"Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran’s fiercest waves of attacks in the Strait of Hormuz."
The Wall Street Journal
Persian Gulf oil exports have surpassed prewar levels, as an improvised shipping system under U.S. protection is helping tankers move oil through one of Iran’s fiercest waves of attacks in the Strait of Hormuz.
Persian Gulf oil producers are paying up to $40M for tanker "shuttle runs" through Hormuz, WSJ reports.
Some sailors are being offered up to $25K per trip.
VLCC charter rates from the Gulf to China recently topped $1.2M a day, up from about $231K before the war.
Persian Gulf oil producers are shifting critical cargo transfer operations even farther out of the war-hit region as waters just outside the Strait of Hormuz become congested with tankers
Persian Gulf states and Russia grabbed huge shares of the diesel market over the past decade. Now, war in both regions has sent exports plunging, squeezing the global economy
Persian Gulf oil flows... Imo numbers look pretty damn close to the ground truth, and sharp tanker trackers are printing similar prints.
Though obviously desks might have to recalibrate Yanbu runs in the models pretty soon :)
#oott# #iran#
PERSIAN GULF STATES ARE ACCELERATING BILLIONS OF DOLLARS IN INVESTMENT IN PORTS, PIPELINES AND RAILWAYS TO REDUCE THEIR DEPENDENCE ON THE STRAIT OF HORMUZ AFTER MONTHS OF DISRUPTION DURING THE IRAN WAR, REUTERS REPORTED FRIDAY.