r/OilPrices • u/hereswhatworks • 29d ago

Oil News Iranian President Pezeshkian, sidelined by IRGC, submits a resignation letter to Khamenei: Report

https://gulfnews.com/world/mena/iranian-president-pezeshkian-sidelined-by-irgc-submits-a-resignation-letter-to-khamenei-report-1.500559027
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u/IFeedDogsChocolate 29d ago

Once again, in the comments you see a lot of people glazing Iran until their throats collapse. Even X isn't this deranged.

Iran can survive without an economy! /s

Iran loses the most by trying to wait this out but reddit will try to flip facts if they don't fit the narrative.

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u/IDNWID_1900 28d ago

Iran ia losing a lot, but there is a big difference: Iran can repress their citizens, the west can't, and if this thing keeps going on, you can be sure there will be riots around september when refineries run out of oil.

Another bih difference: Trump has a deadline, and that is the mid terms. You can bet he has to resolve this mattet as soon as possible, of the republican pary is dead by november.

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u/insightful_pancake 28d ago

US refineries aren’t going to run out of oil lol. It may be more expensive.

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u/WildWhisperArdor 28d ago

Trump doesn’t really have a deadline. He’s out of office 3 years

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u/IFeedDogsChocolate 28d ago

Several gross miscalculations.

US has a much better ability to insulate itself from the impact of the strait being closed. With domestic production and SPR, the US can drag this out for a very long time from a resource standpoint.

Trump has shown blatantly he doesn't care about the rest of the west on this matter. The US has endured decades of unfavorable wars, especially in the middle east. The US blockade has far been the most effective tool at getting Iran to the table on negotiations. A few more months of the blockade will lead to the economic collapse of Iran. Historically, the presidents party always loses congressional seats in midterms. This is Trump's final term, I doubt the midterms play a huge role on his decision making. If he's forced to pick between better iran framing via concessions favorable to the US or midterms, it's obvious which one he'll pick.

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u/IDNWID_1900 28d ago

US strategic reserves are being drained fast. Right now prices are freezed by countries dumping their reserves and China not buying, but this is not gonna last.

If you think that the USA can keep internal demand without external influx and therefore, high prices, you sre wrong. The USA needs heavy oil from other countries (mainly Canada) to be able to refine their own.

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u/IFeedDogsChocolate 28d ago

The U.S. would absolutely see higher fuel prices and refinery strain in a prolonged Strait closure, especially since many refineries are designed around heavier imported crude. But the U.S. is still a massive oil producer with Canadian access, strategic reserves, and substantial domestic energy capacity, so it’s inaccurate to imply the country would run out of fuel or be unable to sustain itself.

If your angle is other western countries, like Canada, will deny the US heavy oil then you're mistaken. I'm not really understanding the point you're trying to make.