Give peace a chance. Wishful thinking? While both optimists and pessimists contribute to society, it's difficult to dispute the fact that optimists are more likely to drive positive change and improve the world. Taking in all of the recent global headlines is not unlike trying to swallow glass without a beer chaser. But, there is always hope. Remember when China trade talks were front and center on the newsreel? Seems like ancient history now. 

Speaking of China, that country is one of the largest buyers of Iranian oil, so they clearly have an interest in seeing things in the Middle East resolve quickly.  In March 2025, China's imports of Iranian crude oil reached 1.91 million barrels per day.  Around 12 million barrels per day of crude oil pass through the Strait of Hormuz, with Asia as the primary delivery site…if you add in refined products, the total volume is 20 million barrels per day. Kharg Island is a small island in the Persian Gulf and is the key port that exports Iranian crude oil. About 90% of Iran's oil exports emanate from the Kharg's terminal complex. Right now the relatively muted oil price response to the ongoing missile barrage is a result of some optimism that oil flows will continue and international mediation will follow. The initial bump up in price was fueled by speculation, but so far oil supplies have not been choked off.  However, if either or both of these critical components are compromised, the impact on oil prices will be real and very significant. Who is willing to make a prediction? Step right up to the craps table and roll that dice.

Much to the delight of the Birkenstock crowd, news came out Friday that, after months of debate, the EPA proposed total biofuel blending volumes of 24.0 billion gallons in 2026 and 24.5 billion gallons in 2027, up from 22.3 billion gallons in 2025.  Combined with measures to restrict biofuels imports, producers were lighting up cornhusks in celebration and soybean farmers were gleeful that they no longer have to rely on sales of sushi. Soybean futures prices jumped on the news. The EPA is expected to finalize RVOs in the fall. If you’re ready to get back in the biofuels game, The Tank Tiger is itching to show you the renewables storage tanks that we’re offering right now.

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IMTT'S COO Shaun Revere Joins to Discuss the current Terminal Landscape