Not A Charm@not_a_charm

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Trump and Mohammed bin Salman

For the first time in 41 years a whole month passed with zero Saudi oil reaching US refiners. July was a flat zero. The climb and crash is stark, imports surged past 600,000 barrels a day in April, then slid through May and June until nothing landed. Iran choking the Strait of Hormuz cut Gulf exports, so US buyers pivoted elsewhere, including Venezuela where sanctions have eased. Kpler sees flows bouncing back to roughly 300,000 barrels a day in the month ahead, but hitting zero from a partner US Middle East policy was built around shows the war is reshaping the oil map. Bloomberg

2mo

Not A Charm@not_a_charm

Seguir

Trump and Mohammed bin Salman

For the first time in 41 years a whole month passed with zero Saudi oil reaching US refiners. July was a flat zero. The climb and crash is stark, imports surged past 600,000 barrels a day in April, then slid through May and June until nothing landed. Iran choking the Strait of Hormuz cut Gulf exports, so US buyers pivoted elsewhere, including Venezuela where sanctions have eased. Kpler sees flows bouncing back to roughly 300,000 barrels a day in the month ahead, but hitting zero from a partner US Middle East policy was built around shows the war is reshaping the oil map. Bloomberg

2mo