Iran has just blown up an oil drilling and exploration platform in Kuwait with precision missile/drone hits. Kewl as fuck, because i am twenty-to-one long crude futures since July 10th. Any escalation of the conflict, especially Straits blockades and destruction of oil infrastructure is good news to me now xDProof: https://archive.4plebs.org/pol/thread/538928463/>I established a long position in leveraged WTI crude futures effective July 10th, with a stop-loss order placed marginally below the $70 handle. Meanwhile the most talented speculator of Bolanda went short again under completely idiotic assumption that the Hormuz and Bab el-Mandeb Straits would be safe anyday now, even if 1/3 of the worlds oil transport gets fucked. USrael cannot compensate because the volume of oil transiting these chokepoints - nearly 30 million barrels per day - vastly exceeds global spare pipeline capacity (only 2.6 million barrels per day) and US domestic surplus production, leaving no physical or logistical way to bypass the blockades. Venezuela produces only about 1 million barrels per day. Years of underinvestment and sanctions leave its energy infrastructure completely degraded, preventing any rapid surge in output. Combining its limited capacity with US production cannot bridge a massive 30-million-barrel daily global deficit. While the US is a net exporter of total petroleum products, it remains a net importer of crude oil. Domestic refineries require heavier imported grades to run efficiently, meaning the US still imports millions of barrels daily leaving it fully exposed to global supply shocks.
