Not insurers . . . “customers” who find that paying the sanction fees will be better than “waiting” any longer.
Sort of related…
Sounds like this is a fighter pilot that Trump wouldn’t be a fan of. Nor the inspector general.
What is the pilot’s skin tone?
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Jet fuel crisis hasn’t come yet because of the magic of supply and demand due to price signals.
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Haven’t read this yet, but also so a mention that we appear to be sneaking shipping through the Straight at this point anyway, but have just finally warmed up to the idea that we shouldn’t be so loud about it.
Interesting article. I had wondered why the jet fuel shortage hadn’t materialised as predicted. Did not realize that its production could be shifted so easily.
But at the expense of another petroleum product . . . which wasn’t mentioned what “suffered” as a result.
I’m guessing that it would most likely be diesel and higher octane auto fuel.
The biggest question on everyone’s mind is where oil prices are headed. Many observers have been surprised that Brent crude hasn’t risen more; it averaged around $104 per barrel in May.
But a look at prices in the context of commercial inventories shows there is a clear pattern. The two variables have a very high inverse correlation, and May’s average Brent crude oil price fit the historical trend.
However, as Hamad Hussain at Capital Economics pointed out to Unhedged, if the supply shock continued and commercial inventories continued to fall at about 100mn barrels per month — as they did in April and May — oil prices could average between $130 and $140 per barrel in June, and possibly even higher.
That looks a lot like a Demand Curve.
Israel has attacked Beirut again which means Iran is going to respond by targeting northern Israel and US bases in the region.