🚢 Ships Are Still Crossing the Strait of Hormuz

Tankers are reportedly switching off their AIS transponders before entering the Strait of Hormuz.
Then turning them back on after exiting.

That means the vessels are still moving oil.

But no one can track them in real time.

This creates 2 problems for markets:

• True traffic levels become almost impossible to measure
• Risk for insurers and charterers skyrockets

So the strait may not be fully closed.

But it’s becoming a black box for global oil flows🛢️

#oott

🚨 MASSIVE CRASH IN OIL.

Oil price just crashed -32% in the last 18 hours, from a high of $119 to $82.

Two main reasons:

1) G7 and IEA announced the release of 400 million barrels from reserves.

2) Trump signaled an end to the war soon and emergency options to lower oil prices.