Tankers: Is an Oil Shortage Already Underway?

AI Summary

Tanker rates have surged amid signs of oil shortages linked to the closure of the Strait of Hormuz and disruptions to infrastructure used to bypass it. These developments are intensifying pressure on Middle Eastern energy flows, impacting global oil shipping.

With rates for tankers skyrocketing and the first signs of shortages in various parts of the world, it’s obvious that pressures are mounting from the Hormuz closure. In its latest weekly report, shipbroker Intermodal said that “the pressure on Middle Eastern energy flows has intensified further, as disruption expands to infrastructure used to bypass Hormuz, ...