As President Donald Trump warns Iran against using mines to threaten oil tankers in the Strait of Hormuz, the U.S. Navy’s purpose-built minesweepers are sitting stateside thousands of miles away with no plans to put them to use while the war rages on. As gas prices in the U.S. continued to skyrocket, Trump on Tuesday took to Truth Social to demand that Tehran “immediately” remove any mines placed in the vital seaway and to do so “forthwith” lest the Iranian military suffer “consequences … at a level never seen before.” That warning came after multiple news outlets reported Iran had begun mining the strait, a narrow waterway that is the only passage from the Persian Gulf into open ocean. He also threatened to use drone strikes to “permanently eliminate any boat or ship attempting to mine the Hormuz Strait” and boasted of having done so against 10 Iranian “inactive mine-laying boats” in a separate post several minutes later.

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    5 hours ago

    Not all oil and its child products are created equal.

    There are serious knock on effects occurring right now that we won’t see the impact of for a month or two as companies burn through their inventory

    Machine oils/lubricants, aviation fuels and of course fuel. Not to mention LNG, fertilisers and other petrochemical feedstock.