Oil Shipments Almost Back to Normal but Why Are Prices Still High- Explained

Oil Shipments Almost Back to Normal but Why Are Prices Still High– Explained by the numbers. Basically big ships near the Strait of Hormuz unload oil to smaller boats who go thru the Strait and they once thru, reload back onthe big ships. Hence, 80% oil going thru but because of loading and unloading costs are more.

Now, despite spending $195 BILLION on the Ukraine war against Russia, Trump announced this week that Russia will supply the global market/USA 300,000 tons of diesel in October and another 500,000 tons in November and ONE million in December and another 3 million within a short time after that. So now we are funding Russia while spending money on fighting them. Unbelievable.

And, here is the best part – it a political ploy because if the USA got all the 300,000 tons of diesel it would last, based on daily usage, about 13 to 14 hours. So, basically, no effect. And, Russia had a ban on diesel exports due to Ukrainian strikes but Trump got Putin to lift some barrels to help Trump out in the elections. As for Venezeula- it has crude vs. finished diesel and its infrastructure is a mess.