I watched an interview of someone who has decades of experience with oil from the Persian Gulf.

He started off by noting that oil tankers only move at 10-12 miles an hour. About the speed of a bicycle. Weeks-long journeys. And tankers that left the Gulf before the war will soon be done delivering the last loads. Once that happens, the world may (he hopes not) experience a stratospheric rise in oil prices do to shortages - whether the strait is open or not - because of extensive damage to oil terminals, storage facilities, and other infrastructure. His best estimate was it'll take months, and perhaps years to fix oil infrastructure before they're back to prewar production levels.

His prediction: the world may be in for months and months of global oil shortages with higher gas prices that could go even higher over time.

(Not a good idea to write while watching a stream of today's Masters round lol)

I wonder how much of that would be offset by the fairly significant oil glut there was before Lewzer started this fiasco?

#6 | Posted by REDIAL

That was then. Losing 20% of the world's oil supply is gonna hurt no matter what.

Minutes to destroy, months to remedy, right AU?

#8 | Posted by C0RI0LANUS

What a needless shame. I've feeling bad for the innocent dead, injured, and displaced Lebanese and Iranians.

From Feb. 1 to Feb. 27, the U.N.'s Trade and Development organization said the average number of vessels passing through the strait was 129 before beginning to slow as the war began on Feb. 28.

Only three of the ships that passed through since the ceasefire began were oil or chemical tankers, all passing on Thursday. All three are under U.S. sanctions for previously shipping Iranian oil. The rest were cargo ships.

While data was not available for one of the ship's loads, one of the tankers was carrying roughly 1 million barrels of oil, and the third vessel was not loaded.

On an average day before the war, the total shipments would be many times higher.