Strait of Hormuz oil throughput collapses 77% to 4.9M barrels per day as Brent rises 8%
Strait of Hormuz oil throughput has collapsed to 4.9 million barrels per day from 21.6 million before the war, a 77% drop, with only six commodity vessels transiting Wednesday against a 10-day average of nearly 13. Brent crude reached $96.28, up 8% for the week, while US Energy Secretary Chris Wright said US Navy escorts helping tankers cross the strait are essential to sustaining crude flows and won't end anytime soon.
Detected & updated continuously · Source: Nebula
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@BullishMarktCap
OIL: Hormuz throughput has collapsed to 4.9M barrels a day from 21.6M before the war, a 77% drop, with just six commodity vessels transiting Wednesday against a 10-day average of nearly 13. 📈 Brent is at $96.28, up 8% this week, as Japan's Mitsui O.S.K. Lines — the world's https://t.co/TWSMe4RcYB
@business
US Navy escorts that are helping tankers cross the Strait of Hormuz are essential to sustaining crude flows through the waterway, Energy Secretary Chris Wright said Sunday, suggesting they won’t end anytime soon. https://t.co/puset4Znn5
@HealthRanger
We are facing a serious DIESEL CRISIS that was just made far worse by the U.S. and Iran strikes on tankers in the Persian Gulf. The world's economies are going to burn, and the diesel crack spread is going to skyrocket beyond $120 / barrel before long. Food inflation is going to https://t.co/5mLRsZCwIO