🇮🇷 Roughly 1 in 20 ships crossing Hormuz are getting hit... and the oil still pays enough to cover a lost tanker.
Rory Johnston says that in March and April, oil on one side of the strait was worth over $100 a barrel more than on the other, which eventually pulled in smugglers and dark transits.
The margins are thinner now but still cover the worst case:
"If you're making $20, $30 a barrel on shipping through the strait, you can lose a ship and you can still make money."
The catch is the world is running out of tankers to lose, so the crisis keeps hopping from crude to diesel to shipping.
@Rory_Johnston
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CheemoT @AmithaHirsch ·
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@MarioNawfal Not if they use shipnto ship♟️ 🗿








































































