A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group.
A closure of the Strait of Hormuz through August raises the risk of an economic downturn that comes close to the scale of the Great Recession in 2008, according to Rapidan Energy Group.
Tankers anchored in the Strait of Hormuz, in a photo from Iran’s ISNA news agency on May 2. Photographer: Amirhossein Khorgooei/AFP/Getty Images
Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year, as demand is forced to slow down to counter millions of barrels of supply losses caused by the US-Iran war.
Oil market participants are increasingly pricing crude to be capped near $100 a barrel over the next year, as demand is forced to slow down to counter millions of barrels of supply losses caused by the US-Iran war.
Storage tanks at the Shell Haven aviation fuel terminal near Stanford-le-Hope, UK. Photographer: Chris Ratcliffe/Bloomberg
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