Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-06-21T21:00:00.000Z
The blockading of the Strait of Hormuz was something that was never going to happen—until it did, paralyzing a fifth of global LNG and crude oil flows and causing quite a bit of economic pain to both producers and consumers of energy commodities. Now, they are taking care to never let a disruption of that scale happen again. The most immediate response to Iran’s closure of the strait was switching to alternative pipeline routes for those that had them. Saudi Arabiademonstratedforesight with its East-West pipeline that it used to reroute its export flows from the Persian Gulf to the Red Sea, ramping up to some 7 million barrels of crude daily along the pipe that had previously handled much lower volumes. The only major constraint in that rerouting was the capacity of the loading facilities
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.