Now: 113.09 USD for Crude Oil WTI Futures.
edging towards 116 already
And the party is just getting started. I think the term is the cost is ‘slow to price in’, or there is an ‘adjustment lag’. The 8 trillion dollar question is will this pop the AI bubble
Yeah, I imagine a lot of traders assumed the US would actually follow through on providing insurance or escorting ships. Now they’re starting to realize that’s not going to happen, and there’s an understanding building of just how severe the impact on the countries dependent on Gulf exports is going to be. So, panic is growing rapidly.
I am not sure the US could protect vessels anyway at this point. Seems the US underestimated Iran’s capabilities
Exactly, whenever this ends, it’s going to be a massive humiliation for the US. And I expect the countries in the Gulf will be thinking about finding new patrons at this point.
