Energy

Every Chokepoint That Isn't Hormuz

For six months the entire conversation about oil logistics has been about one strait, and you can hardly blame anyone for that. Hormuz has been effectively closed since late February, when the war between Iran and the U.S. and Israel started, and the EIA reckons only 4.9 million barrels a day of cru

Source: OilPrice.com

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DW NOTE

The Strait of Hormuz is effectively closed — one transit per month versus the usual 73 per day — and oil has fallen 20% from its recent highs. Every article fretting over Bab el-Mandeb or Malacca is a deflection from the fact that the market no longer believes the closure matters.

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The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

Every Chokepoint That Isn't Hormuz

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