HRH Prince Abdulaziz, likely the most informed and plugged-in energy expert on the planet: “for me to be silent is a humble admission of the fact that I don’t know what will happen, not tomorrow but in half an hour time.” There is no playbook for what we are going through!

NEW: Multiple sources published what appears to be the text of the US-Iran agreement. Neither the United States nor Iran has officially published the text of the agreement at this time. The leaked text of the agreement, if accurate, indicates that Iran has emerged from the conflict in a stronger strategic position, however. ⬇️ The MoU reportedly grants Iran significant economic relief, which Iran would likely use to try to reconstitute its missile, drone, and nuclear programs, as well as the Axis of Resistance. The MoU states that Iran could receive further economic relief by fulfilling its commitments in the MoU and reaching a final agreement that addresses key nuclear issues. ISW-CTP has not observed any indications that Iranian decision-makers are willing to make concessions on the nuclear issues that would be included in a final agreement, however. Iran will likely try to exploit the agreement’s seemingly ambiguous language about the Strait of Hormuz to try to enforce its control over shipping through the strait. The reported text of the agreement does not explicitly bar Iran from “managing” the strait, and Iran could therefore continue to insist on vessels using its illegal traffic separation scheme in Iranian territorial waters and paying “fees” to the IRGC Navy. The Iranian regime is interpreting the clause in the agreement about a ceasefire “on all fronts” as a requirement for Israel to cease operations against Hezbollah and withdraw from Lebanon. This interpretation is part of a broader Iranian effort to preserve Hezbollah by trying to secure Israel’s capitulation in Lebanon. The reported MoU terms indicate that Iran structured the agreement in a way to try to limit the United States’ ability to impose renewed pressure on Iran during the 60-day negotiations period and thereby make it more challenging for the United States to extract concessions from Iran during the negotiations. Iranian officials and media are largely framing the US-Iran MoU as an Iranian victory that codifies Iran’s military achievements. The Iranian regime’s English-language media outlet, Press TV, argued on June 16 that the MoU is not simply a ceasefire, but rather represents the “political codification of a battlefield reality.”

America's emergency oil stockpile tumbles to its lowest level since the Reagan administration. cnn.it/4xww6qY

I believe the biggest disgrace of the war was how Trump used the people of Iran. He gave them hope then snatched it away.

The New York Post confirms the MoU would allow Iran to “manage the Strait of Hormuz,” and it would extend the ceasefire to Lebanon.

API Inventory Moves 06/16 Crude -8.33 million (exp. -4.5 million) Gasoline 2.479 Distillates Cushing SPR actual -8.9 million (lowest levels since.... 1983) #oott #crudeoil #gasoline #API

Trump’s support in Israel has flipped in 3 weeks — from 23 to -23, a 46 point drop, according to Kantar poll.

API Inventory Moves 06/16 Crude -8.33 million (exp. -4.5 million) Gasoline 2.479 million Distillates -461,000 Cushing -1.523 million SPR actual -8.9 million (lowest levels since.... 1983) #oott #crudeoil #gasoline #API

Refilling rate is nowhere near the same speed as the release. Historically, we are lucky if we can reach 1 million b/d of refill excluding China.