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Clusters containing dozens of vessels each appear to signal positions in and around the Strait of Hormuz, suggesting that electronic interference and GPS jamming have soared at the critical oil chokepoint that’s effectively blocked for tanker traffic for more than a week now.

At least a dozen such clusters, some of which numbering more than 200 ships in unnaturally perfect shapes, appear on vessel-tracking data compiled by Bloomberg, pointing to intensified interference with positioning signals as the war in the Middle East continues.

The GPS jamming is the latest in a series of concerns for shippers and vessel owners who have been unable to have ships cross either side of the Strait of Hormuz for more than a week, choking global oil and gas supplies and sending energy commodity prices soaring.

“Any vessel navigating the area clearly can’t rely on GPS,” Mark Douglas, a maritime-domain analyst at Starboard Maritime Intelligence, told Bloomberg.

Personally think till yesterday there was some logic to it all.

There was a war both sides were hitting each other.

A lot of oil was not getting to markets.

Now

No one knows what happens next to oil.

Oil markets can only guess what Trump’s next action is.

No one has a clue what Iran will do.

Do any of the countries bordering Iran decide to take advantage of a weaker Iran to absorb similar ethnic groups who are on the other side of the border.( suspect US airforce would help).

This truly is not over until it is over ( and obviously over)

Sometimes it does appear that Trump’s attention span is about 10 days then he wants to move on to something else.

Previous American Presidents have had the power to move markets .

None of them used this power as often as Trump,who sees it as business.

What happens next?

WP

Us mere mortals are not meant to understand things like that

New 52 week high today ( not the first one recently).

Slow rise 1-2% each day or 2 best way.

Spike up almost always leads to spike back down

New 52 week high today ( not the first one recently).

Slow rise 1-2% each day or 2 best way.

Spike up almost always leads to spike back down

Already talking about potential shortage in jet fuel.

Diesel was already tight and they both compete for the same part of a barrel of crude.

BP SAF will be worth more if there is a shortage.

Renewable Natural gas may also have an advantage for a while until this resolves.

As the oil price spiralled above $100 (£75) a barrel to, at one point, $115 a barrel early this morning, word emerged of an emergency meeting of the G7 finance ministers - with the idea of a 300 million barrel release of emergency stockpiles co-ordinated by the International Energy Agency.

The speculation alone was enough to temper the rise in prices a bit, but they remain much higher than Friday’s close, and way above pre-conflict levels.

This can be of little surprise of course when millions of barrels of crude oil are stuck in the Gulf, and most Gulf countries are now reporting a slowing of their production at best - and force majeure shutdowns at worst.

Three hundred million barrels is, however, a massive number. It would be more than double the record previous intervention made in April 2022 after Russia’s invasion of Ukraine. These reserves have only been tapped five times.

If agreed, this would represent a quarter of stockpiles. But this also has the potential to be the biggest oil shock in history.

Three hundred million barrels is effectively less than three days of global oil consumption (104 million barrels), about a fortnight of normal traffic in the Strait of Hormuz.

From BBC

As the oil price spiralled above $100 (£75) a barrel to, at one point, $115 a barrel early this morning, word emerged of an emergency meeting of the G7 finance ministers - with the idea of a 300 million barrel release of emergency stockpiles co-ordinated by the International Energy Agency.

The speculation alone was enough to temper the rise in prices a bit, but they remain much higher than Friday’s close, and way above pre-conflict levels.

This can be of little surprise of course when millions of barrels of crude oil are stuck in the Gulf, and most Gulf countries are now reporting a slowing of their production at best - and force majeure shutdowns at worst.

Three hundred million barrels is, however, a massive number. It would be more than double the record previous intervention made in April 2022 after Russia’s invasion of Ukraine. These reserves have only been tapped five times.

If agreed, this would represent a quarter of stockpiles. But this also has the potential to be the biggest oil shock in history.

Three hundred million barrels is effectively less than three days of global oil consumption (104 million barrels), about a fortnight of normal traffic in the Strait of Hormuz.

From BBC

Not doing buybacks this quarter now seems like a master stroke.

Turning that cash to pay debt.

More revenue from higher oil price to pay debt.

Some proceeds from asset sales to pay debt.

Higher sp as a backstop against debt liability.

Higher prices for asset sales due to higher oil prices.

What a time to step in as new CEO

Thunder2040

Agree

And nations releasing oil from their strategic reserves will mainly do it to companies supplying their own markets.

If you go back in history to the big crude crisis of 73

The UK government took in BP and Shell bosses to get them to prioritise the UK and were horrified when told the companies could not do that due to obligations and would be sued if they did.

What actually is the next step in the process of waging war on Iran.

There comes a point where all the really worth while targets have been hit.

You are past your primary targets

And your secondary targets.

And are just watching for targets of opportunity.

So at some point the main bombing stops.

Then what.

Do we expect Iran to say ok we will not target ships in the strait,just because you are no longer bombing.

Seems a bit unlikely.

It’s totally in Irans interest to keep it going even if all they have left are drones.

We watch and wait

Bp share price button up top left corner next to bp news appears to show high and low.

Not sure how accurate it is

Some of the spikes showing on google do not appear later on the graph for the day.

They don’t even appear as a days high.

Have been seeing this on several oil shares since Middle East kicked off.

Think perhaps for those who plan to sell this rally at some point.

Preservation of profit should be the priority.

Don’t be caught later thinking wish I had sold ,instead of waiting for that extra 5 p.

Not telling anyone to sell that’s your decision.

But if Trump came online tomorrow and said we will bomb the hell out of Iran for 7 more days then stop.

Oil would definitely drop a bit,and you know what BP does then.

Personally still think there is more to go and a few weeks yet before Israel would stop,but with Trump in the equation anything is possible.

Don’t think it’s all that unusual for oil price to react more violently overnight in far east.

Then become a bit more rational when Europe opens.

It’s been playing catch up to all the weekends news.

And will settle where it wants.

News of release of strategic reserves was not unexpected.

News of countries in Middle East having to stop some production was not unexpected.

BP continues to make more cash than last month.

If you think oil price or BP sp will drop sell some

UK oil strategic reserves are primarily held as commercial stocks located at refineries, coastal storage terminals, and in underground storage facilities across the country. Major, dispersed storage locations include Hampshire (over 1,000 kilotonnes), Lincolnshire (over 1,000 kilotonnes), Eastern Scotland, Essex, and various other regional hubs, rather than in one single, central location.

Key details about UK oil storage:

Storage Locations: The highest concentrations of commercial stock are in Hampshire, Lincolnshire, Essex, Cheshire, and Eastern Scotland.

Types of Reserves: Reserves consist of mandatory stocks held by companies to meet IEA obligations, which can be located on UK soil or in other countries with bilateral agreements.

Infrastructure: Key infrastructure includes commercial refineries, storage tanks, and pipelines, with significant stocks located in regions with major refining capacity.

Background: While the UK is a producer, it maintains these stocks to ensure supply security

“ I have a feeling the gulf states will stop being so passive soon, their replys to hits seem to have a bit more edge to them”

Personally been expecting more from the gulf states.

It’s in their interests to help make Iran as poor as possible.

No money for Iran means much less state sponsored terrorism in their back yards.

Https://mybroadband.co.za/news/motoring/631759-bp-quietly-drops-big-project-in-south-africa.html

This board has been very active since the latest Middle East action.

There have been some brilliant post, and some brilliant posters.

And a very supportive board when it got a bit disruptive.

Nothing less than I would have expected from many of you.

It’s a nice board with a lot of different knowledge sets,and always helpful to those who ask.

There is enough variety of options to keep us thinking.

And the vast majority of difference of opinions are handled in a grown up manner.

It’s a pleasure to call most of you friends.

And just to add I had been trying to post a little less lately.

But all your posts lately were just so great they needed a reply ( see how it’s all your fault)