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Notes -
Bloomberg: JPMorgan and Goldman See Mideast Oil Flows Near Pre-War Levels
Oil is passing coming through the Middle East again, at essentially pre-war levels. Some of this is from oil bypassing the Strait of Hormuz, and some of this is from oil transiting the Strait under American protection.
Diesel and gasoline are still stymied, but, mostly, because Iranian exports are being blockaded by the US.
But other Gulf States are increasing their own exports to compensate for the missing Iranian piece.
It appears that the Iranians are not capable of stopping exports from flowing through the Straits, and so oil exports are returning to normal.
Meanwhile, Iran seemingly wants to end the war, although none dare call it "surrender":
New York Times: Iran Proposes 7-Day Plan to End War
Iran wants, essentially, to return to something close to June's MOU, except on a faster timetable. Iran agrees to "reopen" the Straits in exchange for getting its confiscated $12 Billion, an end of the sanctions and blockade, and then to open discussions as to the future of its nuclear program.
Contrary to expectations that Iran is biding its time in hopes that Democrats will retake Congress, Iran says that it would prefer to reach a deal before the midterms.
Trump, however, is not interested:
AP: Iran indicates it’s received an official US response to its latest offer on ending the war
Iran prefers to call it a "win-win":
So, here's the current state of the war:
Shipping is moving through Hormuz and is increasing week-to-week. Total traffic out of the Gulf is approaching pre-war levels.
Iran has no ability to seriously threaten shipping in the Straits.
Iran is seemingly unable or unwilling to continue striking other American targets and assets in the Gulf
Iran remains blockaded and unable to export its own products, contributing to severe stress on the Iranian economy.
Iran is more interested in negotiating peace than Trump is.
Forgive me for repeating old arguments but I need to be clear about this: Trump was right about Iran and America is winning.
You said Trump had won in your previous posts and the war was over. So is America winning or has it won? Have you accepted the war isn’t over yet? It’s also hilarious to me that you count going back to pre-war levels as winning. Congratulations on getting back to the exact same place we were before the war I guess.
The war isn't about oil for the US, it's about Iran's nuclear program. Oil was just away for Iran to strike back. If non-Iranian oil is flowing and their nuclear program is stymied, Iran is losing and America is winning. Except that gas and diesel prices say that's not actually the case.
Certainly the war is not over, not until the US can reduce military presence at least back to pre-war levels without anything bad happening, said bad things including Iran shooting at merchant traffic.
I agree 100%. I actually had a similar comment last week saying basically the same thing you said in your second paragraph. As long as the US military can’t and the area isn’t the same as it was pre-war, the war is far from over. I don’t see any easy solutions for this other than giving Iran concessions that are not acceptable, so this war will continue for the foreseeable future in my opinion.
I also listed Trump’s pre-war aims noting that only one (destruction of their Navy) had been completed so the war is not over by Trump’s own standards. OP said they all had been accomplished, but I just don’t see that being anywhere close to reality.
Concessions won't even work, since they won't stick to their end. They're going to have to be destroyed, or they will win. Whether that can be done through attrition or is going to require actual invasion is still up in the air.
This is essentially the argument I made last week, so I agree 100%. The concessions I was talking about were ones that are a non-starter that would be so humiliating that the US would never accept them. But you are probably right that even if they got those, they will push for even more eventually. Thats why I made the argument last week to OP that the war isn’t over and the US can only win if the Iranian regime collapses.
"if the Iranian regime collapses."
Had a back and forth with "Lion of the Blogosphere" on X, he in favor the war. We agreed on this point about the regime, but I claimed the fallout would be even more refugees flooding into Europe. He responded, "that's Europe's problem." Incredible.
Agreed. The US could potentially cause the Middle East to go into even more chaos and that could have consequences all over Eurasia. Best case scenario to me is we go back to the pre-war situation, and that obviously won’t be worth the cost of the war.
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