Refined oil is really all that matters to customers of liquid fuels. Crude can be transported as and when. If sanctions on Russian Diesel and the USA having to really hold on to what they have for the home market then there is enough being refined or there is not. Or there are those that get oil and can refine but are choosing not to and controlling the market. What ever Donald Trump tries to do will hit some some places. Maybe make some of his even wealthier.

17 hours ago, PetrolDave said:

What about volume of oil getting through Bab-al Mandab Strait?

Depends who you are.

If Saudi linked watch out.

Talking to one of my colleagues they are completing massive extra paperwork for insurance going thru Red Sea and that sets the extra insurance premium plus Suez transition fees are up hugely too as Egypt was not getting its massivc canal revenue.

I gather more Saudi oil is getting thru Hormuz and the pipeline has been repaired so flows ar me good at tge moment but it will take weeks or months for that oil to bring the prices down to prewar levels so well in to next year probably.

1 hour ago, lol-lol said:

Depends who you are.

If Saudi linked watch out.

Talking to one of my colleagues they are completing massive extra paperwork for insurance going thru Red Sea and that sets the extra insurance premium plus Suez transition fees are up hugely too as Egypt was not getting its massivc canal revenue.

I gather more Saudi oil is getting thru Hormuz and the pipeline has been repaired so flows ar me good at tge moment but it will take weeks or months for that oil to bring the prices down to prewar levels so well in to next year probably.

Still be less expensive to retain your old ICE car unless it requires thousands of pounds beibg spent on it. It costs around a thousand to have a home charger installed.