""Over the coming months, this is going to unfortunately deteriorate badly. We're locked into that.""
""In this case, we can be sure that the next two months is going to be an ongoing, absolute disaster even if you open the straits tomorrow because it's just locked in by virtue of tankers, and the tankers are all in the wrong places.""
""The inventory numbers have started to get scary, and any follow-on releases will get increasingly more difficult to stomach as the tanks get emptier.""
Oil futures are currently misaligned with the physical market, as highlighted by a top analyst. The closure of the Strait of Hormuz has severely limited new oil supplies, forcing countries to deplete their reserves. The situation is expected to worsen over the next two months, regardless of any potential reopening of the straits. Analysts are particularly concerned about supply chain disruptions affecting jet fuel and chipmaking solvents. The available oil volume for global markets is less than reported, indicating a looming crisis.
Read at Fortune
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