America's emergency oil is closer to empty than anyone admits [View all]
As the Iran War intensifies in another round of escalation, it is imperative to understand how global energy flows are being affected in the United States and worldwide. As the Wall Street Journal effectively reported in a recent piece, the crude oil and refined fuels markets no longer tell the same story.
What that means is that, while there was a brief interlude of hope that things would correct after the Trump administration and the Islamic Republic of Iran signed the Memorandum of Understanding (MoU), the global energy system never recovered from the months of disruption caused by the closure of the Strait of Hormuz.
And just when there looked to be a glimmer of hope that we might avoid the worst-case scenario, the war restarted.
America’s Shrinking Energy Buffer
Unlike at the start of the war, when the United States had around 400 million barrels of oil in its Strategic Petroleum Reserve (SPR), it has burned through at least 100 million barrels.
https://www.msn.com/en-us/money/markets/there-may-be-a-hidden-reason-trump-keeps-pausing-the-iran-war-america-s-emergency-oil-is-closer-to-empty-than-anyone-admits/ar-AA27TdSd
Fucking idiot
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