General Discussion

GreatGazoo

(4,778 posts)

15. You ignored all the numbers to nitpick about semantics

Thu Jun 4, 2026, 10:20 AM

Thursday

and present no facts of your own.

Does China have 1 billion barrels in reserves? Yes
Is oil for December $80 Yes
Is Samuel wrong on this whole matter? Fortunately, yes

the number of freight trains transporting oil and liquefied petroleum gas (LPG) towards China has tripled nearly 50 days after Washington initiated a maritime blockade on April 13.

https://www.moneycontrol.com/world/iran-bypasses-us-blockade-with-rail-oil-exports-to-china-pakistan-freight-traffic-surges-article-13936437.html

Reality:

Crude Oil WTI (Jul '26) 92.42
Crude Oil WTI (Aug '26) 89.62
Crude Oil WTI (Sep '26) 86.72
Crude Oil WTI (Oct '26) 84.13
Crude Oil WTI (Nov '26) 81.97
Crude Oil WTI (Dec '26) 80.33

https://www.barchart.com/futures/quotes/CLZ26

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EX500rider

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Highlight:

If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash [View all] LymphocyteLover Thursday OP

The shit is on the wing orangecrush Thursday #1

The storage cushion is fudgy. bucolic_frolic Thursday #2

President Bone Spurs had a plan to get out of Vietnam. Emile Thursday #3

Daddy's not buying his way out of this one. dem4decades Thursday #4

From another perspective cachukis Thursday #5

there's definitely been some adaptation... but still a lot has been kept afloat by the reserves that are likely to run LymphocyteLover Thursday #27

No question. One of my worries is the takeover of cachukis Thursday #31

Absolutely. I totally agree on all those points. The stock market is particularly a mess IMO LymphocyteLover Thursday #32

Have invested mostly in real estate over the last cachukis Thursday #34

Why would " Diesel goes first"??? Melon Thursday #6

800,000 to 1.2 million SamuelTheThird Thursday #11

It's one country. Multiply across all oil producing Melon Thursday #41

Yes, but the key is how long the strait stays closed and how quickly the reserves run out LymphocyteLover Thursday #28

Diesel is often made from mideastern crude while gasoline is made from US crude JT45242 Thursday #30

Not In The US, Though ProfessorGAC Friday #45

Completely wrong. GreatGazoo Thursday #7

lol@your link SamuelTheThird Thursday #10

You ignored all the numbers to nitpick about semantics GreatGazoo Thursday #15

Are America's strategic reserves at a 40 year low right before the summer season? SamuelTheThird Thursday #19

Traders in Singapore, Beijing and Mumbai aren't duped by whatever Trump says GreatGazoo Thursday #36

This message was self-deleted by its author LymphocyteLover Thursday #29

Futures Are Not Delivery modrepub Thursday #39

"futures price contracts probably isn't a good predictor of actual future prices" -- meaning spot prices, yes GreatGazoo Thursday #42

Future Prices Are Not Necessarily modrepub Friday #43

No. For anyone holding a March contract at $63 their price in March was $63 GreatGazoo Friday #44

Appreciate your insight as I'm an admitted economic idiot. I can see where Exxon would be trying to "warn" Cheezoholic Thursday #21

Futures lock in a price right now GreatGazoo Thursday #22

Admittedly, Im no expert or even amateur...but SamuelTheThird Thursday #35

Since oil is sold as futures there is more profit when buyers panic about the future GreatGazoo Thursday #37

All hinging on a deal that isn't going to happen SamuelTheThird Thursday #38

Last week Exxon Mobil warned that oil inventories will fall to record low levels in coming weeks LymphocyteLover Thursday #33

Demand destruction WSHazel Thursday #8

"one of the key reasons that Trump started this conflict was to increase energy prices"-- agree LymphocyteLover Thursday #25

And it's all part of the plan... 2naSalit Thursday #9

Excellent summation. Kid Berwyn Thursday #12

I don't think the Strait of Hormuz never reopening is going to happen, but it will not reopen without a major shock ToxMarz Thursday #13

Agree. Thanks for the link. LymphocyteLover Thursday #24

Kick dalton99a Thursday #14

MAGA does the full collapse kairos12 Thursday #16

First the bastids want to grift off it, if they can. GreenWave Thursday #17

But I thouight it would be open in two weeks. AverageOldGuy Thursday #18

That's the point. Blue Full Moon Thursday #20

Unbelievably awful LymphocyteLover Thursday #23

It's happening now as we speak. marble falls Thursday #26

Remember that the UAE left OPEC a few weeks ago WSHazel Thursday #40