I think you are the one that denies reality and has a good imagination
I'm not pretending to know what I don't know. I don't know what is said behind closed doors and I admit that, but you claim to have some kind of omniscience in such matters.
The US are dumping their reserves to keep the price down
The reserves really wouldn't last this long.
"AI bot The $70 price of oil is often considered artificial because it is dictated by
OPEC+ production caps and speculative
futures markets rather than purely reflecting the balance between physical supply and consumer demand. [
1,
2,
3,
4,
5]
I wouldn't use AI for any answers, it's often wrong and the source often doesn't support the conclusions. OPEC determining the price of oil has always been a thing but it's still real. And your previous assertion was that the US was dumping reserves, now you're changing your mind?
Specific factors that keep the price at this artificial level include:
- Financial Speculation: Up to 95% of crude oil trading occurs on the futures market, meaning prices are heavily influenced by market psychology, geopolitical sentiment, and trading algorithms rather than actual daily consumption. [1, 2]"
And you're saying that speculators are what, deliberately losing money to keep it down?
Still has to relate to the physical supply at some point. The fact is, only 20% passes through Hormuz, and you can work around that too. It's not the golden bullet you think it is.
I read the MOU and what is being said not by Fox news
We've already been through this and you lost, and just like Google AI you cited a source which did not support your conclusions.
It was against the MOU
Clause 5 authorizes Iran to make arrangements for managing commercial passage through the Strait of Hormuz for 60 days following the signing of the agreement. [
1,
2]
Nope:
5 — Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge
5 — Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of Oman and...
Iran is quite clear what is going to happen to go through the strait and shows what happens when it is ignored
Not what the MoU says. And the US has been quite clear about what its response to an attacked tanker will be and this will continue to be the case.
I mean, the US could also start using quicksink munitions on tankers coming from Iran, ever considered that? They could also level all of Iran's refineries and depots. The US is being kind, too kind IMO.
oilprice.com
www.twz.com
