oil shock: Morning Brief Podcast: SPRs to LPG: How Far Will History’s Biggest Oil Shock Reverberate?
A once-in-a-generation oil shock is underway. Host Anirban Chowdhury speaks with Energy Aspects Founder Amrita Sen, Rapidan Energy Group founder and former White House energy advisor Bob McNally, and ET’s Puran Choudhary about the crisis triggered by the virtual closure of the Strait of Hormuz. More than 10 million barrels of crude oil per day have been disrupted, roughly twice the magnitude of the 1956 Suez Crisis, and for the first time, there is virtually no spare production capacity to alleviate this crisis. …Read moreblow Brent rose above $110, LNG cargoes are facing force majeure and Asian refineries are cutting production. Strategic reserves provide only limited relief. In India, the shock is already visible on the ground, with LPG shortages, rationing and black market price hikes spreading across multiple states. The bigger question is: What will happen to the global energy order if this disruption continues, and what kind of Iran will emerge from this war?
