@trentkelp Inflation adjusted oil went to $230 in 2008, just because China and India wanted a lot of oil, there wasn't even a crisis. If the shortage hits oil could really spike before demand destruction.
@trentkelp Most of our SPR is going to Europe, what happens when that stops? Also Rory Johnston and the Kepler guy said they haven't really seen or heard of any demand destruction in China.
@joekent16jan19 People forget even hezbollah is deploying drones equipped with thermal vision. Totolly different kind of war alot of bad shit is going to be coming out of those fortified mountain bunkers.
@IiiRicher@trentkelp Im just fucking around man😂 the situation is still not ideal, im long equities with short term hedges into the weekend, no oil position yet but crack spreads are at a record level, so refiners should do well, no big position there yet just a small one.
@HormuzLetter That's the thing, Iran has only retaliated so far, what if they start hitting GCC countries during market hours? Or close the Red Sea during market hours?
Oil on water in the Persian Gulf has returned to pre-war levels following the escape of long-stranded tankers over the past few week
Fantastic new for long-stranded tanker crews, less good news for the sustained pace of Hormuz exit flows, which have rolled over
data via @Kpler