Oil Falls as Traders Weigh Middle East Return, Supply Glut Risks
Oil declined, with shipping traffic through the Strait of Hormuz picking up on hopes for a permanent US-Iran deal and a Wall Street bank issuing fresh warnings about a potential glut. Michelle Brouhard Head of Policy and Geopolitical Risk at Kpler joins Balance of Power to discuss.
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22 Comments
Is it just me or does anyone else feel like they are floating in thin air and gravity is going to take over real soon ?
Global reserves are drained Iran controls the strait and we have a supply glut huh
Well ill take the longs ig. No clue what happens after reality hits tho.
What about tank bottoms in July
What about tank bottoms in July
The US is gonna skip demand destruction and go straight to shortage and rationing at this rate. This "glut" is like opening a garden hose with the faucet off: the pressure will make the water in the hose shoot out briefly, but there's nothing coming after
We have no oil
we have had a few dozen tankers LEAVE the Gulf. Their risk threshold is considerably higher than any shipping companies contemplating sending their fleets into the Gulf and potentially stranding them in another flare up. Trump is considering everything from going back to strikes to using nuclear weapons. Shipping companies know this – they are not sending their fleets back at all. Meanwhile we are drawing down on reserves around the world. We are heading for a major energy shock and complete disaster.
Propaganda, why they did this I don't know
Thank 😂trump!
Fantastical tales
So if, if, if, and if? ☻
how long can you hide behind the words. oil squeeze if reality can't catch up
“Supply glut” as Cushing Oklahoma is below operational safe levels 😂
Buahahahahahhaahha. Gas is going to be $10/gallon.
The US has been selling off the SPR to keep the supply up on the world market in order to keep cost of a barrel down and help out countries in need of oil. The US has also been drawing down on the SPR for its own oil needs. The price of oil has been manipulated by a certain politician saying things like the war is going swimming well and Iran is begging for a deal and the war will be over soon and the price of oil will drop like a rock. I don't know exactly how low the SPR is because I have read several different levels. Trump has stated that the US will be out of oil in four weeks. Oil price shock when the US stops selling off the SPR on the world market.
Just let everyone know oil companies have huge reserves stored dont look at the spr as if it's our only option
Supply glut? The same gaslighting as in Russia. I guess it's just speculators and usual summer demand. We will see who will be starving next year after farmers were unable to buy fuel
The strait is not open and somebody has to pay for the tankers, crude and crews stuck for weeks. Democracy and low gas prices were pre trump things we enjoyed.
Nope. It’s goo going higher. Much higher
Oil futures and their financial fuckery are going to crash into the real world. The war in the Strait isn't done…
The current military build up and Israel going after Hezbollah mean the war could resume.