Brian Pia’s Post

The recent attacks by Iran on Israel have not directly impacted oil prices. However, should these hostilities escalate to the extent of potentially closing the Strait of Hormuz, a passage of only 33 km wide at its narrowest point, the repercussions for energy markets would be significant. This scenario is particularly concerning due to the lack of sufficient alternative routes for oil transportation from the region. To further illustrate the gravity of this situation, more than 30% of the global oil seaborne exports and 20% of the global #LNG flows pass through the Strait of Hormuz. Regarding the movement of oil in 2023, ports within the Persian Gulf exported a total of 5.67 billion barrels of crude oil (excluding Iran), equivalent to approximately 15.55 million barrels per day, accounting for 33% of the global crude oil transported by sea. It is clear that, should tensions escalate to the point of blocking the Strait, the impact on energy prices would be seismic. #marketinsights #dailyreport #maritime #shippingindustry #energymarket

𝙎𝙩𝙧𝙖𝙞𝙩 𝙤𝙛 𝙃𝙤𝙧𝙢𝙪𝙯: 𝘼 𝙑𝙞𝙩𝙖𝙡 𝘾𝙝𝙤𝙠𝙚𝙥𝙤𝙞𝙣𝙩 𝙛𝙤𝙧 𝙂𝙡𝙤𝙗𝙖𝙡 𝙀𝙣𝙚𝙧𝙜𝙮 𝙁𝙖𝙘𝙞𝙣𝙜 𝙈𝙖𝙟𝙤𝙧 𝙍𝙞𝙨𝙠𝙨 The Strait of Hormuz, responsible for around 21% of the global crude oil trade, is once again in focus as rising tensions in the Middle East threaten supply disruptions. Any blockade or disruption of this critical passageway could spike oil prices above $100 a barrel, with analysts predicting prices could even exceed $150 in a worst-case scenario. The risk of conflict escalating, particularly involving Iran, puts the global energy market on edge. Potential disruptions to oil and LNG flows could have significant economic impacts, especially as winter demand increases. Will rising tensions push oil prices to new highs? How do you see this affecting global energy markets? #OilMarkets #EnergyCrisis #StraitOfHormuz #GlobalSupply #MiddleEastTensions #EnergySecurity https://lnkd.in/gAGxK9bt

The Strait of Hormuz is widely recognized as a vital oil transit chokepoint. ➡️ Situated between Iran and Oman, the waterway is a narrow but strategically important channel that links crude producers in the Middle East with key markets across the world. ➡️ For many analysts, an event where there is a blockade to flows via the Strait of Hormuz is seen as a worst-case scenario — one that could prompt oil prices to climb far above $100 a barrel. ➡️ “The worst case could well be if Israel strikes Iran [and] Iran takes actions to slow down or potentially try to block the Strait of Hormuz,” Alan Gelder, energy analyst at Wood Mackenzie, told CNBC’s “Squawk Box Europe” on Monday. Read more: https://cnb.cx/4dBFa2O

Saudi Arabia exported 7.0 million b/d of crude oil in 2023. Crude oil and petroleum product exports from Saudi Arabia represented 34% and 26%, respectively, of OPEC exports in 2023. Saudi Arabia shipped 42% (6.2 million b/d) of the crude oil that transited the Strait of Hormuz in 2023. The Strait of Hormuz is the seaborne entrance to the Persian Gulf and one of the world’s most important oil transit chokepoints. Most exports of petroleum and natural gas from the Persian Gulf to Europe and North America pass through several chokepoints, including the Strait of Hormuz, the Suez Canal or the SUMED pipeline, and the Bab el-Mandeb. Saudi Arabia can circumvent the Strait of Hormuz and Bab El-Mandeb by transporting crude oil to the Red Sea via the country’s 5 million b/d East-West crude oil pipeline, which is temporarily expandable to 7 million b/d when needed. (Country Analysis Brief: Saudi Arabia – EIA (U.S. Energy Information Administration) – October 4th 2024) #SaudiArabia #SaudiArabiacrudeoilexports #OPEC #CrudeOilMarket #StraitofHormuz #SaudiArabiaseabornecrudeoilexports

Middle East Oil Assets and Trade Routes Under Threat - Expect a steep increase in petrol prices As tensions rise between Israel and Iran, the stability of key oil assets and trade routes in the Middle East hangs in the balance. With the region holding nearly half of the world's proven oil reserves, disruptions in critical chokepoints like the Strait of Hormuz, Bab al-Mandab, and the Suez Canal could have far-reaching impacts on global energy markets. The stakes are high—26.3 million barrels per day in crude production and 32% of global output are on the line. Staying informed is crucial. How do you see this impacting energy prices globally? #EnergySecurity #OilAndGas #GlobalTrade #MiddleEast #Geopolitics #innovalus

#UAE #Opec third-largest producer, has #increased its #production capacity as part of a plan to reach 5 million bpd in output by 2027. #Adnoc can now pump 4.85 million barrels a day, up from 4.65 million bpd at the end of 2023 Meanwhile, #Turkey has confirmed that it would halt all trade with #Israel until the country improves the flow of aid into Gaza About 40 per cent of Israel’s annual oil demand is supplied by crude transported via #pipeline from Turkey’s Mediterranean oil port of Ceyhan. #DanaGas production from its Khor Mor plant in #Iraq Kurdistan region had been restored to normal levels after a drone attack last week. as the fallout from Iran’s attack on Israel has remained limited, #Brentcrude has fallen by about 8 per cent since reaching a six-month high of $91.17 a barrel in April, #Brent the benchmark for two thirds of the world’s oil, was trading at $83.85 a barrel #WestTexasIntermediate the gauge that tracks US crude, was at $79.14 a barrel

Iran closure of Hormuz Strait would be detrimental for tanker market | Markets | Shipping Telegraph Iran will only close the Strait of Hormuz if it has nothing to lose and, although it cannot be discounted completely, this remains a very unlikely scenario, according to shipbroker Poten & Partners. The impacts would be devastating to the global economy as about 21% of the world’s liquid petroleum (crude oil, condensate and petroleum products) travels through the Strait of Hormuz, making it the most important oil transit chokepoint in the world. https://lnkd.in/dp6xhKZ4

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐦𝐚𝐲 𝐬𝐥𝐚𝐬𝐡 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝐜𝐫𝐮𝐝𝐞 𝐩𝐫𝐢𝐜𝐞𝐬 𝐟𝐨𝐫 𝐀𝐬𝐢𝐚 Saudi Arabia, the world’s top oil exporter, is likely to cut crude prices for Asian buyers in January to their lowest levels in years, according to traders. The January official selling price (OSP) for Arab Light could drop by 70 to 90 cents per barrel from December, marking at least a four-year low, a Reuters survey of six Asian refinery sources revealed. Read More: https://lnkd.in/gy9GUdJc #AsiaOne #AsiaOneMagazine #CrudeOilPrices #SaudiOil #EnergyMarket #OilIndustry #OilAndGas #EnergyNews #OilPrices #GlobalEconomy #EnergyUpdate #OilTrade #SaudiArabia #AsiaEnergyMarket #Economy

Iran closure of Hormuz Strait would be detrimental for tanker market | Markets | Shipping Telegraph Iran will only close the Strait of Hormuz if it has nothing to lose and, although it cannot be discounted completely, this remains a very unlikely scenario, according to shipbroker Poten & Partners. The impacts would be devastating to the global economy as about 21% of the world’s liquid petroleum (crude oil, condensate and petroleum products) travels through the Strait of Hormuz, making it the most important oil transit chokepoint in the world. https://lnkd.in/d-BwdbWX

Libya Reaches 1.3 Million bpd Oil Production, Eyes 2 Million bpd in Coming Years 👇 Libya has reached a significant milestone in oil production, achieving 1.3 million barrels per day (bpd) as of mid-October 2024. This marks a full recovery following recent disruptions caused by political tensions, particularly the central bank crisis earlier this year. The National Oil Corporation (NOC) attributed this swift rebound to the dedicated efforts of its workforce and the support of key stakeholders. The production figure includes both crude oil and condensates, reaffirming Libya's position as a key player in the global oil market. Follow Originco for regular updates on the Oil market: https://lnkd.in/gxyceeQC Written by Originco and published on EklipX Research #OOTT #Libya #oil #crude #trading