Crude oil jumps 20%

[uztrac]

How safe will those tankers be leaving the Straights of Hormuz. A rerun of the tanker war maybe in the offing. Hey ho 'events dear boy, events'

https://en.wikipedia.org/wiki/Operation_Earnest_Will

You are very accurate,it is the flash point for any future holdup/s. As usual the only navys protecting the tankers are from the US,UK & Australia.I notice that no other EU nation is prepared to protect the vital shipping of oil. Perhaps they have a secret deal ? with President Putin ?

 

[jondear]

Out of red here to, hoping the price hike won,t happen till end of week.?

Just ordered on Fri!

 

[Wigeon]

£10 on the wheat price when it opens?

 

[milkloss]

You are very accurate,it is the flash point for any future holdup/s. As usual the only navys protecting the tankers are from the US,UK & Australia.I notice that no other EU nation is prepared to protect the vital shipping of oil. Perhaps they have a secret deal ? with President Putin ?

The EU tried to do something but,as we decided to join the US effort, they gave up!

 

[Phil P]

£10 on the wheat price when it opens?

Probably £50 on N then

 

[ollie989898]

You are very accurate,it is the flash point for any future holdup/s. As usual the only navys protecting the tankers are from the US,UK & Australia.I notice that no other EU nation is prepared to protect the vital shipping of oil. Perhaps they have a secret deal ? with President Putin ?

The USA probably sees a rise in crude as a bonus because it just makes fracked oil even more competitive.

A conflict in the straits would be a nightmare, the Yemenis could just let a load of naval mines go in there and to hell with whoever gets hit. The Iranians have a collection of diesel-electric submarines which would be ideally suited for this area.

 

[M-J-G]

I'd be more concerned about a future gas supply.

 

[Yale]

Probably £50 on N then

Next years already booked.

Maybe one of these.

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[uztrac]

The EU tried to do something but,as we decided to join the US effort, they gave up!

Nothing changed there then !!!

 

[Campbell]

Just ordered on Fri!

Ah! delayed my winter Kero order on friday..........

 

[R J]

will see a lift in OSR price then ?

 

[Exfarmer]

I know it’s a global commodity (like wheat?) but don’t we use north see oil?
So why would we have a shortage/be affected by Iran oil? (Other than price)

Apologies if that’s a stupid question?‍

Thew UK only produces approximately one third of its requirements.
North Sea oil is very high grade so some of the production is still exported and lower grade diesels come in instead

 

[Exfarmer]

You are very accurate,it is the flash point for any future holdup/s. As usual the only navys protecting the tankers are from the US,UK & Australia.I notice that no other EU nation is prepared to protect the vital shipping of oil. Perhaps they have a secret deal ? with President Putin ?

much of the time even the UK has no effective naval force in the area, even when it does you can be sure they will not risk taking fire from Iran

 

[7610 super q]

I don't think folks realise how serious things are in the Middle East. We're in our own little bubble fusing about Brexit / vegans / climate " emergency ". Meanwhile........

 

[Johnnyboxer]

It often makes me laugh when folk on here who still live in the 70's believe that we are self sufficient and need no one.

People forget how small the world has become and how reliant we are on others, if there was a war in the middle east resulting in a fuel shortage, restricting imports, there would be civil war within a week.

The Chanels and Chantelles from the local estate would be looting our farms and we would be powerless.

But, Brexit will make it ok........................taking back control

 

[Johnnyboxer]

Ah! delayed my winter Kero order on friday..........

Just ordered Kero for the house at 8.15am and it was 47.9, based on last Friday's price

They were expecting the new increased prices through at 9-9.30am today, so I went ahead at 47.9 and they would 'stand-on'

 

[redsloe]

Up 3p for red but not moving from that.

 

[Brisel]

Other oil producers will cash in on this, including Russia.

Every cloud has a silver lining...

 

[Yale]

much of the time even the UK has no effective naval force in the area, even when it does you can be sure they will not risk taking fire from Iran

Yes,you certainly have experience of how ‘bat sh!t crazy’ that whole region is.

 

[pellow]

There was a report out a couple of weeks ago that said world oil stocks are high and the worlds sketchy economic situation might mean oil prices dropping