Post #35197

🚫🛢 A major supply shock in the oil industry is rapidly escalating. The closure of the Strait of Hormuz has resulted in a loss of about 2 billion barrels, amounting to 5% of the world's annual supply. Each day of the blockade adds another 14 million barrels to the deficit. Peace talks between the US and Iran have stalled, making the reopening of the strait a distant prospect. The global oil market is expected to face turmoil soon — The Economist . mt в max