This is the Way...Down: Oil Prices Plunge Faster Than a Bounty Hunter After a Mark!

Another Day Another Bounty...of Oil?

Alright listen up. Word on the street – or should I say across the galaxy – is that oil prices took a nosedive faster than I can say 'I have spoken.' Seems like this whole Iran Israel dust up is messing with everyone’s credits. Global benchmark Brent dropped $2.14 landing at $69.34 a barrel. U.S. crude ain't far behind down $2.07 settling at $66.44. I've seen swoop races with less drama than this. This is not the way!.

Trump's Warning: 'I Have Spoken...To Israel!'

So the big boss man Trump he tells Israel to chill out with the bombing of Iran. Seems like he’s trying to play peacemaker but this ceasefire sounds shakier than a Jawa in a sandstorm. All this fighting jacked up oil prices by about 10% since mid June. Add in the U.S. getting involved and Iran firing back at some American base in Qatar? Chaos I tell you. Pure unadulterated chaos. Looks like the price of Beskar is going up too great!.

Ceasefire? More Like 'Cease...For Now!'

This ceasefire is supposed to ease things but questions are still hanging in the air like a captured bounty. What’s gonna happen with Iran's nuclear program? That’s the whole reason these two were at each other’s throats according to the bigwigs in Israel and the U.S. I don't think so. Never trust a deal made over a glass of blue milk. This is the way? I think not.

Strait of Hormuz: Don't Even Think About It!

Now the real kicker. Everyone's sweating about the Strait of Hormuz. If Iran closes that thing it’s like shutting off the tap to a whole lot of oil. We're talking about shipments from Iran Saudi Arabia the UAE Iraq Kuwait and Bahrain. Iran's parliament already gave the thumbs up to close it but it's up to their national security council to make the final call. I'd say "I have spoken" but I fear the consequences on the markets if that chokepoint is closed off.

Barclays' Bold Prediction: $100 Oil?!

Some fancy analysts over at Barclays are saying if that Strait closes oil prices will skyrocket past $100 a barrel faster than you can say 'This is the way.' They reckon there’s no easy way around that narrow passage and it'll mess up the whole market. But hey as they spoke Trump announced this wobbly ceasefire. Figures. Just when you think you've got things figured out the galaxy throws you a curveball the size of a thermal detonator. Good thing I have my beskar armor.

Hope on the Horizon? Emergency Stockpiles to the Rescue

The International Energy Agency says they've got 1.2 billion barrels of emergency oil stockpiled. That's enough to keep even a Mandalorian bounty hunter fueled up for a while. And those OPEC+ guys? They’ve been pumping out more oil just in case. So maybe just maybe we won’t all be trading credits for fuel anytime soon. But I wouldn’t bet my helmet on it. I have spoken.