Oil news not good today

[Astro14]

Strait of Hormuz (sp?) is closed so the entire region cannot ship to ROW. So everyone who normally buys from that region will now compete on bids to buy from outside that region. This is on top of the loss of refining capacity in the region.

No.

The Strait is not closed - Iran claims it is closed.

Big difference.

Iran has claimed many things in the past couple of days that turned out to be patently untrue.

The question is whether or not shippers will transit the Strait during conflict, but that is not the same thing.

 

[Astro14]

The '68 Corvette L36 427 with wide ratio 4 speed and 3:36 rear is probably a high 5 to low 6 second 0-60 car, and high 13 - low 14 second quarter at about 100 mph.

The '24 M3P is a 2.9 second 0-60 and high 10 second at 125 MPH quarter mile car. You need a new Corvette to run those times.

They each have their place. The Tesla runs supercar times. The sound of the 427 through the turbo mufflers is pure heaven.

One is faster.

One has soul.

I know which one I would pick.

 

[D1dad]

My son went from high school and playing sports, so never really had time to hold a job. 3 sport athlete. To joining the navy, buying a car, paying insurance and filling it up in San Diego. Life can be cruel lol. Our gas went from $2.59 yesterday to $3.19, but not before I filled 3 cars and 4, 20l Jerry cans. Stinks but still less than my son pays by a lot. At least he bought a fuel miser that gets 38mpg.

 

[Snagglefoot]

Its up to the Maritime insurance companies whether a ship will traverse the Strait of Hormuz. I understand all war insurance coverage has been cancelled. Perhaps the administration will backstop the insurance.

 

[spasm3]

The '68 Corvette L36 427 with wide ratio 4 speed and 3:36 rear is probably a high 5 to low 6 second 0-60 car, and high 13 - low 14 second quarter at about 100 mph.

The '24 M3P is a 2.9 second 0-60 and high 10 second at 125 MPH quarter mile car. You need a new Corvette to run those times.

They each have their place. The Tesla runs supercar times. The sound of the 427 through the turbo mufflers is pure heaven.

I like how you state that. There is room to appreciate both.

 

[wavinwayne]

No.

The Strait is not closed - Iran claims it is closed...

But it makes it easier to jack up oil prices by going along with the narrative that it's closed.

 

[Snagglefoot]

Sort of like being a kid and making vroom vroom sounds. Eat my license plate.

 

[BMWTurboDzl]

No.

The Strait is not closed - Iran claims it is closed.

Big difference.

Iran has claimed many things in the past couple of days that turned out to be patently untrue.

The question is whether or not shippers will transit the Strait during conflict, but that is not the same thing.

I should've used quotes around closed. We'll see if anyone risks it. If not then it's essentially closed.

 

[goingplacesanddoingstuff]

If insurers won’t insure the route, it’s basically the same as the route being closed.

 

[Snagglefoot]

Price gouging at its finest, and alot of gas stations in the U.S. are owned by Iranians.

Naw that’s not it. It’s the traders. Traders got to trade. There has always been a question of why people in the USA have pay more when there is a problem across the world and very little oil comes to America from the Middle East. But this is what the agreement is. It’s called WTI but it should be called World Representative Price. (WRP). There is talk about not using the US dollar to price oil, but believe me, you wouldn’t like that.

 

[Snagglefoot]

I know exactly how to lower the price of 4 million bbls/day of imported Canadian oil by 10%. Ask how.

 

[PWMDMD]

If insurers won’t insure the route, it’s basically the same as the route being closed.

My wife has a cousin who does this for a living - his company provides insurance for cargo/oil ships. I'll have to pick his brain next time I see him.

 

[Chris142]

Kinda good for me. I own 1/2 of 1/8th of a share of an oil well in Rusk county Texas. When the price of a barrel goes up so does my monthly check.

 

[mk378]

Tankers are very vulnerable to shore-fired missiles. Iran doesn't need naval ships or a lot of military resources to "close" the strait to shipping, only the threat that they will fire missiles.

 

[Inked]

Poor Diddy. Sitting on all that oil without having any chance to profit from the rise.

 

[Lubener]

We all pay higher electricity costs

https://mybellinghamnow.com/news/29...increase-plan-for-electric-gas-bills-by-2029/

I should rephrase it , they consume more.

 

[gfh77665]

My son went from high school and playing sports, so never really had time to hold a job. 3 sport athlete. To joining the navy, buying a car, paying insurance and filling it up in San Diego. Life can be cruel lol. Our gas went from $2.59 yesterday to $3.19, but not before I filled 3 cars and 4, 20l Jerry cans. Stinks but still less than my son pays by a lot. At least he bought a fuel miser that gets 38mpg.

It was $5+ about three years ago. And 9%+ overall inflation.

Much, much better today.

 

[gfh77665]

Tankers are very vulnerable to shore-fired missiles. Iran doesn't need naval ships or a lot of military resources to "close" the strait to shipping, only the threat that they will fire missiles.

Straight is open. The US military knows how to handle things very well. Iran is already massively degraded after just a few days.

 

[4wd]

I should've used quotes around closed. We'll see if anyone risks it. If not then it's essentially closed.

I don’t think “not closed” guarantees normal traffic as various managers measure risk in this theatre of operations …
Mine just said get flights home - and expect them to cost more …

 

[JeffKeryk]

One is faster.

One has soul.

I know which one I would pick.

But this is apples to oranges. They both have soul, each n their own way. Why settle?
Aother thing, once can be used as a daily; the other would be a horrible daily driver.
By the way, paint like this requires talent beyond my comprehension, time, etc. Gotta love a pure piece of Americana...