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WSHazel

(875 posts)

1. There appears to be demand destruction

Reply to Celerity (Original post)

Wed Jun 3, 2026, 09:32 PM

Wednesday

Somewhere in the neighborhood of about 5.5 million barrels a day, and that number is likely going up. The elasticity of demand for oil seems to have increased, and as oil gets above $100/barrel, demand starts to drop. This is great news if it is sustained. The world is switching to alternatives.

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Hugin

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Highlight:

So far, the closure of the Strait of Hormuz has not led to a major economic disaster. That won't last forever. [View all] Celerity Wednesday OP

There appears to be demand destruction WSHazel Wednesday #1

Lots of things become possible and economically feasible at greater than $100 per barrel. Hugin 18 hrs ago #10

The world is going to look very different next year SamuelTheThird Yesterday #2

Disagree. The U.S. will be worse off WSHazel 21 hrs ago #4

How? SamuelTheThird 19 hrs ago #5

I saw an article recently... Chemical Bill Yesterday #3

Oil is not energy for cities. It's gasoline and diesel and chemicals. Melon 18 hrs ago #9

Hence electric cars.... Chemical Bill 12 hrs ago #11

I forgot about heat pumps. Chemical Bill 12 hrs ago #12

I think a recession here is all but guaranteed Johnny2X2X 19 hrs ago #6

Since Trump's tariffs debacle, nearly all countries are working deals around the US. Same here as much as RoeVWade 19 hrs ago #7

The moron is dragging it out so he can claim credit for the 'recovery' before the midterms dalton99a 18 hrs ago #8

Good article. gulliver 11 hrs ago #13