"Three supertankers slipped through the Strait of Hormuz last Saturday, each carrying up to two million barrels of oil. That trickle is all that passed during the ceasefire window."
"Before the war began, more than 100 vessels made the trip daily. The gap between those two numbers is what is causing spot oil prices to be at nearly $130."
"The United States Oil Fund (USO) gives equity investors direct exposure to crude oil through front-month WTI futures contracts. It holds paper claims on oil that has not yet been delivered."
"The 2026 Iran war began on February 28 when the U.S. and Israel struck Iran. Iran effectively shut the Strait of Hormuz, through which ~20% of global oil supplies had been flowing."
Three supertankers passed through the Strait of Hormuz, carrying up to two million barrels of oil each, during a ceasefire. Before the conflict, over 100 vessels made the trip daily. This drastic reduction has led to spot oil prices nearing $130, despite lower futures prices. The United States Oil Fund (USO) provides investors with exposure to crude oil through near-month WTI futures contracts, managing approximately $2.6 billion in assets. The geopolitical backdrop includes the Iran war, which has disrupted oil supply routes significantly.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]