Aramco sees ‘catastrophic consequences’ for oil markets if Hormuz strait remains blocked

Saudi Arabia’s Aramco, the world’s top oil exporter, said on Tuesday there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. Oil shipments have been largely blocked from using the shipping artery, where normally roughly 20% of the world’s oil would pass… Source


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