🇦🇺⛽️ Australia is dangerously exposed to fuel export bans as it imports 90% of its gasoline and diesel from other East Asian countries which are cutting fuel output due to the unavailability of Middle Eastern oil.

@CIG_telegram

🇺🇸🏦 While it is true that the U.S. is the largest oil exporter and “only” imports ~3% of its oil through the Strait of Hormuz, the same can’t be said about its allies.

- Europe: Highly dependent on oil/gas imports
- Asia: Highly dependent on oil/gas/food imports

These regions also hold the vast majority of US assets owned and account for most of the buying.

The highly financialized and indebted US economy only functions when:

1) Allies buy US Treasuries to keep rates low
2) Allies buy US equities to keep markets and tax receipts up
3) Send cheap goods to the U.S.

The current spike in energy and food prices is threatening the very foundation of the empire.

As these highly import-dependent countries and regions face mounting costs and strain, they need to make a decision:

1) Print currency to buy energy and food
2) Sell US assets to buy energy and food

Printing currency would ignite inflation, and in an already inflationary shock, selling US assets at near all-time highs would buy these countries time for things to normalize.

The longer the Strait remains closed, the higher the incentive to sell US assets to relieve inflationary pressures.

🔗 Lukas Ekwueme

🇮🇷⚔️🇺🇸 The Iranian Army released a video showing an American F-15E Strike Eagle fighter jet being engaged by Iranian AA somewhere over the Iranian littoral.

The jet was narrowly missed by an Iranian missile and it doesn't appear it was targeted after.

@CIG_telegram

🇮🇷🛢 Iran's oil production just hit a 46 year high and it is selling oil at the highest prices in history

@CIG_telegram

🌾🚜 Fertilizer prices have moved up to their highest levels since September 2022, rising 44% YoY.

About a third of global fertilizer supply passes through the Strait of Hormuz.

This will drive food price inflation higher in the coming weeks/months.

🔗 Charlie Bilello

🇶🇦🇪🇺 QatarEnergy LNG CEO says 'We incurred a $20 billion loss at the facility we built for $26 billion two years ago.' — AnewZ

📝Adam Collingwood: Important: a big chunk of Qatari gas output and LNG train expansion was designed to feed European demand.

There was a big investment programme to increase LNG supply by more than 50% by 2027. Not coincidentally, this was the date that Europe was going to ban completely the purchase of Russian gas. In other words, the Iranians are smashing Europe's entire energy plan, such as it was.

The big question now is will Putin stick to form and provide Europe with the energy it needs to stave off economic disaster, or will he finally twist the knife by banning sales to Europe in anticipation of the EU ban in 2027? This is the gamble European leaders are now making. Relying on the Russians to play nice after everything. Breathtaking incompetence.

🔗 https://anewz.tv/region/middle-east/18819/iran-attacks-erased-17-of-qatars-lng-capacity/news

🇪🇺🇺🇸📝: The EU is the biggest loser of the 3rd Gulf War all thanks to the U.S.

Trump will reinstate in the future America's old energy export restrictions. The real reason will be to cocoon America from the global fallout from massively high energy costs before the midterms.

The excuse will be that "our allies didn't help us, so why should we help them?" Then, Europe would be royally screwed. They would have to go on bended knee to Vladimir Putin. Total strategic disaster.

This is NOT something we should look forward to. Nobody will enjoy the schadenfreude as they scrape together what pennies they have for food that now costs 40 or 50% of average wages.

🔗 Adam Collingwood

🇯🇴🤝🇸🇦🇧🇭 The Kingdom of Jordan has sent 5.000 riot policemen to Bahrain at the request of Saudi Arabia fearing an overthrow of the Al Khalifa family which rules the country.

Bahrain is a Shia majority country led by a Saudi-backed Sunni royal dynasty. The dynasty survived two nation wide protests in 2011 and 2013, both being quashed by Saudi and Emirati riot police and soldiers.

Due to the ongoing war, seems like Jordan now has to take over from the UAE and the Saudis into maintaining the Al Khalifa family in power in Bahrain.

A successful overthrow of the Al Khalifa family in would see the establishment of an new regime that will be aligned with Tehran and allow it to build military bases and more easily spy on the other Gulf countries.

🔗 Bin Saeed

🇺🇸⛽️ Crazy high jumps in average diesel prices from some U.S. cities- 7 have surged over $2/gal in 30 days:

Tucson +$2.21/gal
Phoenix +$2.10
Orange County, CA +$2.06
McAllen, TX +$2.01
Madera, CA +$2.00
Napa, CA +$2.00
The Villages, FL +$2.00
Prescott, AZ +$1.99
Sarasota, FL +$1.98

🔗 Patrick de Haan

🇺🇸⛽️ Just 0.7% of stations offering gasoline today below $3/gal, according to GasBuddy data, down from 78.0% of stations three weeks ago.

National average at $3.94/gal- likely to go above $4 in less than ~48 hours.

🔗 Patrick de Haan