Oil Crisis Has Moved From Crude Supply to Delivery and Refining
10 Articles
10 Articles
Oil Is Flowing From Hormuz Again—Just Not Diesel
“Ships are ferrying almost as much crude oil out of the Strait of Hormuz as they were before the Iran war. But they are barely moving any barrels of the fuel the world needs most: diesel,” the Wall Street Journal reports. “For now, the distinction is paramount in American politics. President Trump’s team has explored […]
The diesel crisis is no longer associated with the shortage of raw materials, but rather with the decline of refined supplies and the scarcity of refining capacity, which increases transport, agriculture, construction and food costs and fuels global inflation.
Wall Street Journal
BizTocOil Is Flowing From Hormuz Again—Just Not the Kind the World Needs Most
The Wall Street Journal reports that crude oil is once again moving through the Strait of Hormuz, but the world is still facing a severe diesel shortage. As a result, the recovery in oil exports has failed to bring down fuel prices.
There is again enough crude oil on the world market, but there is still a shortage of fuels made from it. While the resumption of shipping through the Strait of Hormuz has increased supplies worldwide, some Middle Eastern refineries remain out of service. This is most noticeable in diesel, whose price in the US has been at record levels in recent weeks.
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