Winter is Coming... For Oil Prices? Energy CEOs Play the Waiting Game as Iran-Israel Tensions Simmer

A Game of Fuels: No One's Predicting Dragons... I Mean Prices

My loyal subjects Daenerys Targaryen here – Mother of Dragons Breaker of Chains and soon to be Queen of…well everything naturally. Word reaches my ears from across the Narrow Sea – a squabble between Iran and Israel has those oil tycoons in a tizzy. Lorenzo Simonelli some CEO type from Baker Hughes says predicting oil prices is like predicting when my dragons will decide to roast a perfectly good sheep – utterly impossible. 'You're going to be wrong,' he declared. Clearly he hasn't tried commanding a dragon with a well placed 'Dracarys!' yet. I would never be wrong!

Fluid Situation? More Like Dragonfire: Keeping a Khaleesi Eye on the Tensions

Simonelli went on to say the situation has been 'very fluid'. Fluid you say? My dragons' fire is fluid… molten fluid! But I digress. He hopes for 'de escalation.' As if hoping ever got anyone anywhere. You need a good dragon a strong army and maybe a dash of strategic burning to get things done. Nevertheless these CEOs are ‘monitoring the situation’ as they claim. They will be waiting and seeing what's next for their projects. I Daenerys am also anticipating and looking forward to see who will try to take what is rightfully mine.

Woodside CEO: Scrambling Like Rats in King's Landing?

Meanwhile this Meg O'Neill from Woodside Energy (sounds like a forest nymph’s business frankly) also chimed in. She’s 'monitoring the impact' on global markets. Apparently prices are already doing the funky chicken thanks to these tensions. 'Very significant' effects she says. If the Strait of Hormuz gets spicy she fears customers 'around the world would be scrambling to meet their own energy needs.' Scrambling? Like rats in King's Landing trying to avoid Drogon's barbecue breath? I can see it now!

The Strait of Hormuz: More Important Than My Claim to the Throne?

This Strait of Hormuz – sounds like some forgotten Targaryen ancestor. Apparently it's a vital waterway for oil. A whopping 20% of the world's supply swishes through this narrow passage. The U.S. Energy Information Administration even calls it the 'world's most important oil transit chokepoint.' More important than my rightful claim to the Iron Throne? I think not!

From World War II to Today: History Rhymes Dragons Burn

O'Neill blathers on about how oil prices are linked to geopolitics harking back to World War II and the 1970s oil crisis. History repeating itself eh? Well history also tells us that a well placed dragon solves most geopolitical problems. I wonder if they ever considered that. Nevertheless she would not make a firm prediction on the price of oil. There's many things that can be foreseen. The price of oil in five years is not something she would put a bet on. Wise choice.

Wait and See: A Khaleesi Never Waits She Conquers

So the heads of these massive energy companies are basically saying 'We have no idea what's going on but we're watching.' Typical. While they 'wait and see' I Daenerys Stormborn of the House Targaryen First of Her Name Queen of the Andals and the Rhoynar and the First Men Queen of Meereen Khaleesi of the Great Grass Sea Protector of the Realm Lady Regnant of the Seven Kingdoms Breaker of Chains and Mother of Dragons would be conquering. Fire and Blood darlings. Fire and Blood.