Approximately 3 million barrels of oil will go off line today. Oil is now approximately $100 per barrel…Hormuz is now closed for all practical purposes. Oil tankers are now escorted by the US Navy and still, only one ship has passed in the last 24 hours. Many other commodities are moving through Hormuz as much more than oil is vital to the world. Iraq has also been hit with missiles over the week end. This conflict is not going to be short lived. The downstream effects are incalculable. I don’t know about you but this is not my definition of economic security or stability. Iraq is in the middle of a world wide possible crisis unless Trump makes a decisive move very soon. The RV is on the back burner now… :Fnu Lnu
