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pibroch

4,586 Posts.

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18/06/24

02:09

Post #: 74360488
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Originally posted by szaba_the_hut: ↑

I heard some interesting analyis on this today.

The Petro dollar is not dead yet, reason being the world largest exporter of hydrocarbons (The USA) sells to the rest of the world only in USD. It is true that increasingly trades between other countries are occurring outside the USD though but its a gradual thing. US treasuries (US Debt) nobody wants to touch with a barge pole rn, hence the rise of gold.... but the USD is dying slowly while US remains a large oil and gas exporter. Some say Trump will usher in a drill baby drill policy in the US ie oil cheaper plus end the war with Russia which also helps oil to be cheaper - Trump bearish for oil price and thats good for motorists and transport costs.

Also - cheap oil hurts Putin and Iran

On the flip side trump is pro-israel and may smack Iran at some point - so there is that potential spike in oil price against a bearish cheap backdrop.....

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Also - cheap oil hurts Putin and Iran

Interesting that you call Iran "Iran" and refer to Russia as "Putin". You appear to have been infected by western propaganda Kool Aid LOL.
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