Asking if current oil price spike due to Iran tensions will be the peak for the year
Joe
Mike McGlone
Current price move is likely a bear market bounce and peak, with consistent trend showing Middle East supply disruption events create price peaks followed by declines
Questioning if potential Strait of Hormuz blockage creates different factor this time with OPEC capacity constraints
Kaylee
Mike McGlone
Strait of Hormuz blockage hurts Iran most, President can bring Saudi supply online quickly as shown with Venezuela actions
Asking about spare capacity elsewhere if actual disruption occurs
Joe
Mike McGlone
Saudi Arabia can bring back curtailed production; Gulf War experience shows peaks occur at invasion start, not sustained
Asking about Venezuela's role in oil market and connection to price pressure
Kaylee
Mike McGlone
Venezuela part of Western Hemisphere supply shift; US/Canada now exporting 8M bpd vs importing 11M bpd at 2008 peak