by David Haggith, Gold Seek:

Surprise, surprise, the Strait of Hormuz blockade is now fully back on by both sides, and oil has now followed the full path I said it would. First, it plummeted when the strait briefly reopened, as I said you could expect on the basis that foolish speculators would all heave a huge sigh of relief that the worst was behind us. Of course, the worst would prove to be nowhere near behind us; so, I also said oil prices would soon shoot right back up when reality set in. Ta da!

Reality has set in. Iran, as I’ve always said, is not desperate to make a deal with the Don, as he keeps lying and saying they are. (So, I keep calling out his lies and haven’t had to apologize for being wrong about that yet.) I’ve said from the beginning that Iran is making this a war of attrition. That means it knows time is on its side. That is how attrition works. So, any time Iran can buy itself some temporary freedom at no cost from bombs and missiles while keeping the strait almost fully closed for oil shipping out to the West, which is exactly what it did, it will be happy with that stall tactic because attrition takes time. And that such cost-free deals are offered by Trump shows who is really itching to make a deal. We even paid Iran to make that deal by freeing up some of their sanctioned money to help them rearm. The longer the strait is blocked for West-bound oil, the deeper the pain for the US and its former allies.