Iran tells world to get ready for oil at $200 a barrel

ATH was <$148 and we're not even breaching COVID highs and we're down ~30% from three days ago.

If they successfully mine the Strait of Hormuz, this price target is reasonable. No insurance will cover vessels attempting to transit the strait if mined. Sal Mercogliano Of "What's Going on With Shipping?" covers this in his latest videos [1]. Bloomberg has been covering this in great detail also [2].

[1] https://www.youtube.com/@wgowshipping/videos

[2] https://www.bloomberg.com/industries/energy

andriy_koval · 2 days ago

> If they successfully mine the Strait of Hormuz

allies can just prohibit any ships to enter that area from Iranian shore or be attacked, not sure how Iran can plant those mines then.

general1465 · 2 days ago

It is dropping because countries released strategic oil reserves. That's temporary band aid.

KellyCriterion · 2 days ago

...and a very bad idea IMHO and will fire back soon?

That would be a foolish move for Iran, but they seem to be making a lot of foolish moves. Isn’t there a saying about never throwing away the moral high ground? As though they are trying to out-stupid Netanyahu’s man in the whitehouse.

tartoran · 2 days ago

Kindof stupid to attack them the way we did, no planning, rash, cruel (school children killed) etc. Now we're all going to have to suffer through the consequences regardless of whether the Iranian regime survives or not.

toldnotmywrath · 2 days ago

I think the reasoning is that if you don't make an adventure like this painful, the US will not think twice about returning again.

bitroughj · 10 hours ago

Only someone entirely ignorant of history would embrace that reasoning.

andriy_koval · 2 days ago

Its way more painful for rest of the world except Russia, and not US. They will make little pain on US, and make world and neighbors extremely angry on them.

watwut · 2 days ago

Yeah, I think they concluded that measured responses before just made Trump think escalating is safe.

And like, Trump always escalates if he thinks he can.

10xDev · 2 days ago

They are attempting MAD but without nukes. The problem is that while the US seems to have obliterated Iran, they have no endgame plan on actually accomplishing a regime change. They thought about arming Kurdish Iranians but wen't against the idea, now we seem to be in a perpetual state of "it is over / it is not over".

Iran does not seem obliterated to me at all. Also, Israel does not want regime change. They want failed state, either civil war or otherwise incapabke to govern. USA does not know what the fuck it wants.

specproc · 2 days ago

The USA wants whatever Bibi wants.

goodmythical · 2 days ago

ajewhere · 2 days ago

After what you did to them, I hope this will be the biggest problem.

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thomassmith65 · 2 days ago

Yesterday I posted the following link to an interview with David Woo (he's a finance guy). It's on this topic, and quite good:

David Woo: The Market Is Wrong About Iran, Oil and What Comes Next

https://youtube.com/watch?v=W2Z6UVv_wl4

mannyv · 2 days ago

Iran has perfected the "full of shit" playbook. The press repeat it because clickbait.

They already hit 3 ships. They don't need to mine the strait, just making it impassable due to insurance cost because you can end up with a hole in a tanker is enough.

cosmicgadget · 2 days ago

Meanwhile on the other side of the conflict we have "war is complete" and "Iran better remove their mines or we will bomb them".

It's shit all the way down.

Dead Comment

bitroughj · 2 days ago