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Oil Surges on Trump Iran Blockade Move
Brent crude $BZ jumped over 9% to $86.57/barrel after Trump reimposed a Strait of Hormuz blockade on Iran and proposed a 20% toll on passing cargo, as the #US-IranTalks ceasefire unravels.
#Goldman.Sachs $GS.US notes new pipelines and ports (UAE West-East, Iraq Basra-Haditha, and a planned UAE facility) could shield 45%+ of Gulf exports from #HormuzRisk by end-2025 (60%+ by 2028).
Still, 7-9M bpd of crude/products remain exposed, with Qatar LNG having no viable alternative.
#TrumpMeetsOnWiderIranOffensive
Brent crude $BZ jumped over 9% to $86.57/barrel after Trump reimposed a Strait of Hormuz blockade on Iran and proposed a 20% toll on passing cargo, as the #US-IranTalks ceasefire unravels.
#Goldman.Sachs $GS.US notes new pipelines and ports (UAE West-East, Iraq Basra-Haditha, and a planned UAE facility) could shield 45%+ of Gulf exports from #HormuzRisk by end-2025 (60%+ by 2028).
Still, 7-9M bpd of crude/products remain exposed, with Qatar LNG having no viable alternative.
#TrumpMeetsOnWiderIranOffensive
BZ+1.54%
GSUS-0.40%
Anna love BNB:
Not great timing for anyone holding short positions on oil. That blockade news came out of nowhere and caught a lot of people off guard. Always good to know what others think about these geopolitical ...
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