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Oil Disruption of the Strait of Hormuz May Be More Permanent Than a Few Weeks - Energy News Beat
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Oil Disruption of the Strait of Hormuz May Be More Permanent Than a Few Weeks - Energy News Beat
The ongoing closure of the Strait of Hormuz—now in its seventh week—has triggered the largest oil supply shock in modern history. Roughly 20 million barrels per day (mb/d) of crude and products once flowed through this narrow chokepoint. Today, tanker traffic has collapsed, exports have plunged to a trickle, and Gulf producers have been forced to shut in production rather than flood storage tanks. A widely circulated X post by Raymond Hakim (@Ra…
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