Oil Price Slides Below $100 as China Defies US Hormuz Blockade
Source: Yahoo Finance
The sharp pullback came as China's Defense Minister Admiral Dong Jun signaled that Chinese vessels would continue transiting the Strait of Hormuz under existing agreements with Iran.
Admiral Dong Jun delivered a pointed message to the Trump administration and the US Navy. He confirmed that Chinese ships are actively moving through the Strait of Hormuz and that Beijing will honor its trade and energy agreements with Tehran.
Read more: https://finance.yahoo.com/markets/commodities/articles/oil-price-slides-below-100-190028120.html
Well, that definitely puts the US Navy between a rock and a hard place. Interdict a Chinese oil tanker, and the next one might come with a Chinese military escort.
bucolic_frolic
(55,358 posts)He'll have to raise the stakes.
doc03
(39,105 posts)Nukes.
NickB79
(20,382 posts)And neighboring Asian nations get none, or buy it from China.
A massive win for the Chinese government.
dem4decades
(14,149 posts)flamingdem
(40,936 posts)Saw him present the idea on CNN I think.
But as usual they didn't think it through!
BootinUp
(51,429 posts)Trump Only F-cks Up.
I don't think Russia has any navy that would be a threat. And China doesn't need an escort; why provoke an attack by providing a military target. Crew the Chinese tanker with volunteers, send them to load oil and refuse to stop for any US naval ship that fires across the bow. Slow walk it, and tell Trump he has no authority to stop a Chinese flagged vessel. If it goes badly for the American's, it's just as effective to demonstrate to the world that the US can't be trusted to follow international law and respect other's sovereignty.
BootinUp
(51,429 posts)This is a seriously bad situation.
Metaphorical
(2,646 posts)An oil tanker is a mighty big drone launch pad. The Chinese need not do anything other than buzz the US capital ships with them, but it is likely to make interdiction a particularly thorny issue.
fujiyamasan
(1,839 posts)I love how the Chinese simply DGAF what he says at this point. We have shit to do move along you orange dufus!
More seriously speaking, he has become a global laughing stock. He needs to be removed ASAP. Ehat were dealing with is simply not tenable.
everyonematters
(4,186 posts)This means higher prices on everything until we realign the whole economy.
republianmushroom
(22,404 posts)You mean there are reprecussions for being stupid??
Shipwack
(3,078 posts)DallasNE
(8,015 posts)I presume they told him that the bluff will not work - that China will run the blockaid.Then what? Trump continues to operate like a 5th grader playing the game of Battleshiptotal embarrassment. Get him out of there before he screws up so badly that the response will be catastrophic.