Iran Is Attacking a Crucial Oil-Market Lifeline: Shuttle Runs - WSJ

Source: WSJ

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DW NOTE

The shuttle run — where buyers can't take physical delivery so tankers circle between terminals and storage hubs to keep paper markets functioning — is how you know the route is too dangerous to use normally. Iran isn't just disrupting flows through the Strait of Hormuz, it's forcing traders to price in permanent dislocation. WTI is up 14% in a week but still 29% below its 2026 high because the market knows this ends either in capitulation or escalation, and neither one prints at $80.

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