Energy

Iran-aligned Houthis claim they attacked oil refinery in Saudi Arabia - The Guardian

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DW NOTE

The Houthis have struck Saudi oil infrastructure while 2,000 ships sit stranded in the Gulf and the U.S. scrambles to broker a Hormuz reopening. WTI is at $78 — down 31% from its annual high — because traders have priced in either a swift resolution or a demand collapse severe enough to offset 20% of global crude flows going offline. One of those assumptions will be proven badly wrong.

Read the full story at The Guardian →

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

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Iran-aligned Houthis claim they attacked oil refinery in Saudi Arabia - The Guardian

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