Manufacturing and FDI have fled China. CCP covering up mass factory closures and unemployment.

China and Iran are winning. Please comply with the narrative.

https://www.cnbc.com/2026/05/28/oil-inventory-exxon-strait-hormuz-iran-war.html

This is fine. All is well.

FlyRod said:

---

https://www.cnbc.com/2026/05/28/oil-inventory-exxon-strait-hormuz-iran-war.html

This is fine. All is well.

---

From your link:

Quote:

---

Exxon Mobil warned Thursday that oil inventories will fall to record low levels in coming weeks, forcing prices to spike and curbing demand.

"We're approaching unheard of inventory levels," said Exxon Senior Vice President Neil Chapman at a conference hosted by Bernstein in New York.

"I mean really, really low levels," Chapman warned. "You can debate whether that's going to hit, those really low levels, in two weeks or three weeks. Once you get to that point, then you'll see price shoot up."

The price of physical Brent oil cargoes will spike to $150 to $160 per barrel when inventories hit all-time lows in coming weeks, the executive said. "When the price gets to a certain level, demand destruction brings it back into balance," he said.

---

Just what the US economy and world economy and the US farming and ranching communities need. And our senior citizen retirees.

"And our senior citizen retirees.".

IDK. Most retirees I know are doing fine. Younger folks that commute to work, chauffeur kids all over town, etc. are hit pretty hard by gas prices this high.

Rocky Rider said:

---

"And our senior citizen retirees.".

IDK. Most retirees I know are doing fine. Younger folks that commute to work, chauffeur kids all over town, etc. are hit pretty hard by gas prices this high.

---

Good points.

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

For the younger folks, especially the ones with multiple kids in multiple schools and activities, they're losing a lot in gas alone. My cousin has two kids in two different schools, and each kid has their own after-school activity. He told me he fills up once a week. For folks like him, he's spending about $120 more a month in gas.

$120 isn't anything for folks like us, but for him and his wife (they both work good jobs, but two kids and all) that is felt. Now imagine a single parent in the same situation with the same number of kids.

It adds up and is felt for more than we think, even those we wouldn't think would feel it.

flown-the-coop said:

---

China and Iran are winning. Please comply with the narrative.

---

JFC, China and Iran, and I'll even throw in every country in the world that hates us, will only be winning when we're no longer a planet, because regardless of who is POTUS, our systems are set up to make sure that our country leads the world regardless.

The "Swamp" sucks in so many ways, but it does serve a purpose in making sure it stays relevant and needed by making sure we're at the top of the shining hill called Earth.

No Spin Ag said:

---

Rocky Rider said:

---

"And our senior citizen retirees.".

IDK. Most retirees I know are doing fine. Younger folks that commute to work, chauffeur kids all over town, etc. are hit pretty hard by gas prices this high.

---

Good points.

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

For the younger folks, especially the ones with multiple kids in multiple schools and activities, they're losing a lot in gas alone. My cousin has two kids in two different schools, and each kid has their own after-school activity. He told me he fills up once a week. For folks like him, he's spending about $120 more a month in gas.

$120 isn't anything for folks like us, but for him and his wife (they both work good jobs, but two kids and all) that is felt. Now imagine a single parent in the same situation with the same number of kids.

It adds up and is felt for more than we think, even those we wouldn't think would feel it.

---

It was really bad when Biden was in office. Thank God those days are over.

techno-ag said:

---

No Spin Ag said:

---

Rocky Rider said:

---

"And our senior citizen retirees.".

IDK. Most retirees I know are doing fine. Younger folks that commute to work, chauffeur kids all over town, etc. are hit pretty hard by gas prices this high.

---

Good points.

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

For the younger folks, especially the ones with multiple kids in multiple schools and activities, they're losing a lot in gas alone. My cousin has two kids in two different schools, and each kid has their own after-school activity. He told me he fills up once a week. For folks like him, he's spending about $120 more a month in gas.

$120 isn't anything for folks like us, but for him and his wife (they both work good jobs, but two kids and all) that is felt. Now imagine a single parent in the same situation with the same number of kids.

It adds up and is felt for more than we think, even those we wouldn't think would feel it.

---

It was really bad when Biden was in office. Thank God those days are over.

---

It was really bad when Biden was in office. Now for it to get back to where it was before the war, because to many right now, it may not be as bad as before, but that doesn't mean they're happy about where things are right now.

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

No Spin Ag said:

---

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

---

No one is denying the Straight of Hormuz closing caused gas prices to spike. What we are pointing out is the economy is in a much better place overall than it was a couple years ago.

techno-ag said:

---

No Spin Ag said:

---

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

---

No one is denying the Straight of Hormuz closing caused gas prices to spike. What we are pointing out is the economy is in a much better place overall than it was a couple years ago.

---

Ah, gotcha.

flown-the-coop said:

---

China and Iran are winning. Please comply with the narrative.

---

Way to shift the narrative. It went from who can endure more pain to who is winning.

Let me be clear: China and Iran aren't winning, but our ability to apply pressure on China to get them to comply with what we want is not as strong as was predicted. That's all I'm saying.

ErnestEndeavor said:

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Manufacturing and FDI have fled China. CCP covering up mass factory closures and unemployment.

---

I'd be very happy if that is true, would love to see some data or sources.

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

Bidenflation came from Trump45flation. And, yes, grocery prices and gas are on Trump. He's President now. "The buck stops here." isn't just for when Dems are in office.

techno-ag said:

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No Spin Ag said:

---

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

---

No one is denying the Straight of Hormuz closing caused gas prices to spike. What we are pointing out is the economy is in a much better place overall than it was a couple years ago.

---

I'm not so sure most people see it that way.

2024 GDP was 2.8%. 2026 is forecasted to range from 2.3% to 2.8%, likely a bit less than 2024.

Average gas price in 2024 was about $3.30. This year it's about $3.86 so far.

As I showed earlier, 90-day delinquencies on credit cards, auto loans, and student loans are approaching multi-year highs.

If people feel like the economy is better now than two years ago, then Republicans sweeping Congress and adding to their majority should be a lock, right?

That should be the ultimate measure after all... voters reward politicians who produce a better economy.

I hope you're right. I'll be looking for it to show up in the midterm results.

techno-ag said:

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No Spin Ag said:

---

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

---

No one is denying the Straight of Hormuz closing caused gas prices to spike. What we are pointing out is the economy is in a much better place overall than it was a couple years ago.

---

Seriously?

The Administration and the rightwing's legacy-media tv and AM radio propaganda messaging universe and Maria Bartiromo's GOP guests all say so. Thus it must be true.

DeschutesAg said:

---

The Administration and the rightwing's legacy-media tv and AM radio propaganda messaging universe and Maria Bartiromo's GOP guests all say so. Thus it must be true.

---

The irony is lost on you, but you are doing the same thing

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

docb said:

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techno-ag said:

---

No Spin Ag said:

---

techno-ag said:

---

DeschutesAg said:

---

Quote:

---

Those of us who will have had a career their entire lives and whose lifestyles won't change one iota when we retire, yeah, we'll be fine no matter what happens with increased prices.

---

It works out that way for some retirees. For many others, it doesn't.

After a person retires, most have limited control over that scenario. Events like the 2007-08 crash followed by 12 years of near-zero interest rates, for example. Combined with their residential property taxes and electricity and water/sewer bills and Medicare Advantage costs and home / vehicle insurance costs tripling over a 15 year period.

I don't know what % of the 61M senior citizens in the USA are being significantly affected by Trump's higher gasoline and grocery prices, but it is probably at least 20% and might be as high as 50%.

---

Grocery and gas are not Trump. Those belong to Bidenflation. Temporary 50 cent spikes are.

---

How many years into Trump's administration will he be responsible for the economy, good and bad? Or does he just get the good until the bad things turn good?

Still, at least the right is able to say these recent hikes are because of his actions. That's something.

---

No one is denying the Straight of Hormuz closing caused gas prices to spike. What we are pointing out is the economy is in a much better place overall than it was a couple years ago.

---

Seriously?

---

Absolutely.

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

No Spin Ag said:

---

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

---

Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

Oil stocks have not moved much during the conflict. Whatever gains might be made by exporting from elsewhere aren't necessarily offsetting the losses they are experiencing from their operations in the middle east. The oil companies are not hugely profiting from this conflict despite what may be assumed.

And the Exxon CEO was talking about global stock shortages. Again, we have not yet seen demand destruction. We are consuming oil globally at a high rate, higher than the rate it's coming out of the ground and shipping. Alternative sources are not making up for the shortfall coming out of the Strait, so globally that difference is being made up in drawdowns from storage. Asia and Europe are going to feel a huge pinch once they're less able to obtain existing oil from storage.

tysker said:

---

No Spin Ag said:

---

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

---

Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

---

And the honesty is all I've wanted.

The "oh, but a gun shot was heard near a refinery in Africa" reason for prices jumping up never made sense to me.

For me, just be honest and say, "because we want to be even richer, cause as if you have a choice since we're all (oil companies) doing it."

And, at least now it's becoming painfully obvious their greed has been a very big part of Americans fuel pump pain.

No Spin Ag said:

---

tysker said:

---

No Spin Ag said:

---

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

---

Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

---

And the honesty is all I've wanted.

The "oh, but a gun shot was heard near a refinery in Africa" reason for prices jumping up never made sense to me.

For me, just be honest and say, "because we want to be even richer, cause as if you have a choice since we're all (oil companies) doing it."

And, at least now it's becoming painfully obvious their greed has been a very big part of Americans fuel pump pain.

---

Are you just now finding out the Saudis are greedy and running an oil cartel like we expect an oil cartel to be run? I'm calling BS on that....

The expected higher prices cited by XOM's CEO and hundreds of commodity analysts and traders are due to forthcoming supply constraints resulting from the SoH closure. Not 'greedy corporations'

The world is hitting tank‑bottom oil inventories by September.

Oil inventories work like blood in the human body: you can donate a bit, but below a certain level your blood pressure tanks and organs start failing. You don’t die because blood hits zero, you die because… pic.twitter.com/D6UXuQsuYj

— Lukas Ekwueme (@ekwufinance) June 4, 2026

https://www.eenews.net/articles/tank-bottom-oil-industry-warns-trump-admin-that-drained-inventories-threaten-to-spike-gas-prices/

Quote:

---

Many market analysts have expressed surprise that oil prices have not reached even higher levels because of the three-month shipping disruption. Early in the conflict, some forecasters predicted prices would go as high as $200 a barrel given that 20 percent of global oil flows through Hormuz. Iran's attacks on ships in Hormuz has slowed that flow to a trickle, although some crude is being diverted out of the region using pipelines.

"What's been remarkable is that prices have not moved higher so far, and a big reason for that is the inventory cushion around the world," said Jim Burkhard, vice president and global head of crude oil research at S&P Global Energy. "But that can't go on forever."

The stoppage has caused other impacts in the U.S. markets: Not only have global crude prices gone up as supply from the Middle East dries up, but countries are also increasingly buying American oil and fuel to make up for the loss.

Gasoline stocks are 5 percent lower than the five-year average, and diesel and jet fuel are 3 percent under that mark, according to EIA data. Overall, total U.S. commercial petroleum inventories including crude oil and finished fuel are down 52 million barrels from when the war began.

---

No Spin Ag said:

---

tysker said:

---

No Spin Ag said:

---

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

---

Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

---

And the honesty is all I've wanted.

The "oh, but a gun shot was heard near a refinery in Africa" reason for prices jumping up never made sense to me.

For me, just be honest and say, "because we want to be even richer, cause as if you have a choice since we're all (oil companies) doing it."

And, at least now it's becoming painfully obvious their greed has been a very big part of Americans fuel pump pain.

---

To be consistent, you can't be upset about market prices for oil moving up due to emotion and at the same time be happy about your stock portfolio increasing handsomely for similar reasons. That's intellectually hypocritical.

Emotions are part of the dynamic that sets market prices. Speculation and outright gambling are also part of it. Some people make a lot of money, and others get burned badly.

At some point, self-interest is very rational and drives a lot of good behaviors like work ethic, saving, etc. When pursued to the extreme of greed, it can also drive a lot of bad behaviors.

But let's be honest... we're ok with greed when it benefits us (higher stock values) but disparage it when someone else benefits (higher oil prices).

tysker said:

---

No Spin Ag said:

---

tysker said:

---

No Spin Ag said:

---

5Amp said:

---

Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

---

This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

---

Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

---

And the honesty is all I've wanted.

The "oh, but a gun shot was heard near a refinery in Africa" reason for prices jumping up never made sense to me.

For me, just be honest and say, "because we want to be even richer, cause as if you have a choice since we're all (oil companies) doing it."

And, at least now it's becoming painfully obvious their greed has been a very big part of Americans fuel pump pain.

---

Are you just now finding out the Saudis are greedy and running an oil cartel like we expect an oil cartel to be run? I'm calling BS on that....

The expected higher prices cited by XOM's CEO and hundreds of commodity analysts and traders are due to forthcoming supply constraints resulting from the SoH closure. Not 'greedy corporations'

The world is hitting tank‑bottom oil inventories by September.

Oil inventories work like blood in the human body: you can donate a bit, but below a certain level your blood pressure tanks and organs start failing. You don’t die because blood hits zero, you die because… pic.twitter.com/D6UXuQsuYj

— Lukas Ekwueme (@ekwufinance) June 4, 2026

https://www.eenews.net/articles/tank-bottom-oil-industry-warns-trump-admin-that-drained-inventories-threaten-to-spike-gas-prices/

Quote:

---

Many market analysts have expressed surprise that oil prices have not reached even higher levels because of the three-month shipping disruption. Early in the conflict, some forecasters predicted prices would go as high as $200 a barrel given that 20 percent of global oil flows through Hormuz. Iran's attacks on ships in Hormuz has slowed that flow to a trickle, although some crude is being diverted out of the region using pipelines.

"What's been remarkable is that prices have not moved higher so far, and a big reason for that is the inventory cushion around the world," said Jim Burkhard, vice president and global head of crude oil research at S&P Global Energy. "But that can't go on forever."

The stoppage has caused other impacts in the U.S. markets: Not only have global crude prices gone up as supply from the Middle East dries up, but countries are also increasingly buying American oil and fuel to make up for the loss.

Gasoline stocks are 5 percent lower than the five-year average, and diesel and jet fuel are 3 percent under that mark, according to EIA data. Overall, total U.S. commercial petroleum inventories including crude oil and finished fuel are down 52 million barrels from when the war began.

---

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So then it's not oil companies not called Saudi Arabia that intentionally cause higher gas prices to pad their wallets. That's refreshing, cause the Saudis I expect, and the execs at Exxon, and others I've suspected, but if it's just the Saudis, and the execs are sounding the alarm, and they typically don't, then i guess it's time to start worrying they'll be right and prices will jump up?

This is way more oil talk than I was expecting, and without coffee.

tysker said:

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No Spin Ag said:

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tysker said:

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No Spin Ag said:

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5Amp said:

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Exxon declaring oil will reach $150/bbl in 2-3 weeks just screams "come buy our stocks."

Oil prices continues to trend down even as the SOH has been closed for weeks.

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This really makes it seem like people who have always said that prices at the pump were only high because oil company execs wanted them like that for their profits have either been right all along, or, at the very least, not that far off.

In either case, if gas prices can actually come down, even when there's a "CRISIS IN THE MIDDLE EAST!!!" (Standard reason always given when prices jump up if it so much as rains in the ME), then at least now we know prices really don't have to be so high.

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Oil is a global commodity and some of the largest players in the marketplace are permitted to act like a cartel. So ya, the execs in the cartels want prices to remain at levels that yield higher profits.

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And the honesty is all I've wanted.

The "oh, but a gun shot was heard near a refinery in Africa" reason for prices jumping up never made sense to me.

For me, just be honest and say, "because we want to be even richer, cause as if you have a choice since we're all (oil companies) doing it."

And, at least now it's becoming painfully obvious their greed has been a very big part of Americans fuel pump pain.

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Are you just now finding out the Saudis are greedy and running an oil cartel like we expect an oil cartel to be run? I'm calling BS on that....

The expected higher prices cited by XOM's CEO and hundreds of commodity analysts and traders are due to forthcoming supply constraints resulting from the SoH closure. Not 'greedy corporations'

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Many market analysts have expressed surprise that oil prices have not reached even higher levels because of the three-month shipping disruption. Early in the conflict, some forecasters predicted prices would go as high as $200 a barrel given that 20 percent of global oil flows through Hormuz. Iran's attacks on ships in Hormuz has slowed that flow to a trickle, although some crude is being diverted out of the region using pipelines.

"What's been remarkable is that prices have not moved higher so far, and a big reason for that is the inventory cushion around the world," said Jim Burkhard, vice president and global head of crude oil research at S&P Global Energy. "But that can't go on forever."

The stoppage has caused other impacts in the U.S. markets: Not only have global crude prices gone up as supply from the Middle East dries up, but countries are also increasingly buying American oil and fuel to make up for the loss.

Gasoline stocks are 5 percent lower than the five-year average, and diesel and jet fuel are 3 percent under that mark, according to EIA data. Overall, total U.S. commercial petroleum inventories including crude oil and finished fuel are down 52 million barrels from when the war began.

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BREAKING: Venezuela’s crude oil exports have surged +61% YoY, to 1.25 million barrels per day, the highest in 7 years.

The surge was led by rising shipments to the US at ~558,000 barrels per day, India at ~427,000 barrels per day, and Europe at ~169,000 barrels per day.

In… pic.twitter.com/uuC5zzEY7h

— The Kobeissi Letter (@KobeissiLetter) June 4, 2026

Username does NOT check out.

WOW AMAZING 1.25 MILLION BARRELS A DAY???!!! THAT CHANGES EVERYTHING!!!

tysker said:

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WOW AMAZING 1.25 MILLION BARRELS A DAY???!!! THAT CHANGES EVERYTHING!!!

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Its increasing, which is good.

tysker said:

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WOW AMAZING 1.25 MILLION BARRELS A DAY???!!! THAT CHANGES EVERYTHING!!!

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It's a step in the right direction with a country like Venezuela which has a ton of oil.