HORMUZ SHIPPING SLUMPS AS ENERGY MARKETS TIGHTEN Commercial vessel traffic through the Strait of Hormuz fell 19% last week, with daily cros…
HORMUZ SHIPPING SLUMPS AS ENERGY MARKETS TIGHTEN
Commercial vessel traffic through the Strait of Hormuz fell 19% last week, with daily crossings dropping to 25 from 120 before the conflict.
Freight rates declined but remain nearly double pre-conflict levels.
Meanwhile, refinery damage has tightened fuel supplies, boosting refining margins and petrochemical profits, while global crude inventories continue to fall.
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