And Reuters is playing along with stories like this.

Most of the Gulf suppliers are using alternative routes to get oil out. Iraq is shipping overland through Syria, and the Saudis, UAE and Qatar are using the Saudi cross-Arabian pipeline. Iran also has alternative ways out of the Gulf. It is more expensive, and they can't ship as much, but they are getting oil out.

Much of the "smart" money, plus Iran and the Trump cronies, appear to be really long the oil market, and are trying to talk the price up even tough demand destruction and alternative shipping routes are making the Strait much less important than it was 5 months ago.

My suspicion is that a lot of traders are going to lose their shirts if oil does not cross back over $100/barrel.

I read that Chinese firms have been more of less out of the oil market in recent months, drawing on PRC reserves. Those reserves are down significantly. When that 800 lb gorilla starts hoovering up available crude, oil prices will spike. It seems Wil E. Coyote has run off the cliff and reality will set in shortly.

Gas is back above $4 here today despite the futures market. Still a full 25% above prices last Feb. How's that for inflation.

2) Markets are being manipulated

3) China hasn't been importing and is using more electric

4) algos trade on trumps DEAL! headlines

5) Hopium and delusion, always present before trouble

Im probably missing some

1,2,3, 5, are all subject to reversal

No ceasefire. We are at war. Anyone in the Gulf is a target.

... but it did.

I look at the difference as my contribution to the D.N.C. They can hammer the Repukes with the price increase caused by Der Gropenfuhrer.

But, didn't the Felon-in-Chief pronounce the ceasefire "over" in front of the world??

"Over" goes a bit beyond "strain."

Or don't you take the word of the man who wears the title POTUS seriously?

To keep up with what is going on with Oil as well as Fuel (which are two different things) start with Mr. Global