General Discussion

GreatGazoo

(4,774 posts)

15. You ignored all the numbers to nitpick about semantics

Thu Jun 4, 2026, 10:20 AM

Yesterday

and present no facts of your own.

Does China have 1 billion barrels in reserves? Yes
Is oil for December $80 Yes
Is Samuel wrong on this whole matter? Fortunately, yes

the number of freight trains transporting oil and liquefied petroleum gas (LPG) towards China has tripled nearly 50 days after Washington initiated a maritime blockade on April 13.

https://www.moneycontrol.com/world/iran-bypasses-us-blockade-with-rail-oil-exports-to-china-pakistan-freight-traffic-surges-article-13936437.html

Reality:

Crude Oil WTI (Jul '26) 92.42
Crude Oil WTI (Aug '26) 89.62
Crude Oil WTI (Sep '26) 86.72
Crude Oil WTI (Oct '26) 84.13
Crude Oil WTI (Nov '26) 81.97
Crude Oil WTI (Dec '26) 80.33

https://www.barchart.com/futures/quotes/CLZ26

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EX500rider

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Highlight:

If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash [View all] LymphocyteLover Yesterday OP

The shit is on the wing orangecrush Yesterday #1

The storage cushion is fudgy. bucolic_frolic Yesterday #2

President Bone Spurs had a plan to get out of Vietnam. Emile Yesterday #3

Daddy's not buying his way out of this one. dem4decades Yesterday #4

From another perspective cachukis Yesterday #5

there's definitely been some adaptation... but still a lot has been kept afloat by the reserves that are likely to run LymphocyteLover 21 hrs ago #27

No question. One of my worries is the takeover of cachukis 20 hrs ago #31

Absolutely. I totally agree on all those points. The stock market is particularly a mess IMO LymphocyteLover 20 hrs ago #32

Have invested mostly in real estate over the last cachukis 20 hrs ago #34

Why would " Diesel goes first"??? Melon Yesterday #6

800,000 to 1.2 million SamuelTheThird Yesterday #11

It's one country. Multiply across all oil producing Melon 17 hrs ago #41

Yes, but the key is how long the strait stays closed and how quickly the reserves run out LymphocyteLover 21 hrs ago #28

Diesel is often made from mideastern crude while gasoline is made from US crude JT45242 21 hrs ago #30

Not In The US, Though ProfessorGAC 2 hrs ago #45

Completely wrong. GreatGazoo Yesterday #7

lol@your link SamuelTheThird Yesterday #10

You ignored all the numbers to nitpick about semantics GreatGazoo Yesterday #15

Are America's strategic reserves at a 40 year low right before the summer season? SamuelTheThird Yesterday #19

Traders in Singapore, Beijing and Mumbai aren't duped by whatever Trump says GreatGazoo 20 hrs ago #36

This message was self-deleted by its author LymphocyteLover 21 hrs ago #29

Futures Are Not Delivery modrepub 18 hrs ago #39

"futures price contracts probably isn't a good predictor of actual future prices" -- meaning spot prices, yes GreatGazoo 15 hrs ago #42

Future Prices Are Not Necessarily modrepub 5 hrs ago #43

No. For anyone holding a March contract at $63 their price in March was $63 GreatGazoo 3 hrs ago #44

Appreciate your insight as I'm an admitted economic idiot. I can see where Exxon would be trying to "warn" Cheezoholic 23 hrs ago #21

Futures lock in a price right now GreatGazoo 21 hrs ago #22

Admittedly, Im no expert or even amateur...but SamuelTheThird 20 hrs ago #35

Since oil is sold as futures there is more profit when buyers panic about the future GreatGazoo 19 hrs ago #37

All hinging on a deal that isn't going to happen SamuelTheThird 19 hrs ago #38

Last week Exxon Mobil warned that oil inventories will fall to record low levels in coming weeks LymphocyteLover 20 hrs ago #33

Demand destruction WSHazel Yesterday #8

"one of the key reasons that Trump started this conflict was to increase energy prices"-- agree LymphocyteLover 21 hrs ago #25

And it's all part of the plan... 2naSalit Yesterday #9

Excellent summation. Kid Berwyn Yesterday #12

I don't think the Strait of Hormuz never reopening is going to happen, but it will not reopen without a major shock ToxMarz Yesterday #13

Agree. Thanks for the link. LymphocyteLover 21 hrs ago #24

Kick dalton99a Yesterday #14

MAGA does the full collapse kairos12 Yesterday #16

First the bastids want to grift off it, if they can. GreenWave Yesterday #17

But I thouight it would be open in two weeks. AverageOldGuy Yesterday #18

That's the point. Blue Full Moon Yesterday #20

Unbelievably awful LymphocyteLover 21 hrs ago #23

It's happening now as we speak. marble falls 21 hrs ago #26

Remember that the UAE left OPEC a few weeks ago WSHazel 18 hrs ago #40