Post by Trafigura

Trafigura’s Chief Economist, Saad Rahim, spoke at the Financial Times Commodities Global Summit in Lausanne, offering a sobering perspective on the effects of the war in Iran on global oil markets.   “When you factor in the unavoidable physical lags of any restart, the oil market has - in effect - lost one billion barrels of oil and product since the war started,” Rahim stated. “If the Strait of Hormuz remains closed for another month, we're looking at over 1.5 billion barrels. That’s the magnitude we need to factor into our outlook.”   #FTCommodities #OilMarkets #Energy