Oil up by 3% after Iran claims it fires US warship; US denies report

[free-bit.co.in]

Honestly, I stopped giving a shit about whatever both sides state regarding the war since my primary concern right now is trying to get used to the current broken economy where flight prices etc soared duplicating COVID era problems sadly.

The morons who voted for that orange clown are also struggling to adjust to this new landscape which serves them right. I don't see this unnecessary war ending anytime soon.

I gave some fvcks about it for real honestly. I have been reading and listening from both sides what they say and what the other person is saying against what's said.
My major fear should be the shortage of fertilizer for farmers around the world.

Like they really voted for that orange clown for three good times. The war could end and they could come to an agreement but the isreali government and regime are stubborn to the core and will not want that.

But the truth is, even if we care about this, we can not really change or improve the situation. So, I think what we should focus on more and need to do right now is find ways to adapt to the current situation.

As long as oil prices remain high or keep rising, everything will become a concern, not just the fertilizer shortage.

@Haunebu, what makes you so sure that this mess would not have happened if Trump had not been elected?

[summonerrk]

Oil prices collapsed. Yesterday's announcements caused bond yields and the dollar to fall, and we also saw demand for stocks and gold, and Bitcoin also rose a bit, but it still hasn't broken through 80,000.
Well, maybe the Fed chairman's change tomorrow really did have a role. Markets moved yesterday as they should have. Well, I mean all these undercurrents—the SNP500 price, the inverted oil price, and bond yields. As oil prices plummeted, yields also fell.
Information is leaking to the press that Israel wants to continue military action. And Trump is insisting on peace talks. This also had a certain impact.

[fuguebtc]

Oil prices collapsed. Yesterday's announcements caused bond yields and the dollar to fall, and we also saw demand for stocks and gold, and Bitcoin also rose a bit, but it still hasn't broken through 80,000.
Well, maybe the Fed chairman's change tomorrow really did have a role. Markets moved yesterday as they should have. Well, I mean all these undercurrents—the SNP500 price, the inverted oil price, and bond yields. As oil prices plummeted, yields also fell.
Information is leaking to the press that Israel wants to continue military action. And Trump is insisting on peace talks. This also had a certain impact.

According to news report, Trump will preside over the swearing in ceremony for the chairmanship of the Fed at the White House tomorrow. However, I hardly see anyone paying attention to this, and the news has already been priced in. Because Kevin Warsh has already been confirmed as the Fed Chair, it is no longer a surprise and there is nothing left to wait for.

What many people believe is driving oil prices down and financial market up today is Trump statement that negotiations with Iran are in the final stage, and that the strait of Hormuz is being eased.


https://www.theguardian.com/business/2026/may/20/trump-iran-war-oil-prices

[YOSHIE]

     "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

I see that the world today is no longer excited about the US and Iran war, I see as if the world currently no longer cares about the war as well as the Strait of Hormuz, many countries are currently transferring oil contracts to other countries such as Russia, Canada, Brazil and the United States.

Currently many tengker ships have left the Strait of Hormuz and continued on to the countries I mentioned above, historians say that the Strait of Hormuz tragedy did not happen just now, previously the Strait of Hormuz was targeted by other countries. which ends up being in vain, other countries are currently thinking about the economic fate of their countries, just let them do what they do.

[Fortify]

   
     Fars reported on Monday, 4th May 2026 citing local sources that ​it had struck a U.S. warship intending to pass through the Strait and forced it to turn ​back. U.S. Central Command denied that any U.S. Navy ships had been struck on Monday.
  
      "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

        President Donald Trump said the U.S. would begin efforts to assist ships stranded in the Strait of Hormuz, but prices stayed above $100 a barrel, ‌with no ⁠peace deal in sight and shipping through the strategic waterway still constrained.

Looks like the latest news is that Oman and Iran are in discussions to stick a joint toll over the Strait of Hormuz, yet somehow the rest of the world are meant to act like America has had any kind of success under Trumps terrible war of distraction. At least a toll would keep the oil flowing, but right now this looks like a complete disaster that was provoked by Israel who took every opportunity to bomb Iran while big brother was around and even big brother had to push back to get them under control again. There has been absolutely no change to the regime, which will always find replacements, who have even more incentive to hate on America in future.

[Minor Miner]

     "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

I see that the world today is no longer excited about the US and Iran war, I see as if the world currently no longer cares about the war as well as the Strait of Hormuz, many countries are currently transferring oil contracts to other countries such as Russia, Canada, Brazil and the United States.

Currently many tengker ships have left the Strait of Hormuz and continued on to the countries I mentioned above, historians say that the Strait of Hormuz tragedy did not happen just now, previously the Strait of Hormuz was targeted by other countries. which ends up being in vain, other countries are currently thinking about the economic fate of their countries, just let them do what they do.

It is not that the world is no longer interested in the conflict in the Middle East or the situation in the Strait of Hormuz, but rather that people are looking for ways to adapt instead of waiting in vain.
While waiting for Iran and the United States to resolve their issues, the world is seeking temporary alternative sources of oil.

Currently, world crude oil prices remain above $100 a barrel, 40% higher than before the war. All countries are paying significantly higher energy costs, regardless of which supplier they purchase from. It would be a mistake to assume that the world is no longer interested in the situation in the Strait of Hormuz.

[justdimin]

     "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

I see that the world today is no longer excited about the US and Iran war, I see as if the world currently no longer cares about the war as well as the Strait of Hormuz, many countries are currently transferring oil contracts to other countries such as Russia, Canada, Brazil and the United States.

Currently many tengker ships have left the Strait of Hormuz and continued on to the countries I mentioned above, historians say that the Strait of Hormuz tragedy did not happen just now, previously the Strait of Hormuz was targeted by other countries. which ends up being in vain, other countries are currently thinking about the economic fate of their countries, just let them do what they do.

You would think that, because we have less news regards to the war, but the economics world is still keeping a very close eye on it. How can we know that? Look at the price of oil and you can see that. Today it is still around 100 dollars, and that means that nothing has changed for it, it was always around that price and still around there.

If the world stopped caring about it and went back to normal then we would have seen it go lower, but we have not, because strait is still closed, and that means the oil price stays high, and we are going to run out soon enough if this keeps up. So we are going to see the war becoming a talk of the past, when oil is still flowing like it used to and price starts to drop.

[dezoel]

I do not know where this "oil price drops" news comes from, but whatever Trump said, did not made any change in the price and Oil is still around 100 dollars.

That is not good even for oil companies, because while they are making money for sure, they are not really profiting like they used to because when the price is higher, they make more profit by selling it but they start to sell it less because there are less buyers. And all of the oil companies are hoping for this to end soon.

[red4slash]

If the world stopped caring about it and went back to normal then we would have seen it go lower, but we have not, because strait is still closed, and that means the oil price stays high, and we are going to run out soon enough if this keeps up. So we are going to see the war becoming a talk of the past, when oil is still flowing like it used to and price starts to drop.

It's also not going to be easy because when it goes up it takes a long time to come down and that's a definite situation in this case because the rise and fall of oil happens because of the geopolitical issues that exist now so even if everyone in other countries don't care about it in the end as long as there is conflict the price of oil will never go back to the original price and will remain at the same price as we see today.

There will be other possibilities when negotiations to stop the war may see a drop in oil prices but it wont be immediate and it will be a long process and I doubt it will even return to the price it was at before the war started.  So in this case, ignorance will actually make us lag behind the existing information because we do not see and follow it, especially in the end the conflict that is getting bigger and ignored by other countries may trigger more serious things that cannot be borne by every country that exists today.

[DanWalker]

I do not know where this "oil price drops" news comes from, but whatever Trump said, did not made any change in the price and Oil is still around 100 dollars.

That is not good even for oil companies, because while they are making money for sure, they are not really profiting like they used to because when the price is higher, they make more profit by selling it but they start to sell it less because there are less buyers. And all of the oil companies are hoping for this to end soon.

Incorrect. If the oil demand had decreased, it wouldnt have been able to remain at such high levels for such a long period. If higher oil prices brought no benefits, OPEC would not have chosen to limit production growth and tighten supply to keep prices elevated.
Oil is considered the lifeblood of the modern economy, and any economy would stagnate, or even collapse without it. Oil demand has not declined at all and has even continued to rise, as many countries are building up large reserves to prepare for similar crises in the future.

so far, no other energy source has been able to replace the role of oil.

[logfiles]

I do not know where this "oil price drops" news comes from, but whatever Trump said, did not made any change in the price and Oil is still around 100 dollars.

That is not good even for oil companies, because while they are making money for sure, they are not really profiting like they used to because when the price is higher, they make more profit by selling it but they start to sell it less because there are less buyers. And all of the oil companies are hoping for this to end soon.

The only memorable recent time when oil was on low demand and the oil companies felt a real pinch was during the COVID-19 lockdowns where there were travel bans both local and internationally.
With the instability in the Gulf region, do not be fooled that oil is on low demand. The demand is still high which is why the price is up, and those companies are still profiting, probably massively. Their only problem right now is the disrupted supply chain, but that is compensated with the inflated gas prices.

[tygeade]

There are situations where we need to wait some more, this is one of those situations. I understand it may not look great to us at the moment, but it is not something that can sustain forever neither. This war, unlike all other wars USA was in, causing the whole world to suffer. The world did not care about USA attacking Afghanistan or Iraq or Syria or Venezuela or wherever they wanted to to be fair.

Because if you are some random dude in France, or a woman in Nigeria, or some teacher in Norway, etc etc, these people did not have their ordinary life changed by Americas wars. Now that is not the case, oil price is going up, when oil price goes up, logistics costs more, when logistics costs more, products costs more, and now you do not have the money to afford to live the way you did before the war happened.

[Minor Miner]

I do not know where this "oil price drops" news comes from, but whatever Trump said, did not made any change in the price and Oil is still around 100 dollars.

That is not good even for oil companies, because while they are making money for sure, they are not really profiting like they used to because when the price is higher, they make more profit by selling it but they start to sell it less because there are less buyers. And all of the oil companies are hoping for this to end soon.

The only memorable recent time when oil was on low demand and the oil companies felt a real pinch was during the COVID-19 lockdowns where there were travel bans both local and internationally.
With the instability in the Gulf region, do not be fooled that oil is on low demand. The demand is still high which is why the price is up, and those companies are still profiting, probably massively. Their only problem right now is the disrupted supply chain, but that is compensated with the inflated gas prices.

Russia has reaped billions of dollars in profits from soaring oil prices since the war broke out. Meanwhile, US oil exports increased by 70-80% compared to pre-war. Therefore, it would be a big mistake to assume that oil companies, oil producers or suppliers are losing money or that demand for oil is decreasing.

Oil is an essential and irreplaceable energy source for all national economies. Therefore, with supply becoming increasingly scarce, this only benefits oil traders immensely.