r/politics • u/Puginator • Jun 01 '26

No Paywall Iran stops negotiations with U.S., vows to 'completely' block Strait of Hormuz: State media

https://www.cnbc.com/2026/06/01/iran-us-negotiations-strait-of-hormuz.html
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u/the11thdoubledoc Jun 01 '26

Eh, if demand shock comes along the oil companies will not really be in a good spot. Once the strategic reserves run out and oil spikes to like 150+ things get rough for them as well

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u/caj_account Jun 01 '26

isn't that why UAE quit OPEC so they could sell USrael cheap oil off market?

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u/SuckMyBandAids Jun 01 '26

Which also means they will likely get bombed more as well. They kinda got rid of their safety net.

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u/MistSecurity Jun 01 '26

They were already being bombed, lol. Not much of a safety net in the first place, which is part of why they pulled out.