General Discussion

SamuelTheThird

(1,642 posts) Wed Jul 15, 2026, 11:11 PM Wednesday

Oil traders warn market is close to running on empty as Hormuz shuts again

https://archive.is/20260715145955/https://www.ft.com/content/6c314457-ce9a-4689-b3e1-ff637de0d6bf#selection-1867.0-1875.108

The latest threat to Gulf crude exports comes after the International Energy Agency said on Friday that its member countries had released almost three-quarters of the planned 400mn-barrel emergency stock release that was announced in March, meaning there are only a few more weeks to go before those supplies to the market dry up.
“We’ve burned through all of the buffers we had. Everything,” said one trader. “All of that’s now gone,” he said.
----
But traders said that if the renewed closure of the strait lasts for months, with some suspecting Iran wants to keep the pressure on US President Donald Trump ahead of the November midterm elections, it is not clear this time where the oil to make up the shortfall would come from.
Amrita Sen, director of market intelligence at Energy Aspects, said that going into the war, the oil market had roughly 400mn barrels of excess inventories, not including strategic reserves controlled by governments.
“Now we have close to nothing,” she said. “Market complacency around Hormuz flows is being severely tested.”

5 replies

= new reply since forum marked as read

Highlight:

Oil traders warn market is close to running on empty as Hormuz shuts again (Original Post) SamuelTheThird Wednesday OP

WTI crude futures dweller Wednesday #1

Price is not reflective of whats coming within months SamuelTheThird Wednesday #2

I'm afraid you're right chicoescuela Wednesday #3

speculators will be active Shellback Squid Wednesday #4

On the bright side, I still don't have my car running again Jack Valentino Wednesday #5

dweller

(29,141 posts)

1. WTI crude futures

Reply to SamuelTheThird (Original post)

Wed Jul 15, 2026, 11:16 PM

Wednesday

are up to $79.54 , climbing since early week .

✌🏻

SamuelTheThird

(1,642 posts)

2. Price is not reflective of whats coming within months

Reply to dweller (Reply #1)

Wed Jul 15, 2026, 11:17 PM

Wednesday

chicoescuela

(3,443 posts)

3. I'm afraid you're right

Reply to SamuelTheThird (Reply #2)

Wed Jul 15, 2026, 11:35 PM

Wednesday

It’s going to get ugly and somehow it will be Joe’s fault

Shellback Squid

(10,274 posts)

4. speculators will be active

Reply to SamuelTheThird (Reply #2)

Wed Jul 15, 2026, 11:43 PM

Wednesday

Jack Valentino

(5,442 posts)

5. On the bright side, I still don't have my car running again

Reply to SamuelTheThird (Original post)

Wed Jul 15, 2026, 11:45 PM

Wednesday

(so I'm not burning any gas--- although the five gallons I recently bought for it, weighing about 30 pounds according to the internet--- damn near killed me carrying it back for about four city blocks... ah, the car WILL RUN, when I get the new battery!)

.... but, I've gotten used to not driving at all, so the new trips will be deemed as 'essential'--

Also, to afford the car insurance, I may only carry coverage for parts of the month--- and then stop my coverage with an insurance option known as "parking"--- which will continue your policy even though any real coverage is 'suspended'--- to "park" your car should only be a few dollars a month, with the understanding that you will NOT DRIVE it, since it is "parked"... It would be easy enough to "turn on the car insurance" for the first week of the month, for instance, and schedule all of my 'essential trips' for that first week of every month, for instance...

I have gotten used to walking to a nearby "Dollar General" store and not having a running car. I used Uber for a couple trips in the meantime...

Reply to this discussion