Coalition Of Some of the Willing. The Energy Report 03/16/2026

Oil prices spiked but failed to surpass the recent highs as the US attacked Iran’s oil export lifeblood, Kharg Island, sending a message to what’s left of the Iranian regime that if they hold the Strait of Hormuz hostage, the US has the ability to set back the Iranian economy to the stone age by ending their ability to produce and export oil.

This comes as President Trump is looking to the world to do their part and reopen the Strait of Hormuz, an international waterway that is being threatened by the Iranian regime as an act of economic warfare against the world. He has called on China, Britain, France, Japan, and South Korea to join the United States in safeguarding the vital Strait of Hormuz.

UK Prime Minister Keir Starmer has spoken directly with President Trump about reopening the strait to ensure secure and reliable international shipping. Britain says they take thoughtful steps toward a unified response, exploring innovative options like mine-hunting drones, while remaining prudent about committing warships.

Europe, France and the EU are considering how best to step in, with discussions underway to potentially expand the Aspides mission and rally support from all member nations. Recognizing China’s enormous stake—since about 90% of its oil flows through the strait—Trump has pressed Beijing to play a constructive role, even using the upcoming summit with President Xi as leverage.

While China has not committed militarily, it acknowledges the shared global responsibility for energy security. Meanwhile, both Japan and Australia have addressed the situation transparently, with Japan citing constitutional limits and Australia clarifying that no formal request has been made, yet both remain engaged in the dialogue.

India, though not participating militarily, has shown positive results through direct talks with Tehran, securing safe passage for Indian-flagged tankers.  So, if India can get tankers through, is the fear of the strait closures overpriced in the market. 

In a Fox News interview, President Trump addressed the possibility of U.S. tanker escorts through the Strait of Hormuz, stating, “We would do it if we needed to.” He remained optimistic, noting, “Hopefully things are going to go very well,” but emphasized caution by adding, “We’re going to see what happens on the Strait of Hormuz.” Trump also warned that the U.S. would be, “hitting Iran very hard over the next week,” highlighting the administration’s intent to respond forcefully to any threats in the region.

President Trump is also rallying NATO allies, urging them to support this crucial mission and warning of the alliance’s future stakes. The goal is to build a robust global coalition capable of protecting stranded vessels and calming energy markets, U.S. officials, including Secretary of Energy Chris Wright, remain optimistic as conversations with partners continue and hope grows that China and others will step up as responsible global leaders.

At the same time, we’re starting to see the releases from the International Energy agencies most massive release in history and that’s putting downward pressure on prices, easing some of the concerns about tight supplies in Europe and Asia. As the US dismantles Iran’s military, many believe the regime will soon collapse or surrender.

And reports that Iran has allowed some ships from Iran and China to go through the Strait of Hormuz is raising the possibility that there will be an increase in ship traffic. Iran’s foreign minister Seyed Abbas Araghchi says that,  “The strait of Hormuz is only closed to ‘enemies and those supporting them. If the major players are on to get ships through then the impact of global prices should be a lot less.

Reuters reports that Israel announced detailed plans for at least three more weeks of war, intensifying military strikes across Iran overnight. During this escalation, Iranian drone attacks temporarily shut down Dubai airport and struck a major oil facility in the United Arab Emirates.

The ongoing U.S.-Israeli conflict with Iran has entered its third week, causing the closure of the crucial Strait of Hormuz—through which 20% of the world’s oil and liquefied natural gas are transported. This disruption has contributed to rising oil prices and heightened concerns over a possible surge in global inflation.

The oil market’s inability to take out Friday’s high in today’s higher opening with subsequent reversal is giving hopes that we’ve already seen the highs of this market. Call Phil Flynn 888-264-5665 to get involve. The massive reserve release starts hitting the market, courtesy of EU countries and their buddies stepping up to the pump. We’re talking a whopping 400 million barrels – the biggest emergency drawdown in IEA history – aimed at cooling off the red-hot crude market amid the ongoing chaos in the Middle East with Iran. The US is ponying up 172 million barrels, Japan chipping in 80 million, and EU heavyweights such as Germany and Austria pledging their shares.

White House Press Secretary Karoline Leavitt confirmed the administration is allowing a 30-day waiver of the Jones Act, a 1920 law that requires ships moving cargo between U.S. ports to be built, owned, and crewed by Americans. The plan, aimed squarely at East Coast motorists seeing pain at the pump, is designed to allow foreign-flagged tankers to move gasoline, diesel, and heating oil from the Gulf Coast hub—where supply is currently oversupplied—to the demand-starved Eastern seaboard.

Breaking: The U.S. is permitting Iranian oil tankers to pass through the Strait of Hormuz, according to Treasury Secretary Scott Bessent, who told CNBC the Iranian ships have already been supplying global markets. Despite reduced tanker traffic due to Iran’s attacks on commercial vessels in the Persian Gulf, Iran continues exporting oil via the Strait, even with a strong U.S. Navy presence. The Trump administration expects traffic to increase naturally before offering escorts for commercial ships and currently supports this approach to help ensure the world remains well supplied.

I was surprised when Reuters reported that the heads of a number of top exchanges, including CME Group (CME.O), and Toronto Stock Exchange parent TMX Group (X.TO), oppose what they say in any potential intervention from the U.S. government involving the oil futures market, amid ‌rising energy prices in the aftermath of the Iran conflict.

Again, I think that they’re missing the point of what Treasury Secretary Scott Bessent is proposing. Treasury Secretary Bessent is acknowledging that the release from the Strategic Petroleum Reserve may not be needed, and the possibility of using the futures market to forward sell their position is nothing more than a government hedge. Besides, if you consider the fact that the U.S. military is one of the world’s biggest consumers of energy, why would we want to discourage the government’s use of the futures markets to help out U.S. taxpayers? In fact, according to one report, the U.S. military consumes about 270,000 barrels per day. If this were a separate country, this consumption level would place it around the 45th biggest country in the world. We would be consuming more energy than Sweden or Ecuador, and this puts us ahead of countries like Qatar, Bangladesh, and Peru, but below Morocco and Greece.

Besides, governments intervene in the oil market all the time. OPEC, of course, considers themselves to be the central bank of oil by raising and lowering production to get prices to a point where they like them. Why shouldn’t the U.S. be able to use the futures market to counteract some of that manipulation by the OPEC cartel, or at least use it as a hedge for U.S. taxpayers?

The futures markets are used by banks for interest rate futures, where the government obviously has a major impact on those markets. Also, of course, the U.S. government gets involved with many commodities with farm subsidies and cattle subsidies, which benefit some of the major customers of the commodity exchanges.

So instead of discouraging the US government from the futures market I would be encouraging the use as I think that that would be a good example to show the world how to hedge risk especially by one of the biggest consumers in the world! And if Treasury Secretary Bessent needs an extra account to get some of those trades done, I would be more than happy to help him out. Give me a call!! Phil Flynn 888-264-5665.

Natural gas prices are getting a little bit of a balance due to this wickedly cold weather it’s unbelievable. Fox Weather reported that, “A life-threatening situation is unfolding as a monstrous blizzard bomb cyclone is rapidly intensifying and unleashing extreme feet of snow and vicious wind gusts throughout the Midwest and Great Lakes. Snow started across portions of the Northern Tier and then charged east into the Great Lakes. The blizzard dropped feet of snow and has created long-lasting impacts into the start of this week, halting travel at major Midwest hubs as the storm caused impossible driving conditions.

High winds will likely knock out power, just days after a major windstorm occurred, knocking out power to over one million Americans. As of 10:15 p.m., over 414,000 power outages have been reported across the country, according to poweroutage.us.

Download the Fox Weather ap to keep up with the Blizzard Bomb and Stay tuned to the Fox Business Network Invested in you! Call to open your account! Scott are you listening 😊 call 888-264-5665 or email me pflynn@pricegroup.com.