Oil Price Slides Below $100 as China Defies US Hormuz Blockade

[NickB79]

Source: Yahoo Finance

The sharp pullback came as China's Defense Minister Admiral Dong Jun signaled that Chinese vessels would continue transiting the Strait of Hormuz under existing agreements with Iran.

Admiral Dong Jun delivered a pointed message to the Trump administration and the US Navy. He confirmed that Chinese ships are actively moving through the Strait of Hormuz and that Beijing will honor its trade and energy agreements with Tehran.

Read more: https://finance.yahoo.com/markets/commodities/articles/oil-price-slides-below-100-190028120.html

---

Well, that definitely puts the US Navy between a rock and a hard place. Interdict a Chinese oil tanker, and the next one might come with a Chinese military escort.

[bucolic_frolic]

1. Blockhead's blockade is not being honored by the whole world?

He'll have to raise the stakes.

[doc03]

2. TACO won't stop a Chinese or Russian ship, they have

Nukes.

[NickB79]

3. Which means China can get all the oil they want

And neighboring Asian nations get none, or buy it from China.

A massive win for the Chinese government.

[dem4decades]

4. Give Trump credit for a win- win. China & Iran both won.

[flamingdem]

5. They stole the idea from Richard Haas

Saw him present the idea on CNN I think.

But as usual they didn't think it through!

[BootinUp]

7. Thinking is for sissies. You gotta go with your gut!

[modrepub]

6. TOFU

Trump Only F-cks Up.

I don't think Russia has any navy that would be a threat. And China doesn't need an escort; why provoke an attack by providing a military target. Crew the Chinese tanker with volunteers, send them to load oil and refuse to stop for any US naval ship that fires across the bow. Slow walk it, and tell Trump he has no authority to stop a Chinese flagged vessel. If it goes badly for the American's, it's just as effective to demonstrate to the world that the US can't be trusted to follow international law and respect other's sovereignty.

[BootinUp]

8. When it comes to oil no one is going to play it cool

This is a seriously bad situation.

[Metaphorical]

11. Drones

An oil tanker is a mighty big drone launch pad. The Chinese need not do anything other than buzz the US capital ships with them, but it is likely to make interdiction a particularly thorny issue.

[AZLD4Candidate]

17. Neither the US, China, or Russia really follow international law or respect soverignity

The US in the Strait.
Russia in Ukraine.
China in the South China Sea,

[modrepub]

18. True

But of the 3, which on is not currently engaged in an active shooting war?

As the Chinese proverb says, never interrupt your enemy when they are making a mistake. For China to directly challenge the US in an open military conflict that would possibly rally domestic support (remember how Bush II used the 9/11 attacks to rally his flailing administration) would be foolish in my opinion. Better to sit back, let Russia bleed in its conflict (buying Russian oil at a discount and supplying weapons) and the US to continue to alienate just about all of its former allies. China is patient, they really don't have to do anything (and they've been stockpiling oil for years).

[AZLD4Candidate]

19. Russia in Ukraine. China has been attacking Filipino sailors and ships for seven years

And let's not forget the saber-rattling with Taiwan.

So all three!

China is a loud paper tiger. Lived there 15 years.

[fujiyamasan]

9. lol this is hilarious

I love how the Chinese simply DGAF what he says at this point. We have shit to do move along you orange dufus!

More seriously speaking, he has become a global laughing stock. He needs to be removed ASAP. Ehat we’re dealing with is simply not tenable.

[everyonematters]

10. The Chinese called his bluff. There is no blockade.

This means higher prices on everything until we realign the whole economy.

[republianmushroom]

12. TACO Tuesday coming ?

[GAJMac]

13. Wait!

You mean there are reprecussions for being stupid??

[Shipwack]

15. Sometimes, but not often enough. nt

[DallasNE]

14. What Are Trump's Generals Telling Him

I presume they told him that the bluff will not work - that China will run the blockaid.Then what? Trump continues to operate like a 5th grader playing the game of Battleship—total embarrassment. Get him out of there before he screws up so badly that the response will be catastrophic.

[alwaysinasnit]

16. A game of Chicken anyone? Let's see who blinks first.