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Bloomberg: Goldman Says Gulf Oil Flows Two-Thirds of Prewar Level
A lot of ships are still making the crossing dark with transponders turned off but the trend is clear. Iran’s (supposed) leverage over the strait is basically nullified, oil is passing through despite Iranian proclamations. Independent analysts now agree with what the US government was saying weeks ago, that millions of barrels are passing through the strait under American auspices.
US CENTCOM agrees, putting out this statement that the US has escorted a few thousand ships through the Gulf, carrying through three-quarters of a billion barrels of oil over the past few months.
What changed?
Axios: "That sucker is open": U.S. gains the upper hand in the battle for Hormuz
The US has apparently de-mined the Straits of Hormuz, although, interestingly, there don’t seem to have been many mines in the first place!
It seems as though Iran’s capacities to threaten ship traffic the Strait were severely degraded by US military action, but that Iran was successfully able to convince news reporters and insurance companies that it could target ships.
For instance, Brady Sullivan at CNBC says
Meanwhile, Reuters: Pipelines and ports: Iran war spurs Gulf infrastructure investment
Not only has Iran lost control over the Straits, but Gulf states are building new pipelines to reroute oil around the Straits so that Iran can never threaten them again.
And how does it look inside Iran?
WSJ: Labor Protests and Panic Buying Signal Growing Pressure in Iran
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Some might remember Trump’s infamous comments on this subject some months ago:
The Shakes take: Iran will never toll the straits, Iran will never have nuclear weapons, Trump was right about everything, a lot of people who believed Iranian claims are looking very, increasingly, increasingly!, foolish.
There's an incredibly easy and simple way to check if oil flows are fine and normal now that doesn't involve reading through a bunch of articles or trusting claims by the US government or Iran government or anyone else. A method that is as objective as we could ask for. And that's just to look at the market. Are oil prices at or near pre war levels? Is the price of gasoline or other oil products/futures/etc back down to normal? If not, then no amount of words can refute the truth that things are not in fact resolved.
Because there is an easy criteria through which this claim can be objectively proven, not meeting the criteria is a sign the claim is false.
Are you buying puts or calls?
That's a question for OP, who is claiming oil flows are back to normal and thus there should be a meaningful change in prices in the future.
And your response was to say “I think you are wrong.” My question (for both of you) is are you putting your money where your mouth is?
I'm not the one making a claim current oil futures are wrong! You're asking me to "put my money where my mouth is", but what does that mean when I believe the market is generally accurate and don't have a direction to correct it in? You don't get money for betting what everyone else in the market is doing, you have to take risk (go against them)!
It is OP who is claiming something that goes against oil futures and market predictions, and thus can be asked to put money on it since they would profit if correct. I would get nothing if I'm correct, as the market is already set properly.
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