Hormuz Stalemate Raises Risk of $120 Oil
Hormuz Stalemate Raises Risk of $120 Oil
Source: Oilprice.com
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DW NOTE
The Strait has been closed since February. Two thousand ships are stranded. Only one has moved in days. The world is pricing this as if reopening is imminent. It isn't. Six months to clear mines means six months without 20% of global oil supply moving through its normal route. $120 isn't a risk scenario — it's the optimistic case if inventories hold and no one panics.