All options are on the table, including futures manipulation.
Today’s12.38 percent jump is not yet reflected in consumer gasoline and diesel prices.
AAA Gasoline Prices
Truckers and other diesel users are getting hammered. In the last month the price of diesel is up 18.9 percent.
Regular gasoline is up 14.5 percent.
Expect a big jump tomorrow in consumer and trucker prices as crude futures jumped over 12 percent today.
Jet fuel is in another league.
Jet Fuel
Trump Administration Eyes All Options to Tame Oil Prices
Bloomberg reports Trump Administration Eyes All Options to Tame Oil Prices
The Trump administration is weighing a range of options for addressing the spike in oil and gasoline prices amid the war in Iran, Interior Secretary Doug Burgum said.
“Everything is being considered,” Burgum said in an interview Thursday, adding that the list includes possible actions that would have immediate impact as well as longer-term and more complex options.
US President Donald Trump huddled with Burgum and other top advisers to discuss a range of options Tuesday before announcing plans to provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz.
Other possibilities include releasing crude from the country’s emergency oil reserve, potentially in coordination with other nations to maximize effect. Administration officials, however, have so far not moved to tap the Strategic Petroleum Reserve.
Analysts and others in Washington have pointed to additional options that could be considered by the administration, including waivers of fuel-blending requirements and even the US Treasury trading oil futures.
A move to trade in oil markets by the world’s largest economy would be unprecedented. The US has a unique position as the world’s biggest oil producer and one of the largest consumers. But it’s unclear how such program would work to lower crude and gasoline prices.
Meanwhile, details of the plan for the US International Development Finance Corporation to offer insurance to tankers are still being developed, Burgum said. “The team is working hard,” he said, citing the involvement of Treasury Secretary Scott Bessent and Energy Secretary Chris Wright.
“We have an opportunity as the federal government to come in and establish, I would say, some normalcy,” Burgum said. “The US can take on some risk to help make sure that our allies in the world are well supplied, and we’re the only ones that could do that, because we’ve got the financial power and the naval power to make that happen.”
Hopefully, I don’t have to explain how stupid oil futures manipulation is.
Trump Announces Reinsurance Program
Don’t Worry, Iran War Ability Is Destroyed
Do you believe Trump announcements or not?
Propaganda Update
Desperation Sets In
Russia the Big Winner
In other news, jobs “unexpectedly” declined today.
I have been expecting big negative revisions and this is just a start. For discussion, please see Nonfarm Payrolls Decline by 92,000 in February, Household Data Is Garbage
Annual Household benchmarks were again huge. Smoothed data not yet released.
Related Posts
March 4, 2026: Strait of Hormuz Oil Bottleneck, Crude Jumps, Tanker Costs Soar 900 Percent
Trump says prices will come back down. OK when?
March 5, 2026: Trump Wants Role in Picking Iran’s Next Leader. Questions Abound
OK, how is this supposed to work?
March 5, 2026: Four Mideast Oil Producers Discuss Force Majeure to Withdraw from US Contracts
Saudi Arabia, UAE, Kuwait, and Qatar discuss canceling US investment commitments.
March 6, 2026: Irony of the Day: Trump Demands ‘Unconditional Surrender’ by Iran Without Declaring War
Unconditional surrender will take boots on the ground.
When does Trump get is Nobel Peace Prize?
Friends in Australia are reporting from the Albert Lake Park track F1 race that all of the team members and sponsors from the Middle East have arrived with only a few delays. Obviously, this means that at least some air traffic is functional from Bahrain, AbuDhabi the UAE and Saudi Arabia.
While commercial air traffic is suspended, private jets are slipping out it seems.
The world is full of surprises!
Saudi and Oman still have international flights . UAE keeps going on/off depending on the threat. Bahrain is closed.
UAE people can drive to Oman and fly. Bahrain people can drive to Saudi and fly.
Source: I’m living in on of these countries right now.
Ever since “WMD in Iraq!” woke me up, I noticed my regime never speaks the truth while their targets usually do. It’s not personal. It’s institutional.
Accordingly, ignore anything spoken by a Western ruler — like it wasn’t even said — unless it’s a confession, in which case presume it is the tip of the iceberg.
Ever since “WMD in Iraq!” I have grown tired of the same old lies…now I find the lies from Russia refreshing
. DJT is a smart guy
. I wonder why he didnt refill the SPR that Joey B depleted
Bullish for inflation!Inflation was getting too low considering the size of the debt……
They always need more inflation to kill the debt.They don’t care about the rest….
What timing. 25 Feb 2026 was the final peak valuation of global composite equities (ACWI), the final terminal apogee of a natural 44 year 1982 asset-debt (private debt) macroeconomic cycle and the beginning of a 1929-like crash consistent with the US Feb job loss data. Now add to that naturally occurring cycle, the concurrent initiation of this substantially thoughtless, anti-national US interest 28 Feb 2026 Iran war with its antecedent treacherous Pearl-Harbor-like fake negotiations, and with its instantaneous effect on the global energy supply line. The 25 Feb 2026 naturally occurring fractal equity crash would have caused sovereign interest rates and commodity prices to plummet with oil prices collapsing. Now with the Iran war, the sudden demand for marginally produced and stored oil and LNG have acted oppositionally to a naturally occurring equity crash. Japan, for instance, is prepared to sell its held US sovereign debt to buy the >97% of the oil/LNG that it imports and oil/LNG prices have increased 35-100% in one week, a record. Claude AI, that has a grasp of Lammert fractal macroeconomics, not surprisingly, has reached the conclusion, that the nadir of the initial crash will be greater than the naturally occurring crash. What a mess.
Hi, mish. Following the 1973 oil shock, oil price did ×4 in a little over 6 months.
It was about 5 Millions barrels removed out of 56 millions at the time.
With 20% of the oil share being affected today, is it reasonable to expect oil at $500 a barrel?
That resulted in Stagflation back in the 70’s. I think high inflation, high interest rates and high unemployment is what is in store for the US.
The far right party in France is getting popular with removing taxes on gasoline (they represent half the pump price), and reetablish military draft in order to stand with Israel on Iran (boot on the ground) as a result of having ties with the pro genocide party in WW2 back when the party was created in the 1970s.
The point being if this policy results in a hike that can t be offset by taxes (which they continue to claim it won t), then their Middle East policy is pointless.
It is revealing that the go-to solution of the people in charge is to engage in market manipulation and try to solve things with financial tinkering.
These are the tools they are used to deploying, shows you how they carry on behind the scenes.
Unfortunately, it won’t cause any barrels of oil to appear.
Oil Futures manipulation is difficult due to Physical shortage and Shipping costs. The shortage may get reduced as trade and economics [ industrial activity slows down ] especially in West Asia, stagnate and Air Travel gets reduced..
Trump on rising gas prices during Iran operation: ‘If they rise, they rise’
Trump on whether Americans should fear Iran reprisals in US: ‘I guess’
He doesn’t care, as long as he distracts from the Epstein files. What a degenerate pig. Screw all the low information MAGAts that voted for him.
Begum knows nothing
Another Trump fool from the Dakotas
New oil drilling rigs are blooming in Oklahoma due to Trump’s stability. White employment is up 200,000%.
It seems to me that gold and silver were manipulated this week.
I lack proof
Liquidity is needed in many countries by investors as their markets are getting hit far harder than the US.
These two have always been suppressed to keep $ strong.They will not be allowed to rise much.US banks are short on these two to keep them weak,their prices low.
“They will not be allowed to rise much.” The U.S. dollar will eventually be “allowed” to collapse, because they won’t be able to stop it.
Try to find and read “Fiat Money Inflation in France,” by Andrew Dixon White. Great little parable by a great American.
“This war would never have happened if I were president”
LOLz
“I’m taking oil to new levels, prices no one has seen before”
This no War on Iran –by America– may cause a big reframing of MAGA.
MAGA is starting to mean –Making America Get Asskicked — at those Gas Pumps.
We should have a poll: Where will oil top out in 2026? Do I hear $200?
$160
I’m liquidating my oil stocks when oil hits around $150. I’ll probably sell off some at $140, $145, $147, $150. It may go higher but at that point there is a real risk of a global depression or flat out nuclear war. At a bare minimum, riots all over the world.
Who wishes they had a multi-stage exit strategy now?
$150 seems like a good exit point. I exited my paper gold at $5k, no point in getting too greedy…
+1 to try to offset the downvotes-for-god-knows-what-reason
I would take this discussion to prediction markets.
China shut off exports of refined petroleum products….gasoline and diesel. Trump might do a similar thing for the US if prices rise enough. If so the screaming from the petroleum industry lobby will be legendary. Their wartime oops! I meant operation Epstein fury will be enormous
after Joey B depleted the arms and SPR why didnt Donny re-arm and refill first?
Then he couldn’t blame someone? … I dunno. Just spitballing here…
Who knows what the orange moron is really thinking?
-Joe
I suspect that hubris is a symptom of magalomania.
The Epstein class can’t comprehend anyone telling the truth.
Hello, Mr Trump.
Here is my suggestion.
You have only one option left.
ONLY ONE.
RAISE THE WHITE FLAG.
a.k.a
TACO
the sooner the better.
We all know you’re losing.
Iran fell for that during the 12 day war. This time they will seek a more lasting resolution.
He could resign due to “health” reasons or to spend his last years with family. There are any number of excuses to retire.
Trump should check with Greenspam and The Bernack whether there is a hidden formula capable of printing and teleporting barrels of oil.
That’s probably how they justify funding basic scientific research into topics like quantum entanglement: “If we master this, we can teleport barrels from China’s SPR directly into ours!”
“He (Trump) said that the US had several people in mind who could take over Tehran but they have all been killed in US and Israeli air strikes.” source: BBC.
Don’t you just hate it when that happens!
Having no one to negotiate with means this will drag on for 10-20 years, like Afghanistan and Iraq.
the Shahs of Sunset may be available for that role
drat foiled again! The Trump administration says it can’t process tariff refunds because of computer problems
https://www.theverge.com/policy/890904/trump-administration-cbp-tariff-refunds-technology-issues
One thing you have to give taco credit is that his policies have led the economy in only one consistent direction since he took office.
So in a good year the US was adding around $1.5T to its accumulating debt every year so then Trump adds steep tax cuts for the rich, levies tariffs that he now needs to pay back, DOGE was a complete and total failure in bringing costs under control, he then starts a war that will cost $2B a day and will likely bring the economy to its knees due to high oil prices, and screws over his closest trading partners and allies. So what do the bond rating agencies do in a situation like this?
What confidence can they have in the administration at this point to mitigate this massive influx of debt that is coming combined with an obviously slowing economy?
do foreign and domestic lenders continue to lend to a country that is looking more and more like an economic basket case? A basket case that can just say sorry you’ve taken advantage of us for years and we are not paying you back and whadda you gonna do about it?
One might conclude that there is a terrorist in the White House hell bent on destroying America and probably sponsored by Putin.
I mean, If you had a plan to destroy America in 2 years it would look a lot like what Trump has done since being elected in 2024.
Is he really this incompetent? It is hard to believe that stupidity can reach such a high level.
We were stunned in 1981 when the 200 year+ accumulated US debt reached 1 trillion under Ronald Reagan. After that all we heard from our politicians was about the evils of debt and deficits. Now look at us……..
“Ronald Reagan proved deficits don’t matter.” -Asshole Cheney
I remember republicans advocating balanced budgets and term limits, then they became the majority and it all went away. It’s easy to criticize and back bench when you don’t have to actually govern but when the responsibility rests on your shoulders suddenly things change. With trump they became complicit sheep and pedophile protectors. How could anyone vote for or respect any republican today?
Have you talked with any of his voters, who ignored that Donnie repeatedly contradicted himself while campaigning??
Great – so we will wind up with broken/dysfunctional futures markets on top of everything else.
Well it’s already broken for gold and silver. You want real numbers you go to Singapore or Shanghai.
If US loses control of oil, say goodbye to petrodollar and hello to third world status. Some would argue it’s already there.
The US are the richest banana republic.
I think the petrodollar is going to be toast. Iran has just shown that the U.S. cannot defend Arab interests. Why should they continue to provide cover for U.S. bases and deal in dollars when it no longer serves their interests?
Bahrain already tore up their agreement with the US…
Was that before or after their refinery went kaboom?
In Dubai Gold is being sold at a discount to LBMA ,Comex prices due to the aggression on Iran.More sales may follow as Oil Revenue dries up.
President Rapey is going to have to starts wars harder. Operation Epstein Fury is not keeping this out of the headlines: Justice Department publishes documents with sexual assault allegations against Trump https://www.politico.com/news/2026/03/05/donald-trump-epstein-files-allegations-00816123
If he’s losing the war, the regime will throw him under the bus. “It wasn’t institutional — it was just this crazy guy!”
Bigger shock would be finding that prices were’t manipulated already.
Agent Krasnov doing the Lord’s work for his master in Moscow.
Winning!!!!
Suzie Wiles gave CheetoHitler a chart of oil with Dow Jones written across the top….
…in crayon
USA! USA! USA!
It wasn‘t crayon. It was written with a sharpie.
It actually helps price discovery by short-circuiting the formation of positive feedback loops of the oil futures market allowing traders time to take in more complete information but some call it market manipulation.
.
The thing is Iran said this is what they would do – they would attack ferociously and close the strait.
So one would imagine US would have a plan if Iran closed the strait – even if they thought it was worst case scenario – One would typically have a ‘ worst case scenario ‘ plan.
One would imagine the US would immediately react with the plan in hand and ready to execute if the strait were closed.
Meanwhile it appears Trump and Hegseth are winging it. Like they are shocked Iran may close the strait.
Trump comes up with a ‘ new ‘ idea almost daily and I am sure
Everything Trump comes up with sounds great to the followers –
i. we will insure the oil ships,
ii. we will escort the oil ships,
iii. we will control oil price through the futures markets,
But none of those, while they sound good, are likely to work
but meanwhile and again – he did not bother to fill the Strategic Oil Reserves –
. There is No Plan – it is readily apparent there is No US Plan.
Iran should do a JV with the Illinois Toll Road Authority to control the Strait.
I always forget where to place my transponder. Does it go in front of the hull or on the window glass of the superstructure aft?
yeah, sie things there’s not much you can do, civilian ships– it doesn’t take much to make none of them want to go through that if Iran can lob a missile now and again
The Houthis have “closed” the Red Sea route too.
Well, we’re dealing with 5D people here Mish (five dimensions of dumb). I don’t know if you can scale to that level of unintelligibly but you might have to attempt it.
The key is to be as illogical and irrational as possible. For example in the MAGA mind 2+2 = 7 but 7-2 = 12. Go figure.
All hail the red heifer!
The Chief Pedophile of the United States is desperately seeking ways to undo the damage he is causing. Unfortunately the Mossad has those videos so he will be kept on a tight leash.
What Trump is doing is exactly what everyone thinks: take the focus off Epstein files. He is just doing it differently: at this point, does the fact that he may be a child molester even matter if he is in fact destroying the global economy? It’s as if Al Capone was first being investigated for tax fraud, and then they learned he was a mob leader responsible for hundreds of murders…
This was unexpected by the Administration?
Observation difficulties when heads are up Trump’s ass.
It starts with just a kiss, but then they all get sucked in.
The USFR has been doing this to Gold for decades, reportedly.
I meant the fact that oil prices would rise not futures manipulation.
The Federal Reserve can’t manipulate the futures market at least not in a clandestine way. The Treasury could do so through the mechanism of the Exchange Stabilization Fund which is not transparent.
Easily forgotten so much going on
SRO Strategic Oil Reserves
Biden emptied – Trump promised to refill but only about 60 %
So Trump fell down on the job
Wishing he had done that now – they were screaming about war with Iran war with China for a year now – but did very little to prepare for what appears to be the simplest of ideas and easiest of preparation
Get real. You can’t refill what Biden drew down in only one year. For six months Biden sold 1 million barrels each day cutting the reserves in half. Besides Congress did not vote enough money to refill it.
Congress hasn’t voted for any money for this war either, nor Venezuela, nor Cuba.
And hopefully they won’t.
He could have easily done it over 2 years if Congress cooperated. Biden withdrew 180 mb over 180 days which helped bring oil prices down from $120 to $80. He then was able to get Congress to authorize enough money to put back 40 mb. Which was bought at prices below $70. When he asked for more money to add more oil, Congress said no. Since Trump took office over a year ago, he has added exactly 1 mb. Which is a shame because oil was trading between $55 and $65 for much of that time.
Incidentally, China has added 250 mb to their reserves in both 2024 and 2025. They now have 1500 mb in their SPR.
Careful with those facts. The cult is offended!
Facts roll right off that hardened carapace of stupid they all have.
Well, then he shouldn’t have gone off and wrecked the global oil market until it was full, should he have?
The Trumpstien files are coming out, and I guess that forced his hand.
Maybe he should not have wrecked the global oil market.
Trump will threaten his West Asia Oil producers to supply Oil,else…..
Sources Briefed on Iran War Say U.S. Has No Plans for What Comes Next“The administration doesn’t have a clue. They do not have an actual, real rationale, endgame, or plan for the aftermath of this.”
https://theintercept.com/2026/03/05/trump-iran-war-plan-cia/
Keg party at Pete’s?
Nice to see you talking about economics again.
This is economics.
Thank God in these difficult times we have Marco Rubio and Pete Hegseth in charge of our foreign policy. And with Miriam Adelson, Lindsey Graham, John Hagee, Ben Shapiro and Mark Levin acting as their special council of advisors, I really sleep well at night.
Oil surges 35% this week for biggest gain in futures trading history dating back to 1983