Post by
spurwing2 on Oct 15, 2024 9:01am
Red Sea Oil tanker traffic has dropped by 50%:
https://finance.yahoo.com/news/red-sea-oil-tanker-traffic-111216084.html
Comment by
Frank007 on Oct 15, 2024 9:08am
Also none at the oil terminals in Iran ...can,t imagine what the insurance must cost ...!
Comment by
Realdude on Oct 15, 2024 9:01pm
That's a lie. There is a massive shadow fleet. There are zero sanctions. Oil is flowing like crazy from Russia, Iran, Iraq etc...
Comment by
Kelvin on Oct 15, 2024 9:11pm
Yes Realdude, The oil has to be flowing quite abundantly with prices falling and year-on-year global demand increasing at an estimated 1.93 million barrels per day. In the face of such robust demand growth, for prices to be falling, it can only mean that year-on-year supply growth must be greater than demand growth. Someone is pumping a lot of oil.