If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash

[GreatGazoo]

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

Yes the war isn't over but there is acceptance of the new normal and a kind of stalemate. That does not involve secrets or fantasies. Oil is priced where it is because professional traders and markets have priced in the impact of lower reserves, transport, sanctions, war, blockades, blockades of blockades, etc.

Australia has a plan to ration gasoline in a worst case scenario. Most countries do. Australia has large domestic supply of oil and LNG. And they have made a deal with China to buy jet fuel:
https://oilprice.com/Latest-Energy-News/World-News/Australia-Turns-to-China-for-Emergency-Jet-Fuel-Supplies.html

Sri Lanka and Myanmar may be rationing right now. Hard to tell since all the stories about rationing are from April or March but I would expect new stories if the situation was getting worse. It isn't.

The USA, KSA, Norway, Brazil, Russia and Canada are all selling more oil than usual right now. South Korea, like China, is selling jet fuel to other countries:
https://oilprice.com/Latest-Energy-News/World-News/South-Korea-Boosts-Jet-Fuel-Exports-to-Nine-Month-High.html