I don’t think a 21X increase in the cost to get a tanker out of the Persian Gulf with lower total exports than before the war is an achievement.
And I think it’s odd that so much of the press has been covering it as if we should see this as positive, with “Better Than You Think”-style “explainers.”
@bgrueskin.bsky.social“The cost of carrying oil from inside the Persian Gulf to China rose to a record $1.3 million a day Monday.
“The rate averaged close to $60,000 a day last year.”
www.bloomberg.com/news/article...
bloomberg.com
Iran Ramps Up Ship Attacks in Hormuz as Oil, Gas Flows Rise
Iran has increased the pace of attacks on tankers in the Strait of Hormuz in recent days, just as oil shipments through the world’s most important energy chokepoint approach prewar levels.
