RE: WAR CHEST!!!15 Jun 2026 19:55
Quiggers52, the United States SPR today hit a level it last seen in 1984, and they are down to their last 50 million USUABLE barrels in SPR storage, which is running out fast. Also note, as far as I am aware there is still no flow through the Strait and the "deal" is dependent on Israel getting out of Lebanon, which Israel has said it will not do. Also, if Iran charges a crossing toll/service fees there is a good chance some of the GCC countries (notable Saudia Arabia) will refuse to pay and simply accept pumping less oil but receiving a higher price. Plus there is still weeks/months of minesweeping work to be done plus transit delays to consider before crude inventory depletion will be stopped. And also damage to facilities (upstream, midstream and downstream) which may prohibit previous production levels from being achieved.
If you want to believe because Trump tweeted everything was back to normal because he signed an MOU that the crisis is over then I guess that is your perogative, me , I think the bottom is in for oil now and this will play out with a delayed fuse, with the major impact still to be felt over the weeks and months to come.