Two tankers with crude oil from Iraq, Kuwait and Saudi Arabia that passed through the strait before February 28 are still in the water, write JPMorgan analysts quoted by CNN.
See also: Donald Trump threatened Iran again. Oil prices skyrocketed
The end of pre-war oil from Hormuz. Last deliveries on the weekend
According to a note from JPMorgan analysts sent to clients last Sunday, one of the tankers, Ocean Thunderis scheduled to deliver crude oil from Iraq to Malaysia on Saturday. Second, Yuan Ju Wanis scheduled to deliver jet fuel to Australia on Sunday.
Iran's closing of the Strait of Hormuz cut off 12 million barrels of oil per day from the world, leading to a deep supply shortage. Governments, companies and consumers have dug deep into reserves, exhausting the 250 million barrels of oil stored since the war began. This amounts to 6.6 million barrels per day, which is more than half of the blocked oil, notes CNN.
However, supplies are running low and Western countries could reach operating minimums as early as early May, JPMorgan predicts.
See also: Oil flows through the Strait of Hormuz again. The tankers set off
Crude oil from the Persian Gulf
Not all oil exports from the Persian Gulf region have been blocked. Saudi Arabia has launched a contingency plan – an East-West pipeline to the Red Sea port of Yanbu.
Red Sea
|
PAP/Michał Czernek / PAP/photos
Iran allows some tankers to pass through the Strait of Hormuz in exchange for a fee of up to $2 million. for the ship.
The regime in Tehran is opening a path for countries it considers “friendly”. The list of such countries includes: China, Russia, India, Iraq and Pakistan.
Moreover, Iranian oil flows through the strait, of which China is an important recipient. In March, Iran managed to export an average of 1.85 million barrels of oil per day – about 100,000 more than the previous year. barrels per day more than in the previous three months, according to data and analysis from Kpler. The US blockade of the Strait of Hormuz and Iranian ports, which began on Monday, is intended to curb these exports.
Will there be a shortage of aviation fuel?
The aviation industry has warned that European airports could face systemic jet fuel shortages within weeks if the Strait of Hormuz is not fully and permanently reopened.
According to ACI Europe, an organization representing airports in the EU, jet fuel supplies are dwindling rapidly, and an additional burden on the market is the impact of military activities on demand and supply logistics.
In turn, as the head of the International Energy Agency (IEA) assessed earlier this month, shortages of aviation fuel and diesel will probably appear in Europe in April or early May.
In March, he said, cargoes of crude oil and natural gas that had left the Middle East before the United States and Israel unleashed war in the region were still arriving at world ports. “But nothing happens in April” – he added.
Source: CNN, Business Insider Polska
