Hormuz Is Turning Shipping’s Fuel Bill Into a Supply Crisis
The Hormuz crisis is not only hitting crude oil and gas, but also container shipping. It is also tightening its grip on global shipping through the fuel tanks of vessels carrying world trade. Disrupted exports, constrained refinery supplies, and increasingly unreliable deliveries are clearly at pres
Source: OilPrice.com
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DW NOTE
WTI at $101 and Brent at $108 with the strait seven days closed and tankers still being hit off Qatar tells you the market doesn't believe the IEA's 5.7 million barrel shortfall. It's pricing a ceasefire within weeks, not months. If that proves wrong, these levels will look quaint.