Two Supertankers Hit by Unknown Projectiles in Strait of Hormuz
Two oil supertankers have been hit by unknown projectiles while transiting the Strait of Hormuz outbound from the Persian Gulf, maritime risk management firm Marisks said on Tuesday, as tensions in the Middle East flared up again this week and put the tentative oil flow recovery at risk. The Sidr ve
Source: OilPrice.com
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DW NOTE
The Strait has been effectively closed since February, with 2,000 ships stranded and a 6 million barrel per day supply shortage already priced in. Two more tanker strikes change nothing about the blockade — they confirm it remains active after the August resumption of hostilities. WTI is down 24% from its yearly high because demand destruction is outpacing even a supply crisis of this magnitude.