google.com, pub-8701563775261122, DIRECT, f08c47fec0942fa0
UK

Middle East crisis live: Iran says ‘fundamental’ issues’ still to be resolved with US amid strait of Hormuz impasse | US-Israel war on Iran

important events

The world has lost more than $50 billion in unproduced crude oil since the start of the Iran war About 50 days ago, according to analysts and Reuters calculations. It is stated that the aftershocks of the crisis are expected to be felt for months or even years. According to Kpler data, more than 500 million barrels of crude oil and condensate have been wiped off the global market since the crisis began at the end of February; This was the largest energy supply disruption in modern history.

These 500 million barrels of oil lost to the market are equivalent to 10 weeks of global curtailment of aviation demand; No road travel around the world for 11 days; There will be no oil for the global economy for five days or so, said Iain Mowat, chief analyst at Wood Mackenzie.

That’s also nearly a month’s worth of U.S. oil demand, according to Reuters estimates.

Smoke and flames rise at the site of air strikes on an oil depot in Tehran earlier this year. Photo: SASAN/Middle East Images/AFP/Getty Images
To share

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button