Oil Still Doesn't Appear to Be Flowing Through the Strait as It Was, Says ClearView's Kevin Book
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14 Articles
Oil still doesn't appear to be flowing through the Strait as it was, says ClearView's Kevin Book
Kevin Book, ClearView Energy Partners managing director, joins 'Squawk Box' to discuss the state of the energy markets, impact of the U.S.-Iran war on oil prices, and more.
‘Dark’ oil trade still flowing despite Hormuz disruption – Bloomberg
Tankers sailing with transponders off are reportedly helping prevent a sharper oil-price surge by moving crude through the disrupted strait Gulf states are covertly shipping oil through the Strait of Hormuz on tankers with their transponders switched off despite severe disruptions to normal traffic and intermittent attacks, Bloomberg reported on Sunday, citing people familiar with...
Oil exporters from the Middle East have established clandestine shipments through the Strait of Ormuz, writing Bloomberg, which, along with other measures, help keep world oil prices at $80-90 per barrel, notes the publication.
Secret transportation of oil through the Strait of Hormuz restrains the rise of world prices - BloombergSecret oil deliveries through the Strait of Hormuz continue, volumes exceeding 4 million barrels per day. This restrains the rise in prices of Brent, which stay in the range of $80-90 per barrel.
As global tensions escalated, Brent crude oil prices surged above $90 per barrel, energizing markets. The shipping crisis in the Strait of Hormuz and the increased risk of war in the Middle East drove oil prices higher.
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