Will Cunliffe
Research Analyst, The Officials
Third time’s the charm!
Chaos reigns! Stop outs and cancelled cargoes, the bombing broadens across the region...
Chaos reigns! Stop outs and cancelled cargoes, the bombing broadens across the region...
Trump's third war of choice against Iran is costing the world $1.2 bil per day as oil prices have risen roughly $11/bbl since Friday's close. Prices were on a downtrend but quickly reversed as Trump abrogated the MoU, called the Iranians names, who in turn closed the Strait and have bombed three vessels transiting in the non-approved track. Trump, not to be outdone wants to turn the mess into a business and wants to charge $40 mil per VLCC. He also expects to be paid protection money by the Gulf countries. Since Iran is bombing its neighbours daily nowadays, there is demonstrably no protection, so the US racket will not cost much, we presume. Every day that passes and prices rise only accelerates the cost.
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