From this morning...

Al Jazeera - The global oil market is “running on borrowed time” as countries exhaust reserves used to cushion the impact of major supply disruptions, an analyst says. “It’s really quite dire,” said Kona Haque, a commodities and macro‐economist, describing the market since the US-Israel war on Iran began in February as experiencing “the biggest supply shock ever”.

“Oil prices reached over $100 a barrel, went down to $70 and back up to $100. It’s a rollercoaster. It’s the kind of uncertainty that shippers, oil producers and oil consumers all hate.” Haque said China has helped ease pressure on the global market by reducing exports of refined petroleum products, allowing it to import less crude oil. “That’s been a huge source of relief for the oil markets over the last five months, but how long can they do that?”

Other countries are drawing down strategic inventories built up over many years. “Stocks are becoming quite tight. We’re running on borrowed time.”

For about 6 weeks - so I've seen similar headlines again and again and again. As other Hexbears have pointed out in this thread and in news mega - China has been a stabilizing influence. Plus Trump's ability to jawbone markets and make the price of oil go down is beyond belief.

China' influence is decreasing. If Trump were sane and intelligent - he'd understand what he's doing is toxic for the GOP just before an election. But it seems to me the Iran War will likely continue on and on beyond election day. How can a crash in supply plus spiking energy costs not eventually happen? Maybe it's just a question of how soon and how bad.