The Calm Is Borrowed
The Calm Is Borrowed | ParleyBot Ro-Bob's Blob ParleyBot Intelligence · Ro-Bob's Blob · Daily · Day 138 · The Buffer Runs Out · Thursday 16 July 2026 · Analysis The Calm Is Borrowed Brent sits near $86, up about fifteen per cent since the war reignited but a long way from March's $120, and to a casual eye the market looks almost orderly. It is not orderly. It is anaesthetised — running on the emergency oil the world already burned to survive the first Hormuz shock. The International Monetary Fund said this week that the reserves and spare capacity that absorbed March's spike are largely spent, which means the reason today's blockade looks cheap is that the cushion under it is nearly gone. Meanwhile the strikes have begun falling in daylight, the dead are being counted in the dozens, and the President has scheduled the energy targets for "last." The price is calm. The conditions beneath it are the opposite. Robby Mille...