Member Info for Zanab

If oil hits 200, I'll eat my nose gold.

If you believe the media, the world has ended 99 times in the last 99 days, just saying to be pithy.

Yeah, totally agree that there are effects. On a humanitarian basis, food imports are obviously vital for the people there as well. It's a mess now, despite the good start.

Don't get me started on Trump, please. 😂

We are 12 days in with no strategic releases prior and noone has run out of oil.

How did that happen other than adequate existing supplies.

This goes on the assumption that all the oil has stopped. It hasn't, despite what the media says.

Though there was a mention that Iran's posturing on price is ridiculous.

Nearly half of the oil is moving against a backdrop of OVERSUPPLY. It's just sensationalism and panic that we saw at first that has now died down.

Prices will move down very quickly once this over. Long-term deflation is almost always the consequence of short-term disruption.

Basically a million barrels a day going through from Iran:

https://www.cnbc.com/2026/03/11/iran-ships-oil-china-strait-hormuz-closure-.html

Japan alone to release 80mln barrels.

Fair enough, Wookie. Ships are passing through though so some seem it worth it, I would guess.

It will be interesting to see what the US does on gas too.

They've got loads, and it's still relatively cheap.

The things is that she then went on to talk as though the number would be 180, which was conservative and perhaps strange

Yep, I heard it was a lot higher, 4-600, but that's quite some way north-- I think I spotted a polar bear ;)

Fleecy, there already was on oversupply and not all the oil is not getting through, plus the pipeline diversion.

It's closer to 12-15% in reality.

Also, do you have a reliable report for the figure she is mentioning? She seems to be using the figure for the last release in 2022.

I remember the COVID freight rates I'd get quoted, and a lot of it was price gauging. You'd shop around and get it significantly cheaper.

Different environment though

What's the price out of curiosity?

Yep, business re there to make money, after all.

Well, saw this in the FT this morning:

"Financial Times

Lloyd’s of London says it will still insure ‘basically anyone’ in the Gulf"

What other insurers are doing, I don't know.

Https://x.com/CENTCOM/status/2031489675760640370

Sorry, didn't mean to be so dismissive.

If one side lets the other pass, it will be reciprocated and vice versa. That's how I see it happening.

No, it couldn't. US would bomb the hell out of it.

A very stupid war all around now tbh.