Energy

Gulf Shipping Grinds to a Halt Following Houthi Missile Claim

Vessel traffic at the Strait of Hormuz and the Bab el-Mandeb Strait crumbled on Wednesday from the previous day amid a Houthi claim they have hit a Saudi oil tanker in the Red Sea and hopes that Oman and Iran could reach a deal on jointly managing Hormuz. On Wednesday, only two vessels transited the

Source: OilPrice.com

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DW NOTE

The Strait of Hormuz has been open for seven weeks. If this headline refers to a new closure, oil would not be up 2.4% — it would be limit-up. If it refers to residual disruption from the earlier blockade, the headline is stale. Either way, WTI at $77 after falling 33.9% from its annual high suggests markets have already priced in whatever Houthi risk remains.

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

Gulf Shipping Grinds to a Halt Following Houthi Missile Claim

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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