Hormuz Oil Shock Spreads West as Strait Remains Closed

Eric Nuttall, senior portfolio manager at Nine Point, said that oil disruption from war with Iran is projected to be worse than during the COVID pandemic as the Strait of Hormuz remains closed. Nuttall said that the oil companies are quickly working their way through the buffer supply of oil and expects that it will lead to physical shortages of oil barrels. (Source: Bloomberg)