Does anyone remember The Bedford Incident?

 "If they fire one, we'll fire one".

With the United States blockading all supply coming in to Iran and seizing some vessels, there are roughly 100 container ships trapped in the Persian Gulf from which Iran can choose anytime it wishes to go shopping. 

Iran says it has seized two ships in Strait of Hormuz after U.S. extends ceasefire

Iran’s navy on Wednesday said it had seized two container ships in the strategically vital Strait of Hormuz, shortly after the U.S. extended the ceasefire and as diplomats seek to bring the countries together for peace talks.

Iran’s Revolutionary Guard Navy said in a statement that it had seized the ships for what it claimed were maritime violations and transferred them to Iranian shores, according to state media. CNBC could not independently verify the claim.

The announcement came after U.K. maritime authorities said two ships had been attacked in the Strait of Hormuz. Iranian media reported a third vessel had also been targeted by the country’s military. ...

 

Dumbass Trump, who never paid the slightest attention to what's been happening in and to Ukraine, is surprised how easily Iran shut down the Strait of Hormuz with drones

 

The Wall Street Journal, here:

... The strait has been a particular source of frustration. Before the U.S. went to war, Trump told his team that Iran’s government would likely capitulate before closing the strait, and that even if Tehran tried, the U.S. military could handle it, The Wall Street Journal has reported. Some of the president’s advisers were caught off guard that tanker traffic would grind to a halt so quickly after the bombing began, according to a person in contact with the White House. 

Trump has since marveled at the ease with which the strait was closed. A guy with a drone can shut it down, Trump has said to people, expressing belated irritation that the key waterway was so vulnerable. He has publicly oscillated between demanding support from allies to help open it and insisting that the U.S. doesn’t need or want military assistance. ... 

White House concerns about security threats have been heightened, aides said.

In recent weeks, for example, Trump and his team have noticed an increase in security. On a cloudless night in April at Mar-a-Lago, every umbrella was up on the patio in an unusual arrangement, guests said. Club members were told that there was an effort to limit drone visibility, a Mar-a-Lago member said. 

Rubio told others about standing outside his home at the military compound where he lives and watching a suspicious drone, administration officials said. Secret Service protection teams have expanded to carry weapons White House officials had never seen before. ...

 

Buffoon says what?

 

Trump says U.S. has ‘good news’ on Iran as Tehran says the Strait of Hormuz is closed again

... Ghalibaf, quickly disputed Trump’s claim that Tehran had cleared the strait for transit.

“With the continuation of the blockade, the Strait of Hormuz will not remain open,” Ghalibaf wrote in a translated X post.

Indeed, video footage from ship tracking firm Kpler shows a number of tankers and cargo ships did try to exit the waterway on Friday, but turned back.

 “They’ve clearly not been given approval to pass through,” Matt Smith, director of commodity research at Kpler, told CNBC. ...

Nothing but lies

 

It's not

 Video shows ships turning away from Strait of Hormuz as confusion persists over whether sea lane is really open

Published last night at 2040:

U.S. oil price plunges below $84 as Iran declares Strait of Hormuz open, easing supply fears  

Published at 0900 this morning:

Iran declares Strait of Hormuz open to shipping but Trump says U.S. blockade still active  

The Joint Maritime Information Center Update 033 for the Strait of Hormuz April 16 2026 15:56 hours includes 2 full days of the Iran blockade April 14-15

  

"Historically average daily transit through the Strait of Hormuz is approximately 138 vessels per day."

 

Transit Average April 9-15 Strait of Hormuz: 5.1 vessels per day

 

 

 

Buckle up

 

Gold is up 9.9323% YTD, silver 5.9767%

Silver and gold had a good week: 

Silver: $76.60 USD +$4.04 USD +5.57% 1W

Gold: $4,764.80 USD +$112.50 USD +2.42% 1W.

Silver was $72.28 on Jan 1, gold was $4,334.30.

Prices are per APMEX, where the 3M and YTD results just happen to be nearly identical as of April 12th, indicating more stability actually Mar 31 to Apr 12.

The war in Iran has been net negative for both gold and silver in the last 30 days, however, as oil prices rose in a volatile manner, which is where all the betting action went. Gold was down over 7% and silver over 10% in the last 30 days.

The blockade of Iran is likely to cause oil prices to spike much more this week, and precious metals to fade, but you never know from day to day with you know who in charge.

Stackers of precious metals will view future price drops as buying opportunities.

Trump cuts off the flow of Iranian oil with blockade of the Strait of Hormuz, about 1.5 million barrels per day, China most hurt

 Trump says U.S. will blockade Strait of Hormuz after Iran peace talks fail

 Iran sends millions of oil barrels to China through Strait of Hormuz even as war chokes the waterway

 

Iran controls the Strait of Hormuz, selectively allows a trickle of ships to pass

Traffic is trickling through Strait of Hormuz: Who’s moving through and who’s still stranded

 

... The blockade has squeezed shipping traffic to a trickle, with just 21 tankers transiting the route since the war began on Feb. 28, according to S&P Global Market Intelligence, compared to more than 100 ships daily before the conflict. ... Iran has continued to ship millions of barrels of crude oil to China since the war began. ... From March 1 to March 15, a total of 11 China-linked vessels transited through the Strait of Hormuz, according to Lloyd’s List Intelligence, mostly general cargo ships ...