| ▲ | dmix 3 hours ago | |
> on course to set off a truly unprecedented global energy crisis within days That's not exactly how oil supply works. There's plenty of stockpiles which take months to burn through and only some places depend on Iranian oil. China is their biggest buyer and it's around 13.4% of China's oil imports. | ||
| ▲ | yread an hour ago | parent [-] | |
it's not just about iranian oil. The strait is blockaded. Plus refineries in Kuwait, KSA and Bahrain were targeted. And LNG facilities in Qatar - which stopped and restarting will take ~1 month at least. Leading to this https://tradingeconomics.com/commodity/eu-natural-gas Gas in EU is cca 100% more expensive than a week ago. | ||