Anybody Buying Yet? Where’s the Bottom?

[brymoore]

But the market is underpricing oil...it will take months to ramp up again, and no past event can be compared due to the new threat of cheap/harder to stop drones.

What needs to change IMO is Iran's regime...with the new leader there said to be even more of a hard liner than his father that seems unlikely.

It is good to finally see the administration appear to recognize the impact on the economy of what they started.

Edit....and true to form, after Trump said yesterday the war is pretty much over, Hegseth just said this morning thst today will see the most intense day of strikes since the war began.

Iran's strategic oil island thrust into the spotlight as Middle East conflict escalates

Kharg Island serves as the centerpiece for Iran's oil industry, accounting for roughly 90% of the country’s crude exports.

www.cnbc.com

I learned about Iran’s Kharg island yesterday in one of my economic reports. Very interesting, Roughly 90% of Iran’s oil is exported through the island. The island has purposefully never touched by all activities against Iran for over 50 years to keep the oil flow available.

A cease fire should restart the oil flow once a tanker arrives at the island.

 

[406dn]

But the market is underpricing oil...it will take months to ramp up again, and no past event can be compared due to the new threat of cheap/harder to stop drones.

In a nut shell, that's what makes a free market. At any given time, a price is the balance were a buyer, finds a seller, or vice versa.

I'm willing to believe that presently, that's the price of oil. As recent events prove, the price can be very volatile, if there is any supply disruption.

 

[BigHornRam]

But the market is underpricing oil...it will take months to ramp up again, and no past event can be compared due to the new threat of cheap/harder to stop drones.

What needs to change IMO is Iran's regime...with the new leader there said to be even more of a hard liner than his father that seems unlikely.

It is good to finally see the administration appear to recognize the impact on the economy of what they started.

Edit....and true to form, after Trump said yesterday the war is pretty much over, Hegseth just said this morning thst today will see the most intense day of strikes since the war began.

WTI is overpriced in my opinion.