>>2938507premiums increase. tankers insurance companies charging more for the dubai oil and general arabian peninsula oil shipping logistics. if you see the dubai oil price with a margin below the brent with a difference above the 5USD, that's your clue.
Arabian oil companies are trying to sell the oil way cheaper to offset the increased logistic costs. And yet, with the logistics costs too high, oil-addicted industries, like refineries, decide to buy brent instead, given the risks they face and the uncertainty with shipments going through the strait.
absolutely funny shit, tbh. because leaving hormuz there could be 100 mb/d and that still won't do shit to lower the oil prices. fun shit, indeed.
add that the renewed news coming out about the us tapping more of its strategic petroleum reserves, and the pictures is perfect.
and that's the futures.
I can't imagine how spot oil costs, but it must be some crazy shit.
oh, diesel prices will skyrocket for funsies.
one thing. don't stock fuels, if any of you are planning to hoard. they have short expiration dates.
gasoline lasts 3 months and starts to deteriorate, causing harm to your car's engine. some even have shorter spans, 30 days top.
diesel it's a bit more stable, but after 6 months I'd say, don't.