Oil is a commodity as everyone knows, which means it’s traded on pure speculation and not on actual market conditions. It’s the reason gas prices went up 50 cents in a week. Not because there wasn’t any gas…but because speculators anticipate the price (futures) will be higher for oil, and that drives up the price of contracts. It’s not as if there is a gas shortage. There is still plenty of oil to refine.

Oil shouldn’t be traded as a commodity. But that ship has sailed.

 

unfortunately, those oil ships AREN’T sailing. Don’t worry everyone, I’m sure there’s a concept of an idea floating around somewhere.

 

Citigroup adds a positive catalyst watch on Delta Air

Citi says it’s sticking with its buy rating on Delta.

“We are issuing a positive 30-day catalyst watch. We believe that the recent macro shock and fuel price volatility is increasingly priced into the airline stocks with the least amount of fuel exposure.”

 

Iran is - in good years - barely self sufficient in food. This hasn’t been a good year for them.

The EU is releasing 400 million barrels of oil from their reserves and the US about 120 millions from the Strategic Petroleum Reserve. That’ll buy 20-25 days time. The threat of secondary sanctions has been lifted so Russian oil will again be flowing to India and other areas. The big loser here is Ukraine, because the Russians are going to be selling with only a small discount to current prices and a lot of SAMs that might have gone to them are being burned up in the skies over the Middle East.

LPG is going to be tight for those countries that have become dependent on it, but the worst of winter is behind us. And yeah, refining capacity is going to be an issue.

But one fast attack boat is more than adequate to both protect itself and enforce a blockade around Kharg Island through which USUALLY passes 90% of Iran’s oil exports and you can’t eat oil.

Unless the politicians wimp out, the US is going to win this one.

 

There seems to always be a plan and a backup plan, which is good.

We’ll see which Federal Judge says we can’t control the Strait if it comes down to it.

 

You and I must be living in different timelines.

 

I generally just try to stay away from rage bait news headlines & agenda driven media stories and evaluate based on verifiable outcome.

 

Not unlike the mine laying ships, this thread is slowly sinking.

 

I’m sure you’d agree that some (many) of the rulings we’ve seen from partisan Federal district judges have been downright laughable. Thankfully, the USSC stepped in and curtailed some of the nonsense from district judges who were unilaterally blocking executive authority.

 

Thankfully we have a process. Whereas I might and the Supreme Court/Appeals courts have also disagreed with things the administration is doing, they have also agreed. That doesn't make the District courts partisan, irrelevant or less important.

Also, many of the "overturning" has only been stopping judges from using emergency authority while the cases play out in the courts and are not vindications as many want to believe