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Posted
1 hour ago, Reagan said:

Where was the running count when JoeBama had prices going crazy?  Not being a hypocrite are you?!  

The Epstein effect wasn't in play.

Posted
1 hour ago, Porter said:

Is the Strait of Hormuz open or not?

Crude oil went up another 7% since Trumps speech last night. Trading at $108 last checked. 

Asia and Europe are bidding up the price. Also, as I previously mentioned, we’re running low on tankers.

Most folks don’t know that VRCC tankers can’t come into most U.S. ports because of the channel depths. There are actually multiple trans loading stations in deeper water around the U.S. for loading/offloading where the VRCC tankers can’t get into port.

(There are 2 for our area for example that are offshore outside of Galveston & Sabine.)

A VRCC tanker (super tanker/most cost effective) is roughly $30 Million per trip to Asia, and holds—if I remember correctly—around 2 MM barrels.

Any other tanker that doesn’t have to transload is more expensive per load even discounting the transloading fees.

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