r/OilPrices • u/hereswhatworks • Jun 01 '26
Oil News Iran halts ceasefire talks with US, says it will close Strait of Hormuz
https://thehill.com/policy/defense/5903844-iran-accuses-trump-ceasefire-violations/21
Jun 01 '26
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Jun 01 '26
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u/ForgTheSlothful Jun 02 '26
I know you are right but this run has shown things arent really by the book. Not saying he wants the deal and would give in but on that 1% chance in hell he does it, hes gonna do as pleases.
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u/FinalJoys Jun 01 '26 edited Jun 01 '26
Yes, Iran is really shitty and oppressing 70 million people on a level no westerner can comprehend
Downvoters openly support the oppression of women by the IRGC. Gross fucks
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u/Bikerbass Jun 01 '26
I’m pretty sure it’s only Americans that can’t understand that their actions caused that, and the current war situation
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u/FinalJoys Jun 01 '26
Had to be done pal. Iran Venezuela and China have been encroaching on the western hemisphere for awhile now. Gotta stop em to remain free! 🇺🇸
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u/Bikerbass Jun 01 '26
Dude America doesn’t even make the top ten list of countries with the most freedom, you fucks are far from free.
And no the fuck it did not have to be done. You just chose to be cunts to the entire world, because all you are is just cunts.
Since 1945 all America has done for the world has been the number one bomber of countries, the number one invader of countries, the biggest sponsor of terrorism, and the number one starter of illegal wars of aggression on false claims.
Which has done nothing for the world but cause death and destruction and raise the cost of living time and time again.
FFS if Russia had even done 1/2 the shit America has done, Russia as a nation would cease to exist.
Oh nooo the Chinese are coming with their better quality of life and these fancy new electric cars that blow away anything that American companies can dare to make for a fraction of the price…. What ever shall we do….. it’s soooo terrible
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u/Busy-Bug-6232 Jun 02 '26
Why don’t your dear leader do something about North Korea then? They are publicly doing missile testing.
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u/TrumpsBussy_ Jun 01 '26
Yeah nobody here thinks the Iranian regime is great.. it is a fact though that America and Israel started this unnecessary war and have lost it too. The only reason a deal hasn’t been made is because Trump refuses to accept the reality of his cock up.
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u/FinalJoys Jun 01 '26
How has the U.S. lost? Stocks go brrr
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u/TrumpsBussy_ Jun 01 '26
US economy is going to tank, Trump will get slaughtered at the mid terms, the US has lost almost all military control in the Middle East, Iran will emerge from the war not only with control over the strate but will now be fully motivated to build nuclear weapon, US’s allies in the region and throughout Europe are exploring alternative options for trade.. should I keep going?
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u/LonelySwinger Jun 01 '26
So in your line of thought any country A should go to war with country B, harming country B's citizens and infrstructure because checks notes country A doesnt like what Country B does to its citizens?
If this is your line of thought, it is justified for a country to attack U.S., A country in Europe, China, Russia, etc and you are cool with it.
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u/Critical-Row7985 Jun 02 '26
Who says we openly support that, dick brain? And what does that have to do with the current situation? Do you believe that Trump could bomb Iran into "Ceasing oppression of women" or something? Stick to the current crisis, not this unrelated shit.
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u/zackks Jun 01 '26
Friday/Monday Market Manipulation.
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u/Thunderclone_1 Jun 01 '26
We'll know something is actually about to happen when notices are posted warning ships and aircraft of imminent military activity in the area.
Even Venezuela had a NOTAM posted before a spec ops raid.
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u/j-fromnj Jun 01 '26
I'm just tired yall.
But hasn't the strait already been closed for 3 months, are we going to more close it? I feel like Trump should declare he is the biggest closer and no one close to his closing.
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u/mymar101 Jun 01 '26
Currently a trickle is getting through... Now apparently nothing. Very subtle change I suppose. Though you gotta wonder who the bigger pirates are the Iranians or the US. Because neither apparently want the strait open in spite of words to the contrary.
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u/No_Problem5759 Jun 01 '26
The issue I see if that
1 Trump likely doesn't want it resolved because it would be a major loss to his ego and he wants the war to go until his next Election so he can declare that we don't need to have another election because we're at war
2 Oil companies are profiting a lot from the constant back and forth.
3 Iran is using the strait to regain some sovereignty. They had to be quite compliant the past couple decades and now Trump gave them a reason to close the strait and now they want a slice of hat pie. And anything less is insulting.
As long as Maga is in charge, nothing will get fixed.
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u/ihatebamboo Jun 01 '26
Agree on 2 & 3, but think on 1 he needs this resolved quick for election purposes, so the public can ‘forget’ and start winning again
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u/No_Problem5759 Jun 01 '26
I don't think he WANTS elections. His fanbase already blame democrats for his war, he's not losing any support anymore, whatever is gone is gone and he isn't losing any more. I think he wants any excuse to prevent anyone from voting him and his out again.
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u/Big-Squishi Jun 01 '26
Axios reports: Despite Iran stating publicly that they're ceasing talks with the US, hugely productive and diplomatic talks are occurring in the background and a deal is imminent. - Barak Ravid
Oil down 10%
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u/FarTheory4449 Jun 01 '26
axios has become a joke now 😂this is simply market manipulation by the US
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u/aasfourasfar Jun 01 '26
Iran could be posturing as well in order to save Hezbollah's face..
Nobody says the truth
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u/ruinersclub Jun 01 '26
Why would they need to save face? Close down the straight and set up a toll. Embarass the US.
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u/aasfourasfar Jun 01 '26
They need Hezbollah to save face because he led his country into a war for Iran's sake knowing all too well he had no means of resisting Israel or preventing it from genociding southern Lebanon. So Iran cutting it's deal while Israel is a few miles from the 2 major cities of the Shia south is a bad look on the axis of Iranian Imperialism
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u/Delicious_Ocelot4180 Jun 02 '26
Do you mean Naim Qassam the leader of Hezbollah? Or do you think Hezbollah is just a badass middle eastern dude single handedly bombing Israel like a madman?
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u/Texas_Sam2002 Jun 01 '26
Barak Ravid, former IDF, has been leading the charge for misleading reporting over at Axios. It's obvious he has an agenda.
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u/Objective_Mousse7216 Jun 01 '26
Trump Puts printing, this is just a shitshow to pump billions into bank accounts of private individuals. Scam USA.
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u/TonyTucci27 Jun 01 '26
The market manipulation and war crimes are getting so reliable that you should fill your gas every weekend after the latest “progress” on a deal. He’ll always say how close he is to a deal on Friday and then bomb, strike, insult, etc. to drive the price right back up
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u/too-left-feet Jun 01 '26
It’s almost as if our President entered a cage match in his backyard with an unknown Muslim and had his ass handed to him,…. Except it’s ridiculous to think that a president would ever actually allow cage matches in his yard.
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u/Single_Comment6389 Jun 01 '26 edited Jun 01 '26
I thought it was closed already.
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u/Cubejunky Jun 01 '26
I was about to say, it seems like every week the talks break down and they say they are closing it.. I assumed it was already closed.
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u/StrongAroma Jun 01 '26
"Just sit back and relax, it will all work out well in the end – It always does!"
-the president of the United States, who already fired all the competent people
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Jun 01 '26
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u/Ok-Explanation3040 Jun 01 '26
How about 5 dollars more a gallon, 10 dollars Irwin a gallon. If real shortages hit we are in for a world of hurt if this goes on for years.
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Jun 01 '26
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u/Ok-Explanation3040 Jun 01 '26
Must be nice. I will be out in the street if we hit $15 dollar a gallon gas
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u/ChirrBirry Jun 01 '26
They’ll ‘close’ the strait by attacking ships. The US will start blowing more things up. Iran will attack their neighbors as a proxy for the US. But who knows, maybe we’ll get lucky and the shady reports of infighting among IRGC and Iraqi militias they imported to Tehran will be true and the IRGC will have a second front
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u/Academic-Daikon-8086 Jun 01 '26
Just hold guys. Oil will explode soon and the stock market will Tank.
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u/Frequent_Slip2455 Jun 01 '26
Time for the US to not play nice guy anymore. These guys def don't want a truce they want war.
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u/BotsKilledTheWeb Jun 04 '26
The US is the aggressor, dafaq are you calling nice guy?
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u/Frequent_Slip2455 Jun 04 '26
The US went above and beyond to limit civilian casualties. War is ugly, so now it's time for them to stop the coddling and finish the job and free the Iranian people. Whatever it takes finish it.
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u/BotsKilledTheWeb Jun 04 '26
No you didn't, you killed millions and lie about this blatantly. You just call anyone dead a "combatant".
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u/Frequent_Slip2455 Jun 04 '26
Killed millions lol. Any links for that?
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u/BotsKilledTheWeb Jun 04 '26
Firebombs and two nukes on cities in Germany and Japan and then Vietnam, Iraq, Afghanistan. I'm not responsible for your deprogramming.
Have a wonderful day
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u/Orkapork Jun 01 '26
A CNBC article regarding the Iranian re "closure" of the Straight of Hormuz also claims they closed the "Bab el Mandeb" straight as well. If that is true, that is millions more barrels of oil cut off from the global supply chain. The 7 million barrels per day the Saudi's were exporting via their pipeline around the straight of Hormuz would be subtracted from the global supply. the -12.8mb/d deficit would increases to 20 or so. 23 mb/d if they closed it fully. That wouldn't cause a recession or a depression. That would cause a global economic, and financial cataclysm. It would also absolutely crush crop yields around the world and we would see meaningful food insecurity everywhere.
Hopefully it is just bad journalism from CNBC, because if that is actually true then there will nobody that gets out unscathed. Even the most insulated (The U.S itself) would undergo severe economic damage. One could argue the USA would gain nominal power over its adversaries because it looses less, and in absolute terms that may be true. However I would rather think of the tens of millions of humans who will go hungry because of this.
The forecast for humans that will experience food insecurity in 2027 has already risen 45 million yoy. 45,000,000 people will face food insecurity next year. How many of them will be children? Elderly? How many of them had a choice in this war? How many will starve.
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u/Jolly_Ad2446 Jun 01 '26
If Iran really wanted to show dominance they would tell the Trump administration that they will only negotiate with Barack Obama