Why oil prices haven't gone crazy despite 6 months of US-Iran war(www.reuters.com)

7 pointsby ck26 hours ago2 comments

downrightmike5 hours ago
Because there was no real scarcity. China has about 1 year reserve from what we can see on satellites, not including what they have buried in their cave reserve system. So when the war started, they stopped buying the 20m/ barrels a day which is the loss from the Straight. It balanced out. This is all just a play to increase oil prices for oil companies
- ck25 hours ago
  um, they went from 100 ships per day through the strait
  to 3-8 per day
  for SIX MONTHS
  that most definitely causes shortages, not in US but rest of world
  the market is being manipulated downward until it pops
  click on YTD on this chart to see what I mean for proof, it is FLATLINED
  * https://en.macromicro.me/charts/94482/imf-strait-of-hormuz-n...
  * snapshot: https://i.imgur.com/zvBakus.png
  - downrightmike3 hours ago
    That was all media manipulation, supply didn't really constrain. The same amount of oil was always available, just not through the straight
ck25 hours ago
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