Diesel, petrol, oil price watch

[Milltown Row2]

Iran has said the Strait is fully open with the ceasefire in Lebanon.

Expect the price of home heating oil, diesel, derv and petrol to drop in a matter of hours.

        

What did Iran get for this? Are the US going to help rebuild?

Who knows!

I wouldn't be so sure it's all over as the genocidal maniacs in Israel aren't known for honouring ceasefires..

They won't stop until they have all that land and a buffer zone around them as it was owed to them by god, whoever he was, he's not painting himself in glory since he's been about

[johnnycool]

Iran has said the Strait is fully open with the ceasefire in Lebanon.

Expect the price of home heating oil, diesel, derv and petrol to drop in a matter of hours.

        

What did Iran get for this? Are the US going to help rebuild?

Who knows!

I wouldn't be so sure it's all over as the genocidal maniacs in Israel aren't known for honouring ceasefires..

They won't stop until they have all that land and a buffer zone around them as it was owed to them by god, whoever he was, he's not painting himself in glory since he's been about

It's no Pulp Fiction parable (aka Ezekiel something or other) but Mark Twain had this sussed over 100 years ago.


The War Prayer

"O Lord our Father, our young patriots, idols of our hearts, go forth to battle – be Thou near them! With them – in spirit – we also go forth from the sweet peace of our beloved firesides to smite the foe.

"O Lord our God, help us to tear their soldiers to bloody shreds with our shells; help us to cover their smiling fields with the pale forms of their patriot dead; help us to drown the thunder of the guns with the shrieks of their wounded, writhing in pain; help us to lay waste their humble homes with a hurricane of fire; help us to wring the hearts of their unoffending widows with unavailing grief; help us to turn them out roofless with their little children to wander unfriended the wastes of their desolated land in rags and hunger and thirst, sports of the sun flames of summer and the icy winds of winter, broken in spirit, worn with travail, imploring Thee for the refuge of the grave and denied it –

"For our sakes who adore Thee, Lord, blast their hopes, blight their lives, protract their bitter pilgrimage, make heavy their steps, water their way with their tears, stain the white snow with the blood of their wounded feet!

"We ask it, in the spirit of love, of Him Who is the Source of Love, and Who is the ever-faithful refuge and friend of all that are sore beset and seek His aid with humble and contrite hearts. Amen."

[Mourne Red]

BREAKING: The US is considering a "$20 billion cash-for-uranium deal" with Iran as part of a new "3 page peace plan," per Axios.

Details include:

1. The US and Iran are negotiating over a 3-page plan to end the war

2. One element under discussion is that the US would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium

3. Some of Iran's highly enriched uranium would be shipped to a third country and some would be down-blended in Iran under international monitoring

4. Iran would be allowed to have nuclear research reactors for the production of medical isotopes, but would pledge that all of its nuclear facilities would be above ground

A second round of US-Iran talks is expected in Pakistan on Sunday.

[Wildweasel74]

Think they blew up alot more than 20 billion

[seafoid]

Think they blew up alot more than 20 billion

Hormuz  tolls could earn 96bn usd per year

[Armagh18]

BREAKING: The US is considering a "$20 billion cash-for-uranium deal" with Iran as part of a new "3 page peace plan," per Axios.

Details include:

1. The US and Iran are negotiating over a 3-page plan to end the war

2. One element under discussion is that the US would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium

3. Some of Iran's highly enriched uranium would be shipped to a third country and some would be down-blended in Iran under international monitoring

4. Iran would be allowed to have nuclear research reactors for the production of medical isotopes, but would pledge that all of its nuclear facilities would be above ground

A second round of US-Iran talks is expected in Pakistan on Sunday.

Sounds fairly complex for Maga standards god help whoever has to explain it to Donald!

[seafoid]

20% of world oil output flows through Hormuz

[seafoid]

https://www.ft.com/content/70b0ecee-7cc8-4257-be44-104460a84632?syn-25a6b1a6=1

Oil markets are facing more turbulence as tensions in the Middle East collide with a seasonal slowdown in demand, raising the prospect of further sharp and unpredictable swings in crude prices, the head of trading house Gunvor warned.  Gary Pedersen, who took over the world's fourth-largest independent oil trader following a management buyout in December, said markets could become even more volatile during April to June, when demand dips between winter and the summer driving season.

https://www.ft.com/content/80436d72-25e1-4a97-be09-3327c2d0af9a?syn-25a6b1a6=1

Donald Trump's war in Iran has unleashed a torrent of inflation in the US that economists warn will linger long after the conflict ends, squeezing Americans ahead of November's midterm elections. 


 The impact of the conflict has reverberated across the world's biggest economy since its outbreak in late February and experts say that the inflationary shock will take time to recede.

 "We were on a very good trajectory of inflation going down. Now there is somewhat [of a] reversal," Kristalina Georgieva, managing director of the IMF, told the FT. "What we see is that short-term inflation expectations have moved up here in the United States."

[seafoid]

https://www.ft.com/content/80436d72-25e1-4a97-be09-3327c2d0af9a?syn-25a6b1a6=1
By the end of the year, prices will be notably higher than they would have otherwise been," said Joseph Gagnon, senior fellow at the Peterson Institute for International Economics.

[Milltown Row2]

https://www.ft.com/content/80436d72-25e1-4a97-be09-3327c2d0af9a?syn-25a6b1a6=1
By the end of the year, prices will be notably higher than they would have otherwise been," said Joseph Gagnon, senior fellow at the Peterson Institute for International Economics.

Which year? It's been rising for years

[Jim Bob]

20% of world oil output flows through Hormuz

What about the other 80% ?

[seafoid]

20% of world oil output flows through Hormuz

What about the other 80% ?

Venezuela, Nigeria, Russia,US , Canada, Saudi , Norway, Algeria.

[seafoid]

https://www.ft.com/content/84566148-26de-4bb7-9d7c-d943c4c904ca?syn-25a6b1a6=1

Peering through the fog of peace, here is my best guess of what is likely to happen next. The good news is that both Iran and the US want a peace deal. The Iranians know how vulnerable they are to further aerial bombardment.

 The Americans understand the threat to the global economy from the continued closure of the strait. The bad news is that the two sides distrust each other and remain far apart on all the crucial issues

. These include nuclear enrichment, freedom of navigation, sanctions relief, the future of Lebanon and Israel, Iran's missile programme and its support for regional proxies such as Hizbollah.

 In normal circumstances, unravelling all these issues would take months — even years. The Iran nuclear deal (known as the JCPOA) that was signed in 2015 — and then ripped up by Trump in 2018 — took roughly three years to nail down


. However, the world economy cannot wait months for negotiations to come to fruition. The continued closure of the Strait of Hormuz will keep driving up energy prices.

 A shortage of jet fuel may make itself felt in weeks. Farmers around the world are aghast at the rising price of fertiliser — and that will soon feed through into food prices


. America's blockade of Iran will also increase the direct economic pressure on the Islamic republic.

The key questions now are: will rising economic pressure force the two sides to reach an agreement at diplomatic warp speed? Or will the difficulty of closing the gap between the Iranian and US positions lead to a breakdown in talks and an escalation of the conflict?

Either outcome is possible — but my money is on escalation. If that is right, then the Middle East and the world economy have not yet seen the worst of this crisis.

[johnnycool]

UAE is leaving OPEC, so is no longer constrained by quotas.

If they flood the market with cheaper oil, how will this impact the rest, Saudi, etc who were using the quotas to maintain a huge margin on their products.
They still need to move their oil through the strait of Hormuz

Trump may well be happy with this move as it will stimulate the markets to drop the price of crude, but who is the losers in this?

[Solo_run]

UAE is leaving OPEC, so is no longer constrained by quotas.

If they flood the market with cheaper oil, how will this impact the rest, Saudi, etc who were using the quotas to maintain a huge margin on their products.
They still need to move their oil through the strait of Hormuz

Trump may well be happy with this move as it will stimulate the markets to drop the price of crude, but who is the losers in this?

They use one of the pipelines that bypasses the strait