Oil prices surge after Trump says U.S. will blockade the Strait of Hormuz

[bucolic_frolic]

Source: NBC News

U.S. crude oil soared 8%, to more than $104 per barrel. International Brent oil jumped more than 7%, to $103 per barrel. Wholesale gas prices also spiked 6%, while heating oil, a proxy for jet fuel prices, jumped 10% in early trading.

Stock futures declined sharply. Futures that indicate where the S&P 500 will trade fell 1%, Nasdaq 100 futures slid 1.3%, and Dow futures tumbled more than 500 points.

"Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said on Truth Social.

"I have also instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran," Trump added in the post.

Read more: https://www.nbcnews.com/business/markets/oil-prices-surge-trump-says-us-will-blockade-strait-hormuz-rcna330824

[chicoescuela]

1. Who did not see this coming?

More insider information for his buddies to make a little more cash.

[IronLionZion]

2. MAGA voters did Nazi this coming

As if they'll ever admit the connection.

[chicoescuela]

3. I hope to live long enough to see trump fully exposed and a majority of Maga admit

publicly that they are fools for ever believing his nonsense and supporting him.
Probably won’t live that long

[Wonder Why]

17. Catch 22. You have to have a brain to realize you don't have a brain.

[orangecrush]

19. Quite a few of them are

[Mysterian]

21. Cult members will drink the flavorade before they admit they were wrong

They are depraved, stupid cowards.

[BaronChocula]

4. I'm getting a trading account

I need to get in on this scam.

[IronLionZion]

8. MAGA insiders know when he's going to issue outrageous orders

good luck predicting that. Plenty of traders thought he would go TACO like he did last year. But this year it's more TOFU, Trump Always Fs Up.

[BlueWavePsych]

5. SELL, SELL, SELL

[bucolic_frolic]

6. In the 1990s I actually used to watch this guy

Didn't yet realize the yo-yo stories, pundits, talking head creeps were more designed for ratings and your eyeballs than for any competent investment advice. Had the same problem with Yahoo! Finance later. Gave it all up.

[IronLionZion]

9. What those TV/Online folks won't tell you

is that time in the market beats timing the market. Simply holding on to diversified investments for decades and adding more on a regular basis (dollar cost averaging) beats all the "experts" every time. It's a simple strategy that requires discipline and consistency over a lifetime.

Warren Buffet did a bet with hedge funds that a simple index fund would beat the expert traders over 10 years. He easily won that bet without breaking a sweat...including the great recession in between.
https://www.investopedia.com/articles/investing/030916/buffetts-bet-hedge-funds-year-eight-brka-brkb.asp

[bucolic_frolic]

10. There are those who don't subscribe to indexing.

And there are great fund managers who beat indexing in their day. Peter Lynch, John Neff. If avoiding index funds, it's all about the quality of the fund management. I've never dollar cost averaged. I might invest only when the market is down though.

When Putin invaded Ukraine, some funds invested in the region had to value their Russian assets at zero, either by fund rules or government rules. The price of such funds were dirt cheap. That was an entry point.

[IronLionZion]

11. The Iran conflict is also a buying opportunity for folks interested in taking advantage of the situation

Considering how many countries are impacted by the Strait of Hormuz, their stocks are currently low.

[cstanleytech]

13. It also requires having money.

[IronLionZion]

18. There are brokerages out there designed for kids or young people with very low minimums

I used to think the same as you. Now I wish I had started investing earlier in my life. I didn't know then what I know now. Time beats timing.

[Skittles]

14. *SNORT*

[LilElf70]

7. Do the math

I am a consumer of 2 gasoline cars.
Fact: Gas is +$1.60 more than what I was paying before Trump decided to start an illegal war.
That's $1.60 per gallon, times billions of gallons consumed DAILY. Even my calculator has a hard time
determining this number. hehe

Anyone got a short answer here? Where did all that money go? Who now owns all those Benjamins I spent?

My next question is, if we are the world's largest producer, why can't we adjust OUR price of oil accordingly, only in OUR country, to benefit the people?

[Captain Zero]

16. Because the oil companies will sell where they get the best price?

??

[cstanleytech]

12. Invoke the damn 25th already!!

[malthaussen]

15. You know what's depressing? I predicted this.

It is absolutely impossible to come up with a crazy, off-the-wall idea that isn't Tuesday to this Administration. I'm still waiting for us to deploy troops to help Russia in Ukraine, though.

-- Mal

[travelingthrulife]

20. More pumping and dumping in the stock market

[Bengus81]

22. If Biden had pulled this shit a barrel of oil would be $200 just on him saying so

Then $300 a barrel if he took action.