Saudi Aramco
Beyond the Strait: 30-40% of Gulf Refining Capacity Is Already Gone
The Market Is Watching the Wrong Number Brent crude hit $105.73 on Friday. Everyone is tracking the Strait of Hormuz. Nobody is talking about what is already broken. The ceasefire is holding. Just. The US naval blockade of Iranian ports is still active. Iran is still seizing ships. Both sides are using economic strangulation as…
$100 Brent Crude? The Math Behind Goldman Sachs’ Four-Week Oil Disruption Forecast
U.S. and Israeli strikes on Iran on February 28 under Operation Epic Fury have resulted in a near-total commercial shutdown of the Strait of Hormuz. Approximately 20 million barrels per day, or about 20 percent of global petroleum liquids supply, normally transit the strait. As of March 4, tanker traffic through the corridor is down…
