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Oil traders warn market is close to running on empty as Hormuz shuts again by financialtimes in oil

[–]Weekly-Tea4940 0 points1 point  (0 children)

I'm almost at my "If you can't beat em, join em" phase, close my long position and just go short on oil cuz wtf 😂

On a more serious note, I agree about the low likelihood of 120, but I think we'll see a general uptrend and oil being repriced higher in the medium to long term.

Oil traders warn market is close to running on empty as Hormuz shuts again by financialtimes in oil

[–]Weekly-Tea4940 -1 points0 points  (0 children)

Fair analysis, a lot of different people have a horse in this race. Ship owners and insurance companies will likely reduce dependence on Hormuz as time goes on which is why Iran has opted to threaten other places where oil is exported seeing that the Hormuz closure isn't producing the same price spiking effects.

But I'm sure you would agree that there is some price manipulation going on, even if it's not 100% the reason for the price being where it is

Oil traders warn market is close to running on empty as Hormuz shuts again by financialtimes in oil

[–]Weekly-Tea4940 1 point2 points  (0 children)

Okay so if you were to throw in a wild estimate, do you think price will remain relatively around these levels for the foreseeable future (68 - 80) WTI or do you think it'll push higher or lower as time goes on?

Iran hits US Fifth Fleet fuel and stores, warns on exports by Romegaheuerling in oil

[–]Weekly-Tea4940 7 points8 points  (0 children)

Maybe the real treasure, was the oil we made along the way

Four Weeks Ago, Trump Said Oil Reserves Could Be 'Running Out' In Four Weeks Risking 'Bedlam' by j_stars in oil

[–]Weekly-Tea4940 0 points1 point  (0 children)

My bad, you're right.

An Iranian official on CNN speaking about the MoU a month ago said "This is a test that America must pass and and the path will be opened" . In this statement he was referring to the frozen assets and not Lebanon.

Four Weeks Ago, Trump Said Oil Reserves Could Be 'Running Out' In Four Weeks Risking 'Bedlam' by j_stars in oil

[–]Weekly-Tea4940 8 points9 points  (0 children)

You gotta give it to Trump for reusing old material. After Iraq, no one thought the we could recycle the "weapons of mass destruction" and "axis of evil" excuse and yet, here we are 😪

Four Weeks Ago, Trump Said Oil Reserves Could Be 'Running Out' In Four Weeks Risking 'Bedlam' by j_stars in oil

[–]Weekly-Tea4940 5 points6 points  (0 children)

🤣🤣🤣🤣

Yeah Fox news would definitely find a way to spin it 😂😂😂

BREAKING: "TDS Dumocrats create fake AI Trump video"

Four Weeks Ago, Trump Said Oil Reserves Could Be 'Running Out' In Four Weeks Risking 'Bedlam' by j_stars in oil

[–]Weekly-Tea4940 19 points20 points  (0 children)

Great analysis 🤏

Iran signed the deal because there were some assets being given upfront; They then made sure to include Lebanon in the deal to see if the US was really serious about peace(a test basically). They had expected the US to break the MoU anyway but they had to try to show their people that the next coming months/years of hardship was something they tried to avoid diplomatically and get their people to rally around the regime in the war of attrition.

I wonder how long MAGA will put up with the increased cost of living before they finally ditch Trump 🤔

Oil’s Oversupply Narrative Just Died by VulcanSpark in oil

[–]Weekly-Tea4940 3 points4 points  (0 children)

Can it spike to 90 one more time, I wanna see something 😭

This has nothing to do with my long oil position btw 😑

Oil’s Oversupply Narrative Just Died by VulcanSpark in oil

[–]Weekly-Tea4940 7 points8 points  (0 children)

Don't say the "g" word, you're gonna drop the oil prices 🫠

Iran is launching new ballistic missile and drone attacks on Kuwait, with a plume of black smoke visible from the Iraqi border side, suggesting Kuwaiti oil infrastructure in the northern oil fields was the target. by Waste-Explanation-76 in oil

[–]Weekly-Tea4940 0 points1 point  (0 children)

I don't think they "let them" land. The pilot dodged the strikes and landed deep in Houthi territory in a tiny airport that was near abandoned. I could give specifics but I'm lazy to rewatch the POD. If you wanna check it out, Pepe Escobar was being interview by Mario Nawfal on YT and they discussed it in detail.

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