Looks like @rcwhalen is predicting a fuel shortage and an oil glut too.
So much refining capacity has been Destroyed in Russia, the Middle East and US refiners go offline in August for maintenance.👇
If the Red Sear route is closed then basically India's fuel shipments get taken offline too. Expect gas station lineups throughout Europe.
Lockdowns 2.0
Very interesting. @JuliaLaRoche
For the first time since WW2 the world is about to face a fuel shortage while there's a glut of oil.
The US disruption of the Strait of Hormuz has broken the OPEC alliance of price control.
The recent destruction Russia's refineries by Ukraine + Middle Eastern refineries by