JPM: Counting Down To The Next Wave Of Shut‑Ins

JPM: Counting Down To The Next Wave Of Shut‑Ins On Friday, day seven of the conflict, commercial traffic through the Strait of Hormuz remained virtually nonexistent, with activity largely limited to Iranian vessels.  Unable to move crude through the waterway, JPM reminds its clients that producers have effectively shifted storage onto the sea and other facilities. Since the end of February, roughly 76 million barrels (mb) of crude have accumulated—about 46 mb on tankers, 22 m...

By Tyler Durden