Countries poised to gain during the oil supply crunch
With oil costs climbing due to the Strait of Hormuz shutting down during the US-Iran conflict, countries such as Russia, the United States, and Saudi Arabia are set to see advantages. Russian oil shipments avoid the Hormuz route, instead traveling via ports in the Baltic, Black Sea, Arctic, and Pacific regions. Additionally, the spike in prices aids American shale oil companies, and Saudi Arabia possesses the necessary facilities to navigate around the Strait of Hormuz to some extent.
by shortkt.com✓