Big Win for Trump: Gulf Oil Shipments and Experts Are Coming Back to Pre Iran War Levels But the Problems Keep Growing
Shipping firms now pay $1.4 million daily for tanker transport, a 12-fold increase caused by regional maritime security challenges, Reuters reported.
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Trump's War on Iran Has Broken the Oil Market - CleanTechnica
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Big Win for Trump: Gulf Oil Shipments and Experts Are Coming Back to Pre Iran War Levels But the Problems Keep Growing
Gulf oil exports have climbed back above prewar levels in some cases, Kpler data shows, but moving crude out of the region remains costly and risky. Tankers are bypassing Hormuz or handing off cargoes, freight and insurance costs have soared, and Brent hit its highest level since early May on Friday.
US President Donald Trump confirmed that oil prices would fall further once the war with Iran ended, pointing out that Washington had to move to prevent Tehran from possessing a nuclear weapon. Tramp explained that the amount of oil that crossed the Strait of Hormuz last week exceeded any previous period, including the pre-war period.
US President Trump has harshly accused Iran of repeatedly spreading disinformation and engaging in deceptive tactics. Nevertheless, oil exports from the Middle East are exceeding pre-war levels. Meanwhile, reports that the will of the late Supreme Leader Khamenei was destroyed continue to cause controversy.
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