#strait-of-hormuz

#strait-of-hormuz

An X account that uses the handle Ibrahim_alFiqar and claims to represent senior Iranian military command last week posted a missive that translates as "We will impose fees on internet cables." That's presumably a threat to charge operators of submarine cables a fee to avoid some kind of disruption.

Sen. Rick Scott (R-FL) told Fox Business anchor Maria Bartiromo on Monday morning that he believes President Donald Trump will have to bomb the living daylights out of Iran in order to get global oil supply moving again and blamed ex-President Joe Biden in the process.

In response, Iran closed the Strait of Hormuz, where 20% of the world’s oil flows. Predictably, oil and gas prices have soared. The national average was $4.53 for a gallon of gas, as of Thursday. Before the war, it was under $3. Collins noted to Jordan that Trump ran and won in 2024 on the issue of affordability, especially gas prices.

You see, the Pope has a buff that makes him impervious. You-as the protagonist, President Donald Trump-cannot beat him unless you backtrack to the dungeon entrance and say a prayer with Pete Hegseth. This will unlock "2 Corinthians," a spell that renders the Pope vulnerable to special attacks like "Mar-a-Lazer" and "The Power Grab." When I beat the Pope and collected a barrel of Iranian oil as a prize, I told my editors my overdue draft of another story would be submitted later.

Global oil inventories are approaching their lowest point in eight years, with Goldman Sachs analysts estimating that stocks could fall to 98 days of global demand by the end of May. Yet if you're looking at the markets, things look relatively rosy. Brent crude prices are hovering around $100 a barrel, down from a post-Iran war peak of $126 in April. West Texas Intermediate crude also stood around $100 a barrel in the past week, down from its April 7 high of $113. (Both benchmarks are still far above their pre-war levels).

Governments in the Global South are among the least prepared to respond to the oil shock caused by the Iran war. As the blockade of the Strait of Hormuz drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock. Although surging fuel prices due to the fallout of the US-Israel war on Iran have impacted most of the world, import-reliant poorer countries are among the worst affected and the most lacking in energy reserves to cushion the blow.

Aramco, the world's largest oil company, said Sunday its first quarter profit jumped 25% as the Iran war disrupted oil supplies and raised prices. Dhahran, Saudi Arabia-based Aramco said it successfully shifted some oil exports to a pipeline to avoid the Strait of Hormuz, which has been disrupted by the war.

BOAT is a passive fund tracking the Solactive Global Shipping Index, holding 52 maritime shipping companies including Frontline, Mitsui O.S.K. Lines, and Matson. It charges a 0.69% expense ratio and manages a slim $78.6 million in assets. The distribution is a pass-through of whatever cash its underlying tanker, dry-bulk, and container operators pay out each quarter. There is no options overlay and no leverage. When freight rates rip, the holdings earn outsized cash and most distribute it. When rates fall, the payout falls with them.