Mmastodon WarWar first seen 1 d ago, last 22 h ago, peak #2
Oil smuggled past Iran works, but insurance costs soar
Original: In particular, while efforts to smuggle oil around Iranian control over the Strait of Hormuz have been surprisingly effe
Efforts to move oil around Iranian control of the Strait of Hormuz have been surprisingly effective in recent weeks, but the workaround carries a heavy cost. Insurance rates for shipments through the strait have risen so dramatically that the effective price of the exports is significantly higher, offsetting much of the benefit of evading Iranian interference.
Why now: Tensions over the Strait of Hormuz are pushing up shipping insurance costs and drawing attention to the real price of keeping oil flowing.
Rank over time, top of the chart is #1. 14 snapshots from 1 d ago to 22 h ago.
Evidence
- In particular, while efforts to smuggle oil around Iranian control over the Strait of Hormuz have been surprisingly effective over the last few weeks, it's important to note that insurance rates have risen so dramatically that the effective resulting price of those exports is… · moira@mastodon.murkworks.net · 5
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