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Rory Johnston: Global Oil Market Chaos - 3 Factors Making For a Larger Energy Crisis
Tom Bodrovics welcomes back commodity market specialist Rory Johnston for his analysis of the volatile state of the global oil market, focusing on the Strait of Hormuz, Chinese demand, and refining capacity disruptions. Johnston explains that following a recent memorandum of understanding, there was a temporary surge in oil transits through Hormuz as stranded tankers were released, creating a short-lived mini-glut that depressed prices. However, this flow has since collapsed again due to renewed kinetic attacks between Iran and the United States, effectively closing the strait once more and…
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