Hormuz Shutdown Hits Key Industrial Commodities, Including Bunker Fuel
The Strait of Hormuz shutdown is having a direct effect on the price of oil and LNG, and in some downstream and byproduct markets, the impact is becoming acute. Net global oil supply is expected to fall by eight million barrels per day in March, according to the IEA. International commodity markets for sulfur, helium, urea, naphtha and petchem products are all linked to Mideast energy production, and shortages have knock-on effects on other sectors of the industrial economy -...
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