Iran’s Floating Oil Hoard Swells
Video Overview & Insights
Bloomberg Intelligence Senior Commodity Strategist Mike McGlone says the oil fluctuations are part of a "normal cycle"
Is the strait really open?
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington.
More than 20 million barrels of Iranian crude have been idling in Asian waters for at least seven days, up nearly 18% from a week earlier, according to Kpler Ltd. Estimates for the overall volume of the country’s oil on water — either in transit or stationary — have ranged from 58 million to 68 million barrels since the US sanctions waiver kicked in last week, according to data from Vortexa and Bloomberg calculations.
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total bs
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You’re delusional if you believe this guy. Ship traffic through Hormuz is still less than 1/3 of what it was before the war. Global oil reserves will runout within 1 month. Without significant demand destruction, oil prices in August will be $80 or above!
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Only way to get this is demand destruction ie recession. But they don't want to say it.
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This guy doesn't tell you any details on why supply increase. He could have mention Iran can't stop uae dark fleet.
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you don't have a clue what your talking about
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Oil to the moon by the end of August at latest.
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haha righhttt
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