Maintenance in progress

the strait of hormuz and bab el-mandeb — the two narrow sea passages through which most gulf oil leaves for the world — are simultaneously effectively closed to tanker traffic, with saudi cargoes rerouted to india and bab el-mandeb transits falling from 28 vessels on friday to 18 on sunday. at the same time oil prices fell five percent to roughly $81 per barrel because trump announced a pause on strikes against iran. physical supply is being strangled and the price is going down; those two facts do not normally sit together.

maritime tracking and wire coverage, gulf and red sea