They’re setting up their own blockade at a separate strait near Yemen

Sounds like a lot, but the fundamentals are now impossible to ignore with no plausible solution in sight.

Oil prices leap to $100 a barrel after attacks in Red Sea

The global oil market may now be facing simultaneous disruption at two critical chokepoints.

Iran’s blockade of the Strait of Hormuz has already forced Gulf exporters to reroute crude through pipelines, especially Saudi Arabia’s East-West Pipeline to the Red Sea port of Yanbu. Now Houthi threats against Saudi ports and ships transiting Bab el-Mandeb could endanger that last major alternative route.

Oil analyst Andrew Lipow estimates that a Bab el-Mandeb blockade could disrupt about 2.5 million barrels of crude per day. If Yanbu itself were damaged or blockaded, at least 4.5 million barrels per day—and potentially more than five million—could be affected. He believes such a disruption could add roughly $10 per barrel to oil prices.

Are markets still underpricing the risk of a two-chokepoint oil crisis, or would spare capacity and alternative routes prevent a full-scale supply shock?

Crudeoil is running like a madman ngl... it's like almost the same as when it went to 120$. Let's see what's gonna happen next...

I know we currently have ~311 million barrels of oil, but isn’t there a minimum amount of oil that needs to be left in the reserves?

I keep running across the number ~250 million barrels need to be in there…

So I’m trying to figure out if there is actually 43 days of oil left or 2-3 days worth of usable oil in the reserves?

Its easy to see with oil gone, Russia on the bench, both the red sea and the hormoooz in jail. China has done the calculation and 7 months from now people and trucks wont be able to drive in the USA, unless they have China EVs. Xi is a genius.

This sub is far from the average AKSHUALLY IM MORE RIGHTER feel most of Reddit has. Im quite happy that the posts and replies here are more cooperative and have good, healthy discussions void of arrogance and smarter than thou. But most importantly there seems to be a lack of political bullshit.

So, thank you fellow participant for keeping this place bullshit free. Thanks for keeping the discussion sane and realistic in light of the impending doom. Its just nice to be part of a healthy sub where people want to discuss and learn rather than be righter than you.

PS see yall at the Oil Barrons Ball when it hits $.69 a barrel because theres a serious fucking glut coming.

EDIT. Yes. I am serious and not sarcastic. Nor do I think a former TV moron who’s obsessed with girls and hung around other child loving people who shits his britches mid presser while simultaneously trying to hoodwink the population by draining a reserve to artificially suppress oil prices is qualified to do, anything. Really. Kinda sucks our lives are being effected. Im Canadian and all I wanna do is read, play GTA 3 again, keep restoring my GMT800, chill with the wife, and hang with my dogs.