QCP Capital: Hormuz talks stalled, Houthi conflict widening, tanker flows near zero with 3.7-13M bpd still transiting

QCP Capital's Oct 22 macro report says Hormuz negotiations are stalled and Saudi-Houthi conflict is widening, but tanker physical flows are near zero with dark-fleet estimates showing 3.7-13 million bpd still transiting the strait. The US Strategic Petroleum Reserve is down 30.5% year-on-year to 283 million barrels.

Detected & updated continuously · Source: Nebula