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Jack Prandelli
@jackprandelli
Daily Insights on Global Commodities Markets and Events | Commodity Trader | Founder of The Merchant (40k+ subs) 3x/week โ†’
๊ฐ€์ž… August 2024
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๐Ÿ‡ธ๐Ÿ‡ฆSaudi Arabia's oil has exactly 2 ways out right now both are compromised... East via Hormuz: Ras Tanura โ†’ strait โ†’ ship-to-ship transfer โ†’ Malacca โ†’ Asia. 3,370nm 10 days. Fast, but running through the exact chokepoint that's been disrupted since February. West via Red Sea: Yanbu โ†’ partial pipeline discharge โ†’ Sidi Kerir โ†’ around the Cape of Good Hope โ†’ Asia. 29+ days. Nearly triple the distance because Bab al-Mandeb is also blocked, forcing a full Africa detour instead of the Suez shortcut. Both of Saudi's coastal export options are compromised at once that's the real story here, not just Hormuz. image source:AlJaazera
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