You wonder how crude oil is still below 100$ even though Hormuz is closed for > 100 days?
Then this is worth a read. Reason 1 blew my mind: Chinese demand dropped by staggering 4 million barrels a day - this is the consumption of Germany and France combined 🤯
www.bloomberg.com/opinion/arti...
Regular readers will know that I’ve been more sanguine than many about the likely impact of what is undoubtedly a massive oil shock being delivered by the war in Iran. But the market has still managed...
