A few bankrupted speculators will stabilize the oil market, faster than an end to the war.

Crude has dropped from $120 Sunday night, but it's still $25 higher than when the build up started. We're basically back to where we were last week.

No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

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Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

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With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

Ag87H2O said:

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No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

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Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

---

With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

---

Does anyone remember if it was this bad with the markets back when W invaded Iraq? And if it was, why don't the markets remember and do better?

Dan Scott said:

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Crude has dropped from $120 Sunday night, but it's still $25 higher than when the build up started. We're basically back to where we were last week.

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Yes....give it time.

It was the start of the bull market that ran into the financial meltdown

Quote:

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I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

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Exactly. Burgum doesn't want to create a panic adding to the volatility.

Dan Scott said:

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It was the start of the bull market that ran into the financial meltdown

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I would be more concerned with Democrat spending.

No Spin Ag said:

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Ag87H2O said:

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No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

---

Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

---

With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

---

Does anyone remember if it was this bad with the markets back when W invaded Iraq? And if it was, why don't the markets remember and do better?

---

W didn't have to deal with social media on the level it is today where anyone with an X account can post something with a flashing red light and call it breaking news and all of a sudden it goes viral and off we go, true or not, researched or speculation. It's the world we live in now.

Ag87H2O said:

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No Spin Ag said:

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Ag87H2O said:

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No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

---

Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

---

With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

---

Does anyone remember if it was this bad with the markets back when W invaded Iraq? And if it was, why don't the markets remember and do better?

---

W didn't have to deal with social media on the level it is today where anyone with an X account can post something with a flashing red light and call it breaking news and all of a sudden it goes viral and off we go, true or not, researched or speculation. It's the world we live in now.

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Further, the entire ME remembered well what Saddam had done in Kuwait when Bush 41 pushed him out of Kuwait. Set everything on fire, specifically to disrupt the oil markets. ME was prepared to keep that from happening..

Oil market is interesting. Largest tapping of oil reserves in history announced, depends on timeline and how quickly it gets out, but oil still trading up today on the news.

Ag87H2O said:

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No Spin Ag said:

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Ag87H2O said:

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No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

---

Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

---

With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

---

Does anyone remember if it was this bad with the markets back when W invaded Iraq? And if it was, why don't the markets remember and do better?

---

W didn't have to deal with social media on the level it is today where anyone with an X account can post something with a flashing red light and call it breaking news and all of a sudden it goes viral and off we go, true or not, researched or speculation. It's the world we live in now.

---

So social media is even more a pox on us than I thought it was already.

Good times.

No Spin Ag said:

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Ag87H2O said:

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No Spin Ag said:

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Dan Scott said:

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SPR release likely

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: THESE ARE THE KINDS OF MOMENTS THESE RESERVES ARE USED FOR

U.S. INTERIOR SECRETARY BURGUM ON OIL RESERVES: PERFECT TIME TO THINK ABOUT RELEASES

— *Walter Bloomberg (@DeItaone) March 11, 2026

---

Why would this be necessary if we've been told this increase is temporary because the war will be over in a few weeks to a few months and oil prices are going back down?

Or is this being looked at because of polling?

---

With the constant instant news cycle, the markets flip on almost anything - whether the information is right or wrong, temporary or not, it doesn't seem to matter. Loud drama queens with bad news and ulterior motives win the cycle.

I think he's reassuring the markets to try and calm the volatility. Reminding them we can cover a supply shortage with our reserves if we need to.

---

Does anyone remember if it was this bad with the markets back when W invaded Iraq? And if it was, why don't the markets remember and do better?

---

keep in mind 23 years ago we did not have TWITTER and posts by the second and "influencers"

we also didn't have AI and algos running Wall Street.

no one could move the oil market 23 years ago like they can today.

Dan Scott said:

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Oil market is interesting. Largest tapping of oil reserves in history announced, depends on timeline and how quickly it gets out, but oil still trading up today on the news.

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Tapping the reserves is likely viewed by the market as a very temporary solution to a bigger issue. I think they are reacting to a long term concern. I would.

Prices going back up. Looking like a scaled down version of Sunday night so far

TRUMP AUTHORIZED DEPARTMENT OF ENERGY TO RELEASE 172 MLN BARRELS FROM STRATEGIC PETROLEUM RESERVE, BEGINNING NEXT WEEK, DOE SAYS

— *Walter Bloomberg (@DeItaone) March 11, 2026

Dan Scott said:

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TRUMP AUTHORIZED DEPARTMENT OF ENERGY TO RELEASE 172 MLN BARRELS FROM STRATEGIC PETROLEUM RESERVE, BEGINNING NEXT WEEK, DOE SAYS

— *Walter Bloomberg (@DeItaone) March 11, 2026

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Bad Trump.

(Or Burgum has an uneasy feeling about supply shortages?)

Global supply shortage. Trumps doing it to keep the price from going too high.

not one tanker has been blown up and USA has guaranteed safety in strait but insurance companies in the UK say no.....lol

Multiple tankers were blown up today near Basra.

Multiple tankers have blown up. I think 5 in the last 24 hours

BREAKING: Oil tanker on fire after being attacked in the Persian Gulf - Reuters pic.twitter.com/reNGxMT2Bn

— BNO News Live (@BNODesk) March 11, 2026

Dan Scott said:

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Multiple tankers have blown up. I think 5 in the last 24 hours

BREAKING: Oil tanker on fire after being attacked in the Persian Gulf - Reuters pic.twitter.com/reNGxMT2Bn

— BNO News Live (@BNODesk) March 11, 2026

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those were cargo ships not oil tankers, but anyway Trump needs to get the Navy in there I hope he knows what he is doing here.

I'm sure this is fake news because we have been assured that Iran can do this because they have no Navy anymore.

Has anyone heard if it was mines or drones that hit these ships. My assumption is drones.

PS. 11mm bbls of oil has reportedly gotten through the Strait but it was all Iranian oil destined for China.

Dan Scott said:

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Global supply shortage. Trumps doing it to keep the price from going too high.

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Still stupid. I understand he needs to do something to keep oil markets stabilized. Saying we still had plenty of supplies wasn't enough, I guess. Freakin' chicken littles just freakin' out for not a lot of reason.

Our Navy really isn't doing anything. The told shipping industry that escorts are not possible now. I think we're waiting for French and British reinforcements to arrive

Oil surging 8% after hours now pushes $5 diesel as more likely and $4/gal gasoline gaining steam. 172 million barrel SPR release highlights the degree of the situation… finite releases still don’t replace Strait of Hormuz.

— Patrick De Haan (@GasBuddyGuy) March 11, 2026

Everyone just needs to take a chill pill. President Trump will not tolerate high fuel prices for long.

aggiehawg said:

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Dan Scott said:

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Global supply shortage. Trumps doing it to keep the price from going too high.

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Still stupid. I understand he needs to do something to keep oil markets stabilized. Saying we still had plenty of supplies wasn't enough, I guess. Freakin' chicken littles just freakin' out for not a lot of reason.

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Hawg,
the problem is 20% of global oil goes through the Strait normally. A little of that is getting out but no where near enough to keep the market well supplied (the world is oversupplied if the Strait is open). The producers that can't get through are shutting in capacity because there storage is full. One concern is restarting some of those fields will take time and some may be lost because of the shut in damaging the reservoir (it isn't like a water faucet) so even if the Strait reopens, production may be affected for months or a few years.

For now, the world is in good shape because China and other major consumers had excess inventories but the longer this goes on, the greater the risk of a major shortage like in the Arab Oil embargoes in the 70s. The Red Sea saw significant drop off in shipments for months by the Houthi attacks and that is a lot bigger waterway. I still am waiting to see how the Strait is kept open in an era with a lot of cheap, fairly accurate drones.

https://www.exponent.com/article/unexpected-shutdown-unexpected-damage#:~:text=Hazards%20Associated%20with%20Oil%20and,into%20distinct%20phases%20when%20stagnant.

Kansas Kid said:

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For now, the world is in good shape because China and other major consumers had excess inventories but the longer this goes on, the greater the risk of a major shortage like in the Arab Oil embargoes in the 70s. The Red Sea saw significant drop off in shipments for months by the Houthi attacks and that is a lot bigger waterway. I still am waiting to see how the Strait is kept open in an era with a lot of cheap, fairly accurate drones.

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The longer this goes on, the lower the risk becomes. Iran's military capability to restrict the Hormuz has been severely curtailed and will continue to be whittled down to near zero. As that becomes more apparent, the financial risk will subside and what little remains will also be subsidized by governments (insurance, naval escorts, etc.) such that the world economy will go on.

And as a practical matter, the US is well-supplied on oil from domestic sources. Price might go up for a while, but fundamental supply (long gas lines) isn't really threatened.

Not saying there won't be bumps in the road on the way, but I'm struggling to see any kind of long-term severe impact here from the Iranians attempts to blow up the region economically. I hope Trump holds strong and that we fundamentally destroy Iran's capability to threaten the world at large with economic catastrophe. It's time to call that card and deal with it straight up.

Just make diesel $.70/gallon again

I hope you are right but I still have concerns about their drone capability which is a lot harder to contain given the nature of what it takes to launch one. Even if it is reduced, it may still be enough to keep ship owners from going through the Strait.

I agree with you that their ability to mine the Strait will keep going down btw. The one that you didn't address as the risk is the longer the fields are shutdown in the ME, the greater the risk that production can't be restarted without new wells or work overs. The petroleum engineers on here should comment on the specific risk around the fields in question.

Trump loves central planning and price controls neither of which have ever failed

Kansas Kid said:

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I hope you are right but I still have concerns about their drone capability which is a lot harder to contain given the nature of what it takes to launch one. Even if it is reduced, it may still be enough to keep ship owners from going through the Strait.

I agree with you that their ability to mine the Strait will keep going down btw. The one that you didn't address as the risk is the longer the fields are shutdown in the ME, the greater the risk that production can't be restarted without new wells or work overs. The petroleum engineers on here should comment on the specific risk around the fields in question.

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There will certainly be some economic costs from this episode, but those can be absorbed across the value chain over time if supply reliability is restored. Kind of like the impact of a Cat 5 hurricane coming thru "oil field alley" in the Gulf. We lick our wounds and get past it.

You'll probably see more diversification away from Persian Gulf distribution so that producers aren't as tied to the Strait of Hormuz. Look at what Saudi Arabia is doing to divert oil thru their trans-country pipeline to the Red Sea, away from the imminent harm of Iranian drones. I would expect some of the other PG producers to explore similar options over time to protect their ability to access markets.

Pichael Thompson said:

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It's crazy seeing liberals so concerned w gas prices

Sleepy Joe had gas at $4 a gallon in Texas damn near his entire presidency


Also I thought they didn't gas now bc evs are so great...




Wild

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Thanks Bud!

Got my stack of Trump "I did that" stickers ready