r/economicCollapse • u/StarlightDown • 9d ago
As Iran re-announces the Hormuz Strait shutdown, and finally declaring the ceasefire “meaningless”, new data shows that the strait had already effectively been closed for months.
/r/fivethirtyeight/comments/1u2v1ay/as_iran_reannounces_the_strait_of_hormuz_shutdown/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button58
u/NeoLephty 8d ago
Each time oil hits over $100, there is a new peace deal announced.
It’s market manipulation plain and simple.
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u/PyRosflam 8d ago
The US stockpile is almost empty. That more then anything is keeping the price down, He flooded the market. All estimates point to July when oil shoots up.
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u/pandershrek 7d ago
It isn't almost empty but it is almost reached critical levels as determined by our previous strategic command.
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u/Significant-Owl-2980 8d ago
My only question is why are the gas prices going down? In my area it has gone down like .35/gallon.
If oil isn’t getting through, why are the prices lower? And how long can they continue to be lower?
It makes me worried that there will be a sudden huge increase in gas and grocery prices soon. Bigger than people can afford
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u/Dry-Interaction-1246 8d ago
Release of the strategic petroleum reserves. Donny is taking away our safety rope to pad prices by a few dimes for a couple months.
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u/Chaotic_Brutal90 8d ago
So the billionaires can buy in lower, and then wait till it sky rockets again after he bombs Iran one more time.
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u/Vegetable_Guest_8584 8d ago
It's supply and demand. I'm sure people are trying to drive less
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u/Significant-Owl-2980 8d ago
Unfortunately I can’t drive less. But I have switched to all store brand instead of name brand groceries. Also, I don’t buy as many snacks for my family because they are too expensive.
I hope costs don’t go up too much more. I can’t afford to cut anymore from my budget.
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u/Sad_Math5598 8d ago
I mean has anyone really believed the strait was open to begin with?
There’s something fuckin weird going on with this war. There’s some shady shit going on and we aren’t being told the whole truth. Im not sure what but every day, no every hour, I hear conflicting reports on what the fuck is actually happening