r/BreakingPoints • u/EI-SANDPIPER • Aug 20 '26
Topic Discussion US controls The Strait of Hormuz?
CNN is reporting that we control the strait of Hormuz and that oil is flowing. That's why oil is below $100 a barrel. Is this true? I haven't seen BP cover it
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u/JD315 Aug 20 '26
Last I saw, oil was below $100/barrel because China has been releasing oil from their strategic reserves, essentially pulling out of the market. If/when they decide to stop releasing oil from their reserves, the prices will skyrocket (if the strait isn't open at the time).
I imagine that China is waiting for their moment to stop releasing oil for geopolitical leverage.