Introduces the segment on oil price surge above $100/barrel due to Oman evacuating its key export terminal and tanker attacks in Iraq, following US SPR release plans.
Vonnie Quinn
Anthony Cool Depaolo
Confirms mixed messaging from the Trump administration on war duration, but the immediate market reaction is to the evacuation of Oman's key export port, which handles ~1 million barrels/day.
Asks about the sufficiency and duration of the 400 million barrel IEA reserve release.
Vonnie Quinn
Anthony Cool Depaolo
States the IEA release flows will not be enough to meet the shortfall in demand. The maximum sustainable flow rate is about 2 million barrels/day, which falls short of the 13-15 million barrel/day disruption from the Persian Gulf.