Member Info for JAS78

Currently £2.18, market seems unfazed

Cushing level also one to watch

“We need to safeguard sovereign manufacturing and production capability across the country in critical sectors like defence, energy, food and farming, rather than just being prepared to let it go as we have sadly done in the past,” Burnham said on Monday

If the SPR report this week shows another significant drawdown that may start to focus some minds, especially as the SoH has been ‘open’ for over a week

Another thing I’m not hearing much about is mine clearance, according to the MoU Iran had 30 days to make best efforts to clear, well someone enlighten me they have made no effort as yet and we are 10 days in

Now imo Iran have no interest in clearing these mines as it has no benefit to them, they want to control the flow of traffic leading to tolls and the best way to do that is forcing traffic to use designated routes, the mines will be left where they are. I’d imagine this will soon become apparent to the Americans and cause another large bone of contention. You would imagine any Iranian shipping is being waved through, no sanctions, whilst they are dragging their feet for other countries, especially ones they associate with the enemy, Iran can give there selves an economic boost, all the while limiting other ME income. They may also start to seriously threaten the Oman route, implementing even further control.

US have carried out further strikes, retaliation for the Tanker

Trump at it again after market close

One man's warped ideology leaving the UK completely vulnerable, both militarily and with our energy security

Absolute disgrace, the weakest Government we've ever had to endure

POO movement doesn't make sense atm, given logic and all the evidence presented on the ground

As it doesn't make sense to me I'll happily continue to hold

Trump bingo will end quite soon when the physical oil stocks actually run out

Then reality will be forced to drive the markets

Iran are going to play this game continually, they can send Trump and Netanyahu in to direct confrontation. Also drag it on destroying their upcoming elections

There is no easy answer, total self inflicted mess

Iran have closed the strait of Hormuz

Claiming Israel violations, Iran have the West by the balls. Trump has no answer

Iran have closed the Strait again

I wouldn't be surprised, Iran are like a kid in a sweet shop atm, they cannot believe all the goodies on offer. One of the biggest is turning Israel and the US into a direct diplomatic conflict. Unbelievable self inflicted situation, Netanyahu and Trump have made catastrophic errors

The whole signing tomorrow of this MoU seems very odd, signed already digitally, signed by Trump yesterday for the camera, why are they messing around with tomorrow it's an embarrassing deal for the US and Iran probably have no appetite to meet anymore of Trump's minions face to face.

All this for a 14 point piece of paper that neither side has to honour anyway

If it's already signed just get on with it, I smell some shenanigans

I'm still in the belief that oil demand is soon going to completely outstrip supply, the SPR releases have kept the wolves from the door but now that is running out fast. We know that as Trump has just signed a surrender document, he caved in as he knows the energy situation is now critical

The supply is not going to come fast enough to satisfy the upsurge in demand simple equation, let's where the market goes when this becomes apparent

Sadly this hasn't finished above £3 for about 4 years

Mainly because Conservatives and Labour have set about destroying our NS energy supply. You would imagine going forward several Asia countries are going to be creating huge stockpiles to protect themselves from this situation occurring again, meanwhile our government are ordering Solar panels hoping the sun stays out.

Another thing is how many barrels are actually on Tankers waiting to leave, I've read 100Mb ish, that's the equivalent of around 1 day World consumption? Even if they all set sail today it's not going to touch the sides.

That's before new tankers have permission to arrive, load up and leave. It's a very very drawn out procedure. And that's when everything is running perfectly

A lot of shareholders won't be happy with that post, in fact you could say they've got the hump

I feel the current Brent drop is seriously overdone, commodity traders selling off to cover long positions? It's felt like some manipulation has been going on with the POO for a couple of weeks, paper is far easier to control than when actual reality hits. I think a bounce back to mid 80s on the cards where it may settle for now...

I'm going to hold well into July, let's see what unfolds. Market is acting as if we will have 10mbblsd flowing through SoH Friday onwards, as we know that is impossible. Tanker owners and insurance are going to want to see some concrete evidence of security before moving hundreds of ships. Also they need the confidence to send Tankers back in, who wants another stranded crew when trouble stirs again, especially based on a flimsy MoU agreement.

I won't be surprised if Iran cancels/delays the signing on Friday due to 'ceasefire violations' in Lebanon

I think they are quite enjoying this new power position, they can play Netanyahu directly against Trump. Won't be plain sailing that's for sure