BOOM or Bust? Oil Prices Tumble After Iran Missile Mishap!

Oops! They Missed!

Well well well what do we have here? Seems like someone's aim was a bit off! Iran launched a missile at a U.S. airbase in Qatar but guess what? *POOF!* No casualties! Did they run out of rockets? Or maybe they were just aiming for the pigeons? Either way oil prices took a nosedive faster than my sanity after a sugar rush. Down 6.13%! That's like a LOT of boom boom gone bust. 'Rules are made to be broken... Like buildings! Or people!' Heh heh...

From Boom to Bust? WTI and Brent Slide

So because nobody got blowed up (this time) WTI is down to $69.31 a barrel and Brent is sulking at $72.33. Guess the investors thought 'Oh no biggie let's all calm down and sell our oil futures!' Talk about a buzzkill! But hey at least it gives me more ammo money right? 'Here comes… more explosions!' I could always use more explosions...

Strait Up Trouble: Hormuz Edition

But hold your horses you gloomy Gus'! According to some 'expert' named Jorge there's still a chance things could go south REALLY fast. Like 'close the Strait of Hormuz' fast. That's where a ton of oil travels through every day! If that happens it's BOOM time for oil prices. Seriously somebody hide my rocket launcher...just in case. 'Questions questions that need answering… with explosions!'

Marco Rubio: The Strait is My Runway!

Marco Rubio is flapping his gums about how closing the Strait of Hormuz would be 'economic suicide' for Iran. He says China should tell them to chill out because they need that oil too! Honestly all this talking makes my head hurt. Can't we just skip to the part where things go BANG? 'Think of me when you’re bored… or maybe not.'

Iran Iraq and a Whole Lotta 'Oops'

Apparently things are also getting spicy in Iraq. And Saudi Arabia is watching Iran closely. All these countries are just itching for a good ol' explosion fest. And let's not forget about that time Saudi Arabia's oil thingies got blown up! Good times good times. Someone get me a map and a match stat! 'C’mon shoot something!'

The International Energy Agency is Watching

Oh and the International Energy Agency is 'monitoring the developments' and has a gazillion barrels of emergency oil ready. Sounds boring. Where's the fun in being prepared? I say let's just light it all up and see what happens! Who's with me?! Anyone? 'I'm crazy? Okay let me get my stuff!'