🚨🚢Tankers and carriers are increasingly avoiding the navigation through the Persian Gulf and the Strait of Hormuz due to the risks stemming from the🇮🇱🇮🇷#Israel #Iran conflict This undermines the logics of global Oil & Gas trade, highlighting risks for further price spikes 🧵
News are coming of traders and shipbrokers raising costs and cancelling bookings of ships, tankers and carriers of various size destined to the #PersianGulf and the Strait of #Hormuz, where around 30% of global oil trade and 20% of global LNG trade passes every day.
The possibility of a ship being targeted by accident, or with political aims, increases the risks for shipowners which are requesting fees up to 60% higher compared to a week ago, before the confrontation between Israel and Iran exploded into an almost all-out war between
the two Middle Eastern countries, risk to plunge the entire region into chaos and affecting global energy security. If navigating these waters become too dangerous for companies, who's gonna exporting oil and gas from 🇦🇪UAE 🇸🇦Saudi Arabia 🇮🇶Iraq 🇰🇼Kuwait to global markets?🤔
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