last week was almost entirely on Anthropic and oil news because at the end of the day that is my job.
You clearly have no idea who you are talking to with your second comment.... hell go look at my profile it will be extremely helpful.
Hope I provided some inspiration for your next loony post. Please go outside and touch some grass because bless your heart.
Fun fact, strait of Hormuz has never been closed. Ever.
Iran is a puppet proxy of the London financial system to weaponize oil and maritime insurance.
All it would take is one tanker to hit struck for oil to shoot back up again. That's the problem with Trump when you're so full of sh$t all the time it's hard to know what's real.
So Saudi has reversed its East-West Pipeline to flow to the Red Sea and within a couple more days will be able to return exports to 70% of what they were. Thats millions of barrels back on the market and really out of Iran's touch. The Houthi's could try but they do not have the capability to really pull it off.
You applaud Trumps assassination of Iran leaders and use of force to seek regime change.
Trump and the US military are committing war crimes but thats OK because its the USA committing them.
Lets see how this all pans out.
How did it work out in Afghanistan?
Vietnam?
USA the petrodollar empire.
USA for decades now breaching international law and its own constitution by using drone strikes, kidnappings, torture and assassinations to maintain its global hegemony and wealth.