Why isn't oil at $200/barrel yet?
>>542844377ORANGE FOOL
Pool is open, except for Iranian oil. That's why.
>>542844377Is $100 not high enough?
if you look at the 10 year trend, you can see the global events which cratered and soared oil prices>covid lockdowns in 2020>russian invasion of ukraine in 2022>iran war in 2026the issue is China is not buying at regular levels atm choosing instead to draw down it's 1.4b barrel stockpile, which has and will change https://www.cnbc.com/2026/09/10/china-crude-oil-iran-hormuz-war-trump-brent-prices-.htmlas well as the US burning through it's own strategic reserve to keep prices down https://energyfactbook.com/strategic-petroleum-reserve/the shipping lanes themselves are operating at an average of around a third of their volume which was offset by red sea exports but you can see that drastically dipping in recent months due to houthi activity https://hormuzstraittracker.com/what does this all mean? the longer these shipping lanes stay closed the more strategic reserves will be burned, but major powers aren't going to draw down reserves to 0, especially the US. Without resolution to this war by the end of the year i'd say we're only at the tip of the iceberg as far as the global recession that's going to hit. the indicator is not the current closures, it is when countries have decided that strategic reserves are too lowreposted from another thread
>>542844462the orange migger drink.
Townsends was right about everything. He really was an orange fool. We shouldn’t have said a single word, we should’ve listened; And that’s what no one did.
>>542845031Historical larpers are worse versions of theatre kids and should never be listened to.
>>542844377If they keep it artificially low they can stop the market from panicking and hope that the whole Iran situation gets sorted out before oil actually gets to a critical level where even the refineries are struggling to get fuel to power their own machines to make the fuel
>>542844414has anybody proven that he didn't do it on purpose though? he put out a vid claiming he didnt know but i have my doubts..
>>542844512Thanks Eric nuttall
