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re: Vice President says U.S. expects Strait of Hormuz to be open ‘toll free’ long term

Posted on 6/16/26 at 2:24 pm to
Posted by ragincajun03
Member since Nov 2007
29456 posts
Posted on 6/16/26 at 2:24 pm to
quote:

the world was supposed to end and the sky was supposed to fall


Do you have proof it didn’t?
Posted by northshorebamaman
Mackinac Island
Member since Jul 2009
38393 posts
Posted on 6/16/26 at 2:28 pm to
quote:

No, the world was supposed to end and the sky was supposed to fall.
That’s not really responsive.

If Iran got concessions without oil hitting $200, that doesn’t prove Hormuz lacked leverage.

It proves the leverage worked better than expected.
Posted by bad93ex
Walnut Cove
Member since Sep 2018
36473 posts
Posted on 6/16/26 at 2:33 pm to
quote:

That’s not really responsive.



You're right it wasn't, it was supposed to lead to economic ruin for all civilization but the economy kept going. Maybe it was all the hoopla around AI and data center buildouts but it didn't seem to phase anyone at all in my area.

quote:

If Iran got concessions without oil hitting $200, that doesn’t prove Hormuz lacked leverage.



Never doubted that the Strait holds leverage.

quote:

It proves the leverage worked better than expected.



They are $300B richer now and can lead Trump around by the nose now.
Posted by northshorebamaman
Mackinac Island
Member since Jul 2009
38393 posts
Posted on 6/16/26 at 2:36 pm to
Misunderstood your point. Apologies.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
78851 posts
Posted on 6/16/26 at 2:39 pm to
quote:

You started to see demand destruction in asian markets.


No one said it is over either.
Posted by bad93ex
Walnut Cove
Member since Sep 2018
36473 posts
Posted on 6/16/26 at 2:55 pm to
quote:

No one said it is over either.



Always a chance for a rug pull or someone to get "disrespected."
Posted by Decatur
Member since Mar 2007
32810 posts
Posted on 6/16/26 at 3:20 pm to
quote:

Not saying this isn't possible but despite it being shut down for 3 months, oil never touched $200 a barrel as was prophesized.


Worldwide reserves made this possible. Those reserves are much lower now. We didn’t have an unlimited roadway.
Posted by bad93ex
Walnut Cove
Member since Sep 2018
36473 posts
Posted on 6/16/26 at 3:26 pm to
quote:

Worldwide reserves made this possible. Those reserves are much lower now. We didn’t have an unlimited roadway.



Worldwide reserves, China's change in demand and workarounds

According to Bloomberg

Why isn't it $200 a barrel

quote:

It’s now been more than three months since the waterway was effectively blocked, creating the worst supply shock in modern history. But a slew of workarounds is keeping crude oil below $100 a barrel, defying many of the industry’s grimmest forecasts for prices as high as $200.

A combination of record US exports, a sharp and unexpected slowdown in Chinese demand and a steady trickle of crude still finding its way through the strait has helped absorb much of the shock from the loss of more than 10 million barrels a day of Middle Eastern supply. A pre-war surplus has also eased the blow.


Tehran is authorized to begin selling immediately, will we see an end to "higher-than-average' inflation?
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
78851 posts
Posted on 6/16/26 at 3:33 pm to
quote:

Tehran is authorized to begin selling immediately, will we see an end to "higher-than-average' inflation?


And no sanctions to buy whatever they want with that money.

Not to mention the regime in charge just firmed up it's grip hen talking about the westerners who want to do harm.

quote:

will we see an end to "higher-than-average' inflation?


How much capacity was lost will become a story with this recovery. The amount of inventory on water also went down a lot with Russian sanctions being lifted during this time.
This post was edited on 6/16/26 at 5:35 pm
Posted by Decatur
Member since Mar 2007
32810 posts
Posted on 6/16/26 at 3:38 pm to
I’m curious to look at tomorrow’s EIA weekly print to see how Cushing reserves are doing. They were getting low. Still might get lower depending on how quickly things resolve.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
78851 posts
Posted on 6/16/26 at 3:45 pm to
quote:

I’m curious to look at tomorrow’s EIA weekly print to see how Cushing reserves are doing. They were getting low. Still might get lower depending on how quickly things resolve


They will be near operational min. Will take a few weeks to see the correction for supply. What that means for WTI trading may be interesting. There was probably some pressure of that looming storm cloud in this deal.

Even then a lot of governments will be pushing to bring in bbls to refill their SPRs.

I believe the US is at the lowest since 1994. And the reserve itself needs some serious attention and maintenance. Believe they may have learned some things with this last sell off.
This post was edited on 6/16/26 at 3:47 pm
Posted by cgrand
HAMMOND
Member since Oct 2009
49632 posts
Posted on 6/16/26 at 3:47 pm to
quote:

Based on Pentagon reports, direct US operational and munitions costs for the Iran conflict since late Feb reached ~$29B by mid-May. Independent estimates range $28-35B. This covers most expended munitions (e.g. 1,000+ Tomahawks) and equipment ops/maintenance. Full costs for damaged/destroyed assets, infrastructure, and stockpile replenishment likely push the total to $40B+. Broader trackers including regional aid exceed $100B. Exact final tally pending full accounting.
Posted by cgrand
HAMMOND
Member since Oct 2009
49632 posts
Posted on 6/16/26 at 3:50 pm to
quote:

US officials have now confirmed in a briefing that Iran will get full access to a total of $100 billion in frozen funds and the $300 billion reconstruction fund, both included in the deal with implementation now underway, per WSJ. More than $150 billion of the fund has already been committed, directly contradicting Trump's claims that the US would not contribute to the $300 billion fund, per Reuters.
Posted by NawlinsTiger9
Where the mongooses roam
Member since Jan 2009
40105 posts
Posted on 6/16/26 at 3:52 pm to
Holy frick

Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
78851 posts
Posted on 6/16/26 at 3:52 pm to
quote:

Trump's claims that the US would not contribute to the $300 billion fund, per Reuters.


He only claimed $300 million was fake news.
Posted by cgrand
HAMMOND
Member since Oct 2009
49632 posts
Posted on 6/16/26 at 3:53 pm to
miss lindsey says its a win guys, so pipe down
quote:

Lindsey Graham: Here’s what we’ve achieved. If this thing goes through, we’ve opened up the straits…There will be in a permanent ceasefire, hopefully, and we’ll try to get a nuclear deal with Iran. Hopefully, that will work out. If it doesn’t, then we’ve still achieved opening up the straits and stopping the fighting
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
78851 posts
Posted on 6/16/26 at 3:54 pm to
quote:

If it doesn’t, then we’ve still achieved opening up the straits and stopping the fighting


No way this is the talking points
Posted by NawlinsTiger9
Where the mongooses roam
Member since Jan 2009
40105 posts
Posted on 6/16/26 at 3:56 pm to
quote:

we’ve still achieved opening up the straits and stopping the fighting


We’ve made life just as it was in February for the low, low cost of a quarter trillion dollars
Posted by cgrand
HAMMOND
Member since Oct 2009
49632 posts
Posted on 6/16/26 at 3:57 pm to
a look inside the trump situation room

Posted by Byron Bojangles III
Member since Nov 2012
52414 posts
Posted on 6/16/26 at 3:59 pm to
14 Americans died for absolutely nothing.
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