❗️🛢#oil #fuel #crisis #macro
The US Strategic Petroleum Reserve (SPR) continues to rapidly hit new 44-year lows.
Trump now constantly insists that the US will soon begin replenishing the reserve, that oil prices will soon fall, and that record volumes of oil are already passing through the Strait of Hormuz...
There is no official confirmation that large volumes of oil are moving through the Strait of Hormuz, nor is there confirmation that Saudi Arabia has begun pumping large volumes via the East-West Pipeline. Only Western and pro-Western media outlets report that the East-West line is operating at near-full capacity, whereas Middle Eastern media and online channels report new strikes in the vicinity of the pipeline. The Houthis also frequently report new attacks on Aramco oil and gas facilities. Western media are very reluctant to release this information... Some experts believe the true severity of the oil situation in the Middle East is being deliberately downplayed. Indirect evidence of this may be seen in the fact that oil prices have been reluctant to fall even after G7 nations announced significant new market interventions.
At the same time, Iran is preparing for a major US attack—presumably following the US midterm congressional elections in November. Saudi Arabia is preparing for a massive military operation in the Red Sea against the Yemeni Houthis, while Zelenskyy promises to step up strikes on Russia's energy infrastructure. It is hard to even imagine where oil prices will be in early 2027 if all three factors play out... or what will happen to supplies of oil, LNG, and fuel...
Experts highlight the gravity of the situation, noting that the world's largest oil-producing nations—such as the US, Saudi Arabia, and Russia—are already facing acute fuel shortages...
We didn't have this kind of crap under Biden and Obama... (c)
The US Strategic Petroleum Reserve (SPR) continues to rapidly hit new 44-year lows.
Trump now constantly insists that the US will soon begin replenishing the reserve, that oil prices will soon fall, and that record volumes of oil are already passing through the Strait of Hormuz...
There is no official confirmation that large volumes of oil are moving through the Strait of Hormuz, nor is there confirmation that Saudi Arabia has begun pumping large volumes via the East-West Pipeline. Only Western and pro-Western media outlets report that the East-West line is operating at near-full capacity, whereas Middle Eastern media and online channels report new strikes in the vicinity of the pipeline. The Houthis also frequently report new attacks on Aramco oil and gas facilities. Western media are very reluctant to release this information... Some experts believe the true severity of the oil situation in the Middle East is being deliberately downplayed. Indirect evidence of this may be seen in the fact that oil prices have been reluctant to fall even after G7 nations announced significant new market interventions.
At the same time, Iran is preparing for a major US attack—presumably following the US midterm congressional elections in November. Saudi Arabia is preparing for a massive military operation in the Red Sea against the Yemeni Houthis, while Zelenskyy promises to step up strikes on Russia's energy infrastructure. It is hard to even imagine where oil prices will be in early 2027 if all three factors play out... or what will happen to supplies of oil, LNG, and fuel...
Experts highlight the gravity of the situation, noting that the world's largest oil-producing nations—such as the US, Saudi Arabia, and Russia—are already facing acute fuel shortages...
We didn't have this kind of crap under Biden and Obama... (c)