Hormuz is stalled, oil tankers are flocking to reroute via the Red Sea—there are already 30 of them!
The fires of war in the Middle East are reshaping the global crude oil transportation landscape. After the near paralysis of the Strait of Hormuz, around 30 supertankers are collectively diverting to Saudi ports on the Red Sea, a number far exceeding historical averages and reflecting the profound shocks Middle