• Corkyskog@sh.itjust.works
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    16 hours ago

    We got like a weeks worth of extra oil in the system from the releases of the US and Euro strategic reserves. They released like 570M barrels combined, the Bendy of Hormuz accounts for like 20m barrel a day. The Bendy has been closed for 4 weeks, let’s say 20% is still getting through or going through alternative pipelines. That means that after 36 days of closure, those reserves are gone. Approximately one more week…

    Oil prices are going to be wild come April.