The ceasefire settles very little other than opening the Strait of Hormuz, but it gives the media and everyone else 60 days to forget that Trump ever started this obscene war. Bibi will keep bombing innocent civilians everywhere he can to try to break the ceasefire, but Trump is bored with this war and ready to leave it behind to start a new one by taking over Cuba.

Nothing more of significance will happen in terms of Iran's nuclear goals and the media will just go on treating Trump as a sentient, competent, normal president.

Isn’t the US a net exporter?

….US refineries are designed to process crude that is heavier than the crude pumped out of our soil. As a result we sell about 5m barrels a day to companies in other countries.

Why would the US supply be dropping so low in response to the Strait? China, India, and some European countries are the most dependent on the Strait. The 4% we get from Iraq is all we're missing out on. Is the US exporting more gas and diesel to other countries to prevent an economic catastrophe? Opec supposedly increased capacity to make up for the loss of the supply through the Strait as well.

So a given refinery is pretty much locked in to use a single source of crude, or that from a very limited number of sources, unless they do extensive retooling to adapt to a different source. I’m guessing that as markets developed over time, domestic purchasers for US-sourced crude were not available, so they turned to the export market to sell our crude.

Wow.

That sounds... deliberate.

The country that invented a non gravity pen cannot figure out how to process the oil right here in the US?

Very... deliberate.

But...

To process all, or even one different grade here, would require building new refineries with DIFFERENT specifications/equipment. That would need new land to be purchased and permitted. New permits and engineers to design the new refineries. New rail lines to deliver the new oil to the new refinery and on and on.

It is not about Donald sending Vance with a screw driver, a wrench and a couple of nuts and bolts.

That is why the Venezuelan oil that we just captured is not helping with the world supply. That oil used to be processed and sold by Citgo. They don't want any part of rebuilding their former plant. It is too expensive..So only a small part of Venez oil is being pumped. There isn't refining capacity to process it.

Refineries are incredibly expensive to build, not to mention it takes years to get them operational. It's simply cheaper in the short-term to export to refineries that are already processing the type of oil you're pumping and import the type of processed oil you need.

The entire global world order of post-WWII was founded on the business efficiencies of trade. This is the world order that Trump is intentionally (antagonizing our allies) and unintentionally (Strait of Hormuz) destroying. Suddenly all that efficiency of trade is becoming a liability.

"superiors" have the public is "managed"

None of this is a secret. None of this is nefarious in purpose. I'm not some expert in the petroleum industry that has insider knowledge. This is just basic information that is readily available for anyone who pays attention to the news over the years.

Oil infrastructure is a massive investment. Companies don't make that kind of investment unless they absolutely have to do so. This is the reason that few companies were interested in Trump's "triumphant" acquisition of Venezuelan oil. The infrastructure is in bad shape and there was little incentive for any company to invest a fortune and a decade of time rebuilding it, especially in a country that is so politically volatile.

and don't tell me corporate America does not manipulate

So the processing can be different, depending on what impurities need removing.

" Don't look for the price of gas to come down any time soon ! "

... so wait and see, and look for the best prices and top off your tank.

... by, "The White House's response" is certain to be a lie. The dregs of humanity currently befouling The People's House couldn't tell the truth about the time of day.

Listening to an oil industry anaylst on CNN this morning. He made it clear that opening the Strait of Hormuz will not result in an overnight drop of gas prices to Trump's beloved $1.85 per gallon. Because:

-- All the ships in the Strait must move. Full tankers, empty tankers, cargo vessels, naval vessels -- all have to go somewhere. The Strait is narrow; ships cannot move in large numbers. How long to actually open the Strait? Who knows.

-- The Saudis and the rest of the MidEastern oil-producing countries cut back their production because of transport disruptions. They will not ramp up production immediately.

-- Insurance companies are raising their rates for maritime insurance for traffic in, around, and through the Strait and the rest of the MIdEast. This will cause some -- hopefully small -- reduction in traffic through the Strait.

Bottom line:
-- The Strait of Hormuz will not "open" any time soon.
-- Oil prices will come down very slowly -- VERY slowly.
-- Trump, Vance, and the rest of the gang will lie and lie and lie.
-- We gained NOTHING for 13 dead soldiers, 500 wounded soldiers, and God-only-knows how many billiions of $$$ wasted.

If everyone in the market really thought oil prices were about to spike, they would wait to sell oil. They are not doing that. A few executives are trying to talk oil prices up, but other than some volatility, I expect the world to be in a glut position by September.