Something to bear in mind is that several wells / refineries attached to the Strait have shut themselves down because they do not have the storage capacity to keep operating with no ships to load into.
So even if the war ends tomorrow, oil prices will not instantly drop back down below $100 a barrel. Those wells / refineries do not start up instantly. It will takes months before they can get back up to max operating capacity.
Bottom line: You are looking at $3.75+ gas until the midterms at least. The GOP is generally screwed on the economy front come November.
This is a reasonable take and I agree with a lot of it. One nit is I think they still can drive down oil prices before the election if they wrap Iran up by June. Also, some of the data on the economy is showing it's in pretty good shape, but higher gas prices never gains votes come election time.
Now it seems the President is bragging about committing what is almost certainly a war crime.
Now it seems the President is bragging about committing what is almost certainly a war crime.
Trump has no idea what might constitute a war crime, and Pete is like the mad chick at the end of GoT just leveling anything he can reach.
Well this isn't good. US Fighter jet shot down over Iran.
https://www.nytimes.com/live/2026/04/03/world/iran-war-trump-oil#us-fighter-jet-iran
And yet more than a couple posters here...Well this isn't good. US Fighter jet shot down over Iran.
https://www.nytimes.com/live/2026/04/03/world/iran-war-trump-oil#us-fighter-jet-iran
One pilot rescued and search is still on for the other. Appears that Iran doesn't have him/her or they'd be telling the world they did.
What is still missing from this being a war subject to the War Powers Act?
Haven't had the time to read much today, but here are some for those interested:
No sign of war winding down in Mideast as Friday dawns with strikes across region | AP News
Hopefully, the sane advisors again talk him out of the insane notion of leaving NATO. Trump says NATO withdrawal under consideration amid Iran tensions | Stars and Stripes
Howz bout Trump emigrates to Israel!!!!Haven't had the time to read much today, but here are some for those interested:
No sign of war winding down in Mideast as Friday dawns with strikes across region | AP News
Hopefully, the sane advisors again talk him out of the insane notion of leaving NATO. Trump says NATO withdrawal under consideration amid Iran tensions | Stars and Stripes
@spartans9312 the other takeaway is how terrible it is Iran can blockade all that solar, wind, and nuclear power.
Oh wait, maybe the Straight doesn't block those so having more of those would be really good.
@spartans9312 the other takeaway is how terrible it is Iran can blockade all that solar, wind, and nuclear power.
Oh wait, maybe the Straight doesn't block those so having more of those would be really good.
It’s a good thing Europe doesn’t need oil with all their other energy sources