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An Unusual State Of Affairs For Oil Markets

OilPrice.com Wednesday, 24 July 2019
Iranian forces made front page oil market news yet again since our last note by seizing a UK-flagged tanker and a British owned tanker in the Strait of Hormuz as a retaliatory measure for the Royal Marines’ seizure of an Iranian cargo earlier in the month. This is an important trend to watch as six tankers and a US military drone have now been attacked, seized or somehow disturbed in the region over the last two months by Iranian forces generating a ten-fold increase in the price of vessel insurance in the Strait of Hormuz. Everywhere we…
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