Will Cunliffe
Research Analyst, The Officials
Less than comfortable
Iran is on the offense, Houthis hit Jizan again, China's refined product exports rebounded in July and Libya's close to collapse.
Iran is on the offense, Houthis hit Jizan again, China's refined product exports rebounded in July and Libya's close to collapse.
Brent had been comfortable, lounging in the high-$80s from Tuesday 11 to yesterday evening. But it finally broke above 90 bucks and reached today’s Asian close at $91.23/bbl. It’s no surprise as hopes of peace dissipate once again; Iran is wasting no time in implementing its new offensive strategy. They initially seized the Amara (IMO: 9333280) product tanker near Qeshm yesterday for refusal to pay the toll. It's Iran's first seizure in a month and the first time it's explicitly named non-payment of the toll as grounds for boarding. Worse off is the Minoan Dignity (IMO: 9294484); the UKMTO reported it struck outbound in the strait. Its engine room hit and one seafarer tragically killed. And also note the Houthis whacked Jizan again!
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About Asia Edition
Benchmark reports published at the close of the trading day in Asia.
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