Yes, we have plenty of oil because there has been tremendous amount of damage done to refineries in Russia, Iran, and the Middle East. Only refineries purchase oil, fewer refineries buying oil means there is plenty of oil for the refineries not damaged. The issue is with the crack spread, this is why the price of diesel has increased 54% in the US. This is why Russia, a major exporter, has started importing refined products. In Europe the price of fertilizer is up by as much as 40%, another product of refineries.Bump!!!
M.A. Rothman
๐๐๐๐๐: ๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐, ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐'๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐
Iran has all but shut down the Strait of Hormuz โ the passage that used to carry a fifth of the world's oil. Doomsayers predicted $300-a-barrel prices. President Trump says that never happened, and he knows exactly why.
"๐๐ต'๐ด ๐ข๐ต 83, 84, 85. ๐๐ฏ๐ฅ ๐ช๐ต'๐ญ๐ญ ๐ฃ๐ฆ ๐ข ๐ญ๐ฐ๐ต ๐ญ๐ฐ๐ธ๐ฆ๐ณ ๐ธ๐ฉ๐ฆ๐ฏ ๐ต๐ฉ๐ช๐ด ๐ช๐ด ๐ฐ๐ท๐ฆ๐ณ ๐ฃ๐ฆ๐ค๐ข๐ถ๐ด๐ฆ ๐ธ๐ฆ ๐ฉ๐ข๐ท๐ฆ ๐ฑ๐ญ๐ฆ๐ฏ๐ต๐บ ๐ฐ๐ง ๐ฐ๐ช๐ญ." Trump said, brushing off fears of a Hormuz-driven price shock. "๐๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐ข๐ณ๐ฆ ๐ง๐ช๐ฏ๐ฅ๐ช๐ฏ๐จ ๐ข๐ญ๐ต๐ฆ๐ณ๐ฏ๐ข๐ต๐ช๐ท๐ฆ๐ด, ๐ข๐ฏ๐ฅ ๐บ๐ฐ๐ถ ๐ฌ๐ฏ๐ฐ๐ธ ๐ฐ๐ฏ๐ฆ ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ข๐ญ๐ต๐ฆ๐ณ๐ฏ๐ข๐ต๐ช๐ท๐ฆ๐ด? ๐๐ฆ๐น๐ข๐ด. ๐ ๐ฐ๐ถ ๐ฌ๐ฏ๐ฐ๐ธ ๐ข๐ฏ๐ฐ๐ต๐ฉ๐ฆ๐ณ ๐ฐ๐ฏ๐ฆ? ๐๐ญ๐ข๐ด๐ฌ๐ข. ๐๐ฐ๐ถ๐ช๐ด๐ช๐ข๐ฏ๐ข. ๐๐ฉ๐ฆ๐บ'๐ณ๐ฆ ๐ค๐ฐ๐ฎ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ต๐ฉ๐ฆ ๐๐ฏ๐ช๐ต๐ฆ๐ฅ ๐๐ต๐ข๐ต๐ฆ๐ด ๐ต๐ฐ ๐จ๐ฆ๐ต ๐ฐ๐ช๐ญ."
Tanker traffic through Hormuz has ๐๐จ๐ฅ๐ฅ๐๐ฉ๐ฌ๐๐ ๐ญ๐จ ๐ ๐๐ซ๐๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐ฉ๐ซ๐-๐ฐ๐๐ซ ๐ฅ๐๐ฏ๐๐ฅ๐ฌ since Iran's attacks began, and Tehran is still refusing to lift its blockade until the U.S. Navy backs off. Analysts warned of a global energy crisis. Instead, American producers picked up the slack โ proof that ๐๐ง๐๐ซ๐ ๐ฒ ๐ข๐ง๐๐๐ฉ๐๐ง๐๐๐ง๐๐ ๐ข๐ฌ๐ง'๐ญ ๐ ๐ฌ๐ฅ๐จ๐ ๐๐ง, it's leverage. While Iran chokes off its own region's oil supply, American wells are cashing the check.
๐๐ซ๐๐ง ๐ญ๐ซ๐ข๐๐ ๐ญ๐จ ๐ฐ๐๐๐ฉ๐จ๐ง๐ข๐ณ๐ ๐จ๐ข๐ฅ. ๐๐ฆ๐๐ซ๐ข๐๐ ๐ฃ๐ฎ๐ฌ๐ญ ๐จ๐ฎ๐ญ-๐ฉ๐ซ๐จ๐๐ฎ๐๐๐ ๐ญ๐ก๐๐ฆ.
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