People in India queued outside cooking gas distribution centers amid fears of a shortage of liquefied petroleum gas, as concerns over energy supplies grow following the ongoing crisis in the Middle East. reut.rs/4uhywYZ
🛳️ Three merchant vessels have been struck in Strait of Hormuz.
3 ships hit in or around the Strait of Hormuz. Based on the locations, nothing in the region is really safe.
www.duke-energy.com/energy-educa...
Great information here on the impacts of the closure of the Straight of Hormuz on the world economy. I have a better understanding of why Pakistan is taking a two week break for all schools, and India's mandate for their refineries to produce propane.
🎙️ I was thrilled to rejoin @weisenthal.bsky.social & @tracyalloway.bsky.social on the Odd Lots podcast to discuss the historic and ongoing disruption of traffic through the Strait of Hormuz, through which ~20% of the world's oil flows
This is it. This is the big one
open.spotify.com/episode/2rl8...
One thing I've been stressing is that, if Hormuz traffic remained stopped, the monumental oil supply shock will manifest as sharp price spikes in wealthy nations that sap disposable incomes
In poorer countries, the shock will manifest as outright physical shortages.
If you thought China was selling a lot of batteries and solar panels before, you’re going to love what happens next.
just listen to @roryjohnston.bsky.social on Odd Lots, it's the most efficient way to get up to speed.
www.bloomberg.com/news/article...
It’s not like mining will change the amount of traffic through Hormuz, which will go from zero to zero, but it immediately makes the fallout global and irreversible, by ensuring that traffic remains zero for the foreseeable future. Which is why it’s odd it’s getting only moderate press attention
Jet fuel for Asis is $230,
Jet fuel prices surge to record highs on supply disruption fears By Investing.com share.google/sbfHQ0yHG4RZ...
"would convoys help?"
"not if we're still being bombed?????"
BREAKING: The average price of diesel in the U.S. has now jumped $1 per gallon since the U.S. began attacks on Iran Feb 28.
Report: Saudi Aramco Shuts Down Two Supergiant Offshore Oil Fields
maritime-executive.com/article/repo...
Saudi Arabia's Aramco, the world's top oil exporter, predicts "catastrophic consequences" if the Iran war continues to disrupt shipping in the Strait of Hormuz. www.reuters.com/business/ener...
QATAR FOREIGN MINISTRY SPOKESPERSON: IRAN CONTINUES TO ATTACK QATAR'S CIVILIAN INFRASTRUCTURE
*IRAN'S IRIB: EXPLOSION OF AN OIL TANKER NEAR ABU DHABI
Early spring break for the kids.
Nope, still nothing moving.
The national average price of diesel has jumped 11.5c/gal today and stands at $4.726/gal. Crude oil prices are moving back down- if that trend sticks, diesel prices may top out in the next 48 hours around $4.75-$4.85/gal before starting to ease.
Still a big parking lot.
Strait of Hormuz oil transport grinds to a near-halt... for now
US SPR can only release 4 to 5 million b/d, how much oil can other countries release per day?
Huthis would be targeting this as well.
I don't think you have to Nostradamus to figure that bombing Iran might raise oil prices. And it seems pretty obvious that buying oil in advance of causing an oil price spike might just save Americans a lot of money. But...
...maybe there wasn't much planning?
Does anyone have a list for this? If not i might try and make one. There is some good ones on storage and ports
Al Ma'ameer oil refinery was hit and Bahrain issued a force majeure.
On the one hand, the Strait has been effectively closed for a week and can’t get anymore closed.
On the other, the longer it stays closed the more production shuts down as storage runs out and the longer it takes to restore volumes when it finally does reopen.
Iran struck Bahrain's Bapco refinery processing 267,000 barrels per day, attacked the US Fifth Fleet base in Manama and a US base near Erbil, Iraq. Brent crude topped $119 per barrel. Trump called critics of rising oil prices "stupid" for opposing the campaign against Iran's nuclear threat. #Iran
