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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The straight has been closed for 8 day. That is 160 million barrels of oil deficit. The US is releasing 172 million over 4 months. 1.4 million barrels a day.

All in the group of countries are releasing 400 million barrels. If they have the capacity to release the same amount as the US, it’s 3.3 million barrels a day vs 20-21 million that normally flow through the straight.

Is it time to buy some oil futures? [/quote]

If they are releasing over a 120 day/4 month period, does that not imply that they think this issue will not be resolved anytime soon? Otherwise there would be an unnecessary oversupply towards the end of the period. [/quote]

No. They are clueless. There is a physical limit to how much can be released. If you say you will release 100 barrels and the plumping only allows one barrel a day to be released it will take 100 days to release the oil. The world is running a 16-17 million barrel a day deficit. The release is too little.

Word is Israel’s attack on Iranian oil infrastructure destroyed Iran’s oil production. This is 3.3-3.6 million barrels a day. That is the same or a little higher vs the pre war world oil surplus. The surplus was why oil was at $58 a barrel pre war. If this is true(Iranian oil infrastructure damaged) prices will remain high after the war is over for a year or two. Demand will exceed surplus.

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