MacroEnergyIran Just Fired Ballistic Missiles at a US Warship Twice — Then Hit Jordan With Real Missiles, Not Threats
Iran Just Fired Ballistic Missiles at a US Warship Twice — Then Hit Jordan With Real Missiles, Not Threats
CENTCOM’s tanker-for-warship exchange rate just repriced again: after the Islamic Revolutionary Guard Corps targeted an American Navy warship with ballistic missiles twice over a 48-hour period, the US carried out coordinated strikes against five vessels that CENTCOM described as belonging to Iran’s state-linked maritime fleet, up from three after the last warship attempt. Iran didn’t just threaten Jordan this time — its Guard targeted the US-operated Al-Azraq airbase in Jordan using liquid- and solid-fuel ballistic missiles, while separately claiming ballistic missile attacks on the US Navy DDG-119 and DDG-53 destroyers. The exchange is escalating in both scale and geography.
#Iran #StraitOfHormuz #CrudeSupply #OilGeopolitics #Jordan
The US Just Ran Its Emergency Oil Reserve Down to 1982 Levels — Right as Brent Clears $100
Washington’s insurance policy against exactly this scenario — Brent above $100 mid-war — has been running dry all year. Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 1.2 million barrels to 285.4 million barrels last week, the lowest level since November 1982. That’s only about 41% of the reserve’s authorized storage capacity of approximately 714 million barrels. If Hormuz flows tighten further, the next emergency release draws from a reserve with far less cushion than it had when this conflict started.
#SPR #CrudeSupply #OilPrices #GasolinePrices #USPolicy
China’s Teapot Refiners Are About to Cut Runs — The Iran-Venezuela Squeeze Finally Caught Up
China’s independent refiners built their cost edge on discounted Iranian and Venezuelan barrels — and both taps are tightening together. China’s private oil refiners may cut processing runs in the coming weeks as traditional sources of crude supply become scarcer and costs surge, potentially hurting demand in the biggest importer, because shipments from both Iran and Venezuela are under pressure from a US naval blockade against Tehran’s ports and redirection of South American flows following Washington’s intervention. Throttled teapot runs would pull the one swing supply of cheap diesel that’s been easing global product markets — right as crack spreads sit at records.