Iran Catch-All | IRAN WAR

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Duke Mu said:
It still doesn't work that way.

Here's a start:

The Economist Guide to Commodities 2nd edition: Producers, players and prices; markets, consumers and trends: Caroline Bain: 9781788166027: Amazon.com: Books

The Economist Guide to Commodities 2nd edition: Producers, players and prices; markets, consumers and trends [Caroline Bain] on Amazon.com. *FREE* shipping on qualifying offers. The Economist Guide to Commodities 2nd edition: Producers, players and prices; markets, consumers and trends
www.amazon.com
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Are you telling us you're in the petroleum business? Linking to a book that nobody here is going to buy is not a serious attempt at explanation.

The problem with the "global market" hypothesis is that prices can change in real time but oil does not move that fast. There is no practical way to get Canadian oil to Japan except by their volume-limited Western port. Otherwise, their oil mostly goes south into the US, where it also cannot go to Japan -- it goes to the gulf and gets refined there. The infrastructure is lean and assumes more or less no major disruptions. If there is a major disruption, then the infrastructure cannot adjust immediately.

If you're expert on this, then I will defer but I don't think I'm wrong here. It might depend on how much of a disruption we are talking about.
 
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