Most US allies are deeply annoyed by the Netanyahu-Trump war on Iran and the consequent closure of the Strait of Hormuz. The war has taken around 11 million barrels a day off the market. The world used to produce a little over 100 million barrels a day before the war. While an 11 percent shortfall may not sound like much, the price consequence is much more than a 11% rise at the pump because drivers of gasoline vehicles have no choice but to buy gasoline, and with Saudi Arabia among the producers cut off from the Strait of Hormuz, the main swing producer cannot increase output.
In Europe, gasoline is up as much as 17% and diesel is up 20%-30% since February 28 when Netanyahu and Trump launched their war. In Asia, the question goes beyond mere high prices to the question of physical barrels. That is, if this war goes on, there simply may not be any vehicle fuel, which would be an enormous catastrophe. *https://www.juancole.com/2026/04/south-israeli-crisis.html <https://www.juancole.com/2026/04/south-israeli-crisis.html>* -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#41479): https://groups.io/g/marxmail/message/41479 Mute This Topic: https://groups.io/mt/118857640/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
