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Melon

(1,791 posts)

41. It's one country. Multiply across all oil producing

Thu Jun 4, 2026, 05:35 PM

8 hrs ago

Countries with the ability to produce oil.
Look at UAE dropping out of OPEC.
Look at Brent Physical Delivery vs Brent Futures. The lines have converged and are stable. Oil is available for a price. There is no “200!” Oil now or in the near term.

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If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash [View all] LymphocyteLover 18 hrs ago OP

The shit is on the wing orangecrush 17 hrs ago #1

The storage cushion is fudgy. bucolic_frolic 17 hrs ago #2

President Bone Spurs had a plan to get out of Vietnam. Emile 17 hrs ago #3

Daddy's not buying his way out of this one. dem4decades 17 hrs ago #4

From another perspective cachukis 17 hrs ago #5

there's definitely been some adaptation... but still a lot has been kept afloat by the reserves that are likely to run LymphocyteLover 11 hrs ago #27

No question. One of my worries is the takeover of cachukis 11 hrs ago #31

Absolutely. I totally agree on all those points. The stock market is particularly a mess IMO LymphocyteLover 10 hrs ago #32

Have invested mostly in real estate over the last cachukis 10 hrs ago #34

Why would " Diesel goes first"??? Melon 17 hrs ago #6

800,000 to 1.2 million SamuelTheThird 15 hrs ago #11

It's one country. Multiply across all oil producing Melon 8 hrs ago #41

Yes, but the key is how long the strait stays closed and how quickly the reserves run out LymphocyteLover 11 hrs ago #28

Diesel is often made from mideastern crude while gasoline is made from US crude JT45242 11 hrs ago #30

Completely wrong. GreatGazoo 17 hrs ago #7

lol@your link SamuelTheThird 15 hrs ago #10

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

Are America's strategic reserves at a 40 year low right before the summer season? SamuelTheThird 14 hrs ago #19

Traders in Singapore, Beijing and Mumbai aren't duped by whatever Trump says GreatGazoo 10 hrs ago #36

This message was self-deleted by its author LymphocyteLover 11 hrs ago #29

Futures Are Not Delivery modrepub 9 hrs ago #39

"futures price contracts probably isn't a good predictor of actual future prices" -- meaning spot prices, yes GreatGazoo 5 hrs ago #42

Appreciate your insight as I'm an admitted economic idiot. I can see where Exxon would be trying to "warn" Cheezoholic 13 hrs ago #21

Futures lock in a price right now GreatGazoo 12 hrs ago #22

Admittedly, Im no expert or even amateur...but SamuelTheThird 10 hrs ago #35

Since oil is sold as futures there is more profit when buyers panic about the future GreatGazoo 10 hrs ago #37

All hinging on a deal that isn't going to happen SamuelTheThird 9 hrs ago #38

Last week Exxon Mobil warned that oil inventories will fall to record low levels in coming weeks LymphocyteLover 10 hrs ago #33

Demand destruction WSHazel 16 hrs ago #8

"one of the key reasons that Trump started this conflict was to increase energy prices"-- agree LymphocyteLover 11 hrs ago #25

And it's all part of the plan... 2naSalit 15 hrs ago #9

Excellent summation. Kid Berwyn 15 hrs ago #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 15 hrs ago #13

Agree. Thanks for the link. LymphocyteLover 11 hrs ago #24

Kick dalton99a 15 hrs ago #14

MAGA does the full collapse kairos12 15 hrs ago #16

First the bastids want to grift off it, if they can. GreenWave 15 hrs ago #17

But I thouight it would be open in two weeks. AverageOldGuy 15 hrs ago #18

That's the point. Blue Full Moon 14 hrs ago #20

Unbelievably awful LymphocyteLover 11 hrs ago #23

It's happening now as we speak. marble falls 11 hrs ago #26

Remember that the UAE left OPEC a few weeks ago WSHazel 8 hrs ago #40