A Chinese-owned oil tanker being hit near the Strait of Hormuz has turned an already dangerous US-Iran crisis into a much bigger global concern. Until now, many countries were watching the conflict mainly through the lens of oil prices, shipping delays and military escalation. But when a China-linked vessel is reportedly attacked near one of … Read more
ADNOC’s Hormuz workaround matters because it shows how badly oil buyers want alternatives to one of the world’s most dangerous shipping chokepoints. Reuters reported that Abu Dhabi National Oil Company has told some clients they can choose to load Das and Upper Zakum crude outside the Arabian Gulf, instead of relying only on routes that … Read more
The Strait of Hormuz matters because it is not just another shipping lane. It is one of the world’s most important energy chokepoints, and any disruption there quickly hits oil prices, freight costs, factory input prices, and inflation expectations. Reuters reported this week that around 20% of global oil and LNG transport is tied to … Read more