Ryan Adams

This week, things were kind of going smoothly-ish.

It seems like we could start to see the end of the war.

Things were starting to stabilize.

And then it all fell apart with an Israeli strike on an Iranian oil facility in the South Pars gas field.

I'm sure everyone knows exactly where South Pars was before this week.

Here it is on a map.

I see it.

It looks like it's in the middle of some water, though.

It is in the middle of the water.

These are like...

structures that are in the middle of the ocean.

Ocean?

Is that an ocean?

In the middle of the Persian Gulf.

And then there's an oil field down there.

Israel struck it, taking down some of the capacity of the Iranian oil field there.

And then as a result, we have seen a divergence in oil prices based off of where you are.

So Brent crude, which is the oil that predominantly comes out of the Persian Gulf, spiked from $102 to $112.

This is also what I left out is in response to this Israeli strike on Iranian oil facilities, there was an Iranian strike on Qatari oil facilities in response.

So Iran was like, you guys are going to strike us?