Oil Soars Over 10% In OTC Trading, Whether That Sticks Depends On How Long The War Lasts

Oil Soars Over 10% In OTC Trading, Whether That Sticks Depends On How Long The War Lasts With war in the middle east raging, and the world's most important oil transit choke point - the Straits of Hormuz which accounts for 20% of daily global oil transit - "effectively" halted after at least three ships were attacked in the vicinity of the waterway - even as Iran’s Foreign Minister Abbas Araghchi told Al Jazeera TV his country has no intention to close the Strait of Hormuz and h...

By Tyler Durden