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Posted on 03/10/2026 6:18:51 PM PDT by Mariner
President Donald Trump announced Monday that the war in Iran would be over “very soon,” and that oil tankers would be given special U.S. Navy escorts to navigate between the Persian Gulf and global oceans. With gasoline prices and energy inflation already ticking up around the world, the speedy resumption of global petroleum trade has become a matter of urgency for the global economy, according to the world’s largest oil and gas company.
The widening conflict in the Middle East has all but immobilized the fossil fuel trade stemming from the region over the past 10 days. Attacks targeting vessels and energy production infrastructure have discouraged most exporters from venturing through the Strait of Hormuz, eliminating up to 20% of traded petroleum from global markets.
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As for the Saudi east-west pipeline, the Houthis will get a vote on any shipping through the southern Red Sea.
But traffic should be open through the Suez and into the Med.
“Iran is still shooting missiles and the oil problem is not solved because the Strait of Hormuz remains effectively closed.
As for the Saudi east-west pipeline, the Houthis will get a vote on any shipping through the southern Red Sea.
But traffic should be open through the Suez and into the Med.”
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What makes you think a Saudi pipeline would survive sabotage? These people are completely capable of sinking a tanker in the Suez and blocking it for weeks or months.
We only get about 11% of our earl from OPEC. Saudi and Iraq.
Fossil fuels?? Really?
I agree.
That’s why no oil is moving through the Gulf or the Red Sea either.
It would not likely move with a US Navy escort due to risk.
It’s stopped and the price of oil will rise steadily until it’s opened.
“We only get about 11% of our earl from OPEC. Saudi and Iraq.”
We’ll have good supply, but the price of oil will be the same in Houston, Brussels, Tokyo and Beijing.
Plus we ought to have a good idea by now about where the drones are coming from. Hit those sites or at least provide cover for the corridors from which they are coming and hit any Iranian radar tracking ships.
It's not glamorous and it won't protect every ship, but should do enough if we also add an indemnity.
IEA Proposes Largest Ever Oil Release From Strategic Reserves - Countries would decide Wednesday whether to release oil stocks in an attempt to tame crude prices
Why haven’t the Iranian intelligence ships been taken out of action?
We import a lot of food from Holland, two notable examples being celery root and red endive, both of which are grown in California. Despite half the cost of the Holland imports being air freight, the California product is priced the same as that of Holland.
They always raise the gas prices late spring every year because they know people want to travel and take vacations. Happens every year like clockwork. Watch the demoncrats blame Trump.
There are two matters to clear:
- Insurance
- Crews willing to run the gauntlet
Sitting on a tank of 2 million barrels of oil with somebody shooting at it is not my idea of a good time. Drone, torpedo, cruise missile, mine or anti-tank weapon...
And there’s the enormous environmental risk.
This has been the case since the October 7th attack by Hamas, no?
This, meaning that the only oil tankers allowed by Iran to swing through the Strait if Hormuz are shadow fleet tankers toting illicit cargo.
And, as you say, Gulf of Suez and Red Sea transit also being generally unavailable for legitimate oil tanker traffic.
So, this problem is not unique to the present period of time—the past ten days!
“This has been the case since the October 7th attack by Hamas, no?”
No.
Its unique to the last 10 days.
I wonder how good our contingency planning is — for the possibility that that this conflict does not end soon, and not we want, but goes much longer
“Why haven’t the Iranian intelligence ships been taken out of action?”
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The military sure blew up a bucket load of them today!
We are in a much better place to weather the price storm compared to the rest of the world.
F em. Keep bombing
“F em. Keep bombing”
Absolutely.
The answer is More Tonnage.
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