If Hormuz stays closed through April, is $150 Brent the new floor?
If Hormuz stays closed through April, is $150 Brent the new floor?
https://i.redd.it/ob77u67ftzsg1.png
Posted by Spirited-Gold9629
12 Comments
notreallydeep on
For a bit? Sure maybe.
Forever? No.
Wrong-Inveestment-67 on
We could see enough demand destruction to the point where the strait isn’t relevant to oil anymore. We actually have some viable alternatives to oil when it comes to a majority of its usage.
Riverix1981 on
Long term, I would be more worried about what infrastructure is destroyed and what isn’t. The straight can be open, but if the countries can’t not produce crude due to damage then it doesn’t matter.
singlebud on
Lmao the permabulls writing this off as okay are so dumb. I mean LNG plants and refiners are gonna take years to come back, at least 3-4 years for us to be back to normal if we start NOW. Regards.
InfiniteNerve1384 on
100% that’s the new floor. At least for the next 9-12 months.
BeGenerousWithEarth on
It will be the floor until everything collapses and the only way to survive will be cryptooooooo
TurnoverComfortable5 on
Trump achieved exactly what he did not want. Alternative energy like H2, solar and wind power will boom after this since no country wants to be dependent on one or 2 idiots.
BreakfastMedical5164 on
200
BreakfastMedical5164 on
when a bunch if permabull regards who cant type strait start yappin, i know to buy puts
muttsnuggler on
the pizza report hasn’t updated in 5+ hrs., something must be afoot. ceasefire was rejected, plane was downed- this either = US withdraw leaving the strait in Iranian straits, or escalation on the island .
NewHope13 on
$150 at least, if not higher
floridabeach9 on
the floor? no, 100% not.
saudi arabia is getting 7m bpd through their pipeline (when 0 bpd was going through before the war). iran IS LETTING SOME TANKERS THROUGH. it’s not 100% closed. its down to about 80% closed, which can absolutely change. but other countries produce oil, other countries have reserves and the situation can absolutely improve.
7m + 4m bpd means about half of oil production has recovered since the war started. its unlikely to remain near $150 for long.
12 Comments
For a bit? Sure maybe.
Forever? No.
We could see enough demand destruction to the point where the strait isn’t relevant to oil anymore. We actually have some viable alternatives to oil when it comes to a majority of its usage.
Long term, I would be more worried about what infrastructure is destroyed and what isn’t. The straight can be open, but if the countries can’t not produce crude due to damage then it doesn’t matter.
Lmao the permabulls writing this off as okay are so dumb. I mean LNG plants and refiners are gonna take years to come back, at least 3-4 years for us to be back to normal if we start NOW. Regards.
100% that’s the new floor. At least for the next 9-12 months.
It will be the floor until everything collapses and the only way to survive will be cryptooooooo
Trump achieved exactly what he did not want. Alternative energy like H2, solar and wind power will boom after this since no country wants to be dependent on one or 2 idiots.
200
when a bunch if permabull regards who cant type strait start yappin, i know to buy puts
the pizza report hasn’t updated in 5+ hrs., something must be afoot. ceasefire was rejected, plane was downed- this either = US withdraw leaving the strait in Iranian straits, or escalation on the island .
$150 at least, if not higher
the floor? no, 100% not.
saudi arabia is getting 7m bpd through their pipeline (when 0 bpd was going through before the war). iran IS LETTING SOME TANKERS THROUGH. it’s not 100% closed. its down to about 80% closed, which can absolutely change. but other countries produce oil, other countries have reserves and the situation can absolutely improve.
7m + 4m bpd means about half of oil production has recovered since the war started. its unlikely to remain near $150 for long.