Trump's Truth or Dare: Iran's Oil Flows While Prices Dive Faster Than a Viking Longship!

The Great Plunge: Oil Prices Do a Swan Dive

Hark news from across the seas! It seems the shiny liquid that fuels these… 'cars' and 'factories' is behaving like a drunken berserker after a long raid. President Trump a man who loves his gold as much as I love raiding England has declared that China can continue buying oil from Iran. Oil prices have fallen more steeply than I once fell from a tree after a night of drinking mead with Floki. This news is as shocking as finding Athelstan praying to his god while I am trying to find treasure. The global benchmark Brent whatever Odin that is dropped faster than a Christian converts after seeing my axe! U.S. crude oil followed suit proving that even the most stubborn of commodities can be brought to its knees.

Trump's Words: As Predictable as the Tides?

Trump in his infinite wisdom – or perhaps his infinite… boldness – took to his 'Truth Social' platform. He proclaimed that China can keep buying Iranian oil and then with a wink and a nod hoped they’d buy plenty from the U.S. as well. "It was my Great Honor to make this happen!" he exclaimed. Honor? Bah! It smells more like a clever trade than any true valor. He once threatened to bar any country buying Iranian oil from doing business with the U.S.. Such is the way of these… politicians. They speak of the gods and do the work of serpents.

The Analyst Speaks: A Seer's Warning?

According to the Kpler data China buys most of Iran's 1.7 million barrels per day of oil. Matt Smith some analyst claims that Trump has always seemed to avoid removing Iranian supply. Smith believes that Trump doesn't care about Iran's nuclear capabilities and is instead trying to lower oil prices. But of course they always have reasons for their deeds. Even the Seer has his moments of doubt doesn't he?

From Bombs to Barrels: A Shift in the Wind

Oil prices are now back to levels before Israel decided to turn Iran into a fiery pit on June 13th. Investors think that a major supply disruption in the Middle East is unlikely. Initially when the U.S. decided to join Israel in bombing three nuclear sites in Iran people thought that Tehran would try to choke off oil exports from the Persian Gulf. But they just launched a missile attack on a U.S. airbase in Qatar that had no causalities. Trump then announced the ceasefire shortly after.

Ceasefire Chaos: As Stable as a Drunken Boat

The ceasefire agreement nearly collapsed with Trump accusing both Iran and Israel of violating it. He wasn't happy with Israel or Iran but seemed especially displeased with Israel continuing its bombing. Seems like even these powerful leaders struggle to keep their warriors in check.

Strait of Hormuz: The World's Jugular?

Throughout this whole mess traders feared Israel would target Iran's 3.3 million barrels per day of crude oil. Or that the Islamic Republic would target the energy infrastructure in the Gulf nations like Iraq. They kept watch to see if Iran would close the Strait of Hormuz which connects the Persian Gulf and the Gulf of Oman. It's the key route for Iranian and other Middle Eastern shipments including Saudi Arabia the world's largest oil exporter the United Arab Emirates Iraq Kuwait and Bahrain. One wonders if these men ever consider the simple life of a farmer. But then again where's the glory in that?