Iran Reportedly Closes Strait of Hormuz, the World's Most Vital Oil Export Route

[AZJonnie]

36. You said "impact" not "shortages" so that's what I was responding to, as prices would be included in "impact"

But I still think you're making an assumption that is not necessarily true. "US" oil companies are not "ours", unless the government acts to nationalize them (which I suppose could happen). Yes, the USA has the physical ability to keep the pumps on due to production on our own shores, but the greedy oil companies are currently free to sell to the higher bidders, in the WORLD as things currently stand.

IMHO, if the Straits were significantly choked off, I suspect we could have $150/barrel world oil in a matter of days or weeks, and gas prices in the $6-7 range in the USA even sooner, unless the government acted to stop US producers from selling to anyone but US markets/consumers.

I concede I'm not an expert and there could be valid counterarguments to what I've said, but I believe the above to be accurate, except as noted as a guess/opinion